Legal & General Group Plc Acquires 45,627 Shares of LTC Properties, Inc. $LTC

Legal & General Group Plc increased its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 16.8% in the fourth quarter, HoldingsChannel reports. The firm owned 317,709 shares of the real estate investment trust’s stock after buying an additional 45,627 shares during the period. Legal & General Group Plc’s holdings in LTC Properties were worth $10,923,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versor Investments LP bought a new position in LTC Properties during the third quarter worth about $995,000. American Century Companies Inc. grew its holdings in LTC Properties by 4,205.5% during the third quarter. American Century Companies Inc. now owns 812,235 shares of the real estate investment trust’s stock worth $29,939,000 after purchasing an additional 793,370 shares during the period. Jupiter Asset Management Ltd. bought a new position in LTC Properties during the third quarter worth about $6,797,000. Advisors Capital Management LLC grew its holdings in LTC Properties by 3.8% during the third quarter. Advisors Capital Management LLC now owns 750,689 shares of the real estate investment trust’s stock worth $27,670,000 after purchasing an additional 27,686 shares during the period. Finally, Keudell Morrison Wealth Management bought a new stake in shares of LTC Properties during the fourth quarter worth approximately $1,365,000. Institutional investors own 69.25% of the company’s stock.

Insider Buying and Selling

In other news, Director David L. Gruber acquired 4,000 shares of the stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $38.41 per share, for a total transaction of $153,640.00. Following the completion of the transaction, the director directly owned 44,045 shares in the company, valued at approximately $1,691,768.45. This trade represents a 9.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LTC has been the subject of a number of research analyst reports. Weiss Ratings upgraded LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Cantor Fitzgerald reduced their price objective on LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Royal Bank Of Canada boosted their price objective on LTC Properties from $38.00 to $41.00 and gave the stock a “sector perform” rating in a report on Friday, March 20th. Finally, Wells Fargo & Company boosted their price objective on LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

LTC Properties Stock Down 2.5%

NYSE LTC opened at $35.05 on Thursday. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.73. LTC Properties, Inc. has a 1-year low of $33.64 and a 1-year high of $40.80. The company has a 50 day moving average of $38.27 and a 200-day moving average of $37.27. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 14.19 and a beta of 0.57.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.17. LTC Properties had a net margin of 38.99% and a return on equity of 10.87%. The company had revenue of $94.41 million during the quarter, compared to the consensus estimate of $72.98 million. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was up 94.7% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. On average, equities research analysts expect that LTC Properties, Inc. will post 2.77 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a $0.19 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, June 22nd. LTC Properties’s payout ratio is presently 92.31%.

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.