Insider Buying: LTC Properties (NYSE:LTC) EVP Acquires $344,400.00 in Stock

LTC Properties, Inc. (NYSE:LTC) EVP David Boitano bought 10,000 shares of LTC Properties stock in a transaction on Wednesday, December 31st. The stock was acquired at an average price of $34.44 per share, with a total value of $344,400.00. Following the completion of the purchase, the executive vice president directly owned 25,626 shares of the company’s stock, valued at approximately $882,559.44. The trade was a 64.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

LTC Properties Stock Performance

Shares of LTC opened at $35.66 on Thursday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 49.53 and a beta of 0.62. The company’s fifty day moving average is $35.29 and its 200-day moving average is $35.42. The company has a quick ratio of 8.68, a current ratio of 8.68 and a debt-to-equity ratio of 0.90. LTC Properties, Inc. has a 12 month low of $31.70 and a 12 month high of $37.25.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $50.05 million during the quarter, compared to analysts’ expectations of $65.94 million. LTC Properties had a net margin of 14.58% and a return on equity of 3.22%. LTC Properties’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. Equities analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be paid a dividend of $0.19 per share. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Monday, March 23rd. LTC Properties’s dividend payout ratio is 316.67%.

Institutional Investors Weigh In On LTC Properties

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its stake in LTC Properties by 75.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of LTC Properties by 55.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 352 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of LTC Properties during the third quarter valued at about $41,000. Elevation Point Wealth Partners LLC bought a new stake in shares of LTC Properties in the second quarter valued at about $41,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of LTC Properties by 701.3% in the third quarter. Hantz Financial Services Inc. now owns 1,258 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,101 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LTC shares. Cantor Fitzgerald set a $36.00 target price on LTC Properties in a research report on Monday. BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price objective for the company in a research note on Wednesday, September 24th. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price objective on shares of LTC Properties in a report on Friday, October 17th. Wells Fargo & Company lifted their target price on shares of LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Finally, Royal Bank Of Canada boosted their target price on shares of LTC Properties from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, LTC Properties presently has an average rating of “Hold” and an average price target of $38.60.

LTC Properties Company Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.