LTC Properties (NYSE:LTC) Sets New 52-Week High – Here’s What Happened

LTC Properties, Inc. (NYSE:LTC)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $37.33 and last traded at $37.47, with a volume of 153610 shares. The stock had previously closed at $36.92.

Wall Street Analyst Weigh In

A number of analysts have commented on LTC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LTC Properties in a report on Monday, December 29th. JMP Securities reissued a “market outperform” rating and set a $43.00 price objective on shares of LTC Properties in a research report on Friday, October 17th. Cantor Fitzgerald set a $36.00 price objective on LTC Properties in a research note on Monday, January 5th. Royal Bank Of Canada lifted their target price on LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Finally, Wells Fargo & Company boosted their price target on LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.60.

LTC Properties Stock Up 1.6%

The company has a debt-to-equity ratio of 0.90, a quick ratio of 8.68 and a current ratio of 8.68. The company’s 50-day moving average price is $35.37 and its 200 day moving average price is $35.49. The stock has a market capitalization of $1.79 billion, a P/E ratio of 52.08 and a beta of 0.62.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results 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 business had revenue of $50.05 million during the quarter, compared to analyst estimates of $65.94 million. LTC Properties had a return on equity of 3.22% and a net margin of 14.58%.LTC Properties’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. As a group, equities analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a dividend of $0.19 per share. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Monday, March 23rd. LTC Properties’s dividend payout ratio (DPR) is 316.67%.

Insider Activity at LTC Properties

In related news, EVP David M. Boitano acquired 10,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average cost of $34.44 per share, with a total value of $344,400.00. Following the acquisition, the executive vice president directly owned 25,626 shares in the company, valued at $882,559.44. This represents a 64.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David L. Gruber bought 4,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $35.41 per share, for a total transaction of $141,640.00. Following the acquisition, the director directly owned 28,738 shares of the company’s stock, valued at approximately $1,017,612.58. This represents a 16.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 15,000 shares of company stock valued at $521,980 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Advisors Capital Management LLC raised its position in shares of LTC Properties by 51.9% during the 2nd quarter. Advisors Capital Management LLC now owns 723,003 shares of the real estate investment trust’s stock valued at $25,023,000 after buying an additional 246,919 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in LTC Properties in the second quarter worth about $856,000. Squarepoint Ops LLC bought a new stake in LTC Properties during the second quarter worth approximately $599,000. Ballentine Partners LLC purchased a new stake in LTC Properties during the second quarter valued at approximately $697,000. Finally, Strs Ohio purchased a new stake in LTC Properties during the first quarter valued at approximately $298,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

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.