21,000 Shares in LTC Properties, Inc. $LTC Acquired by McElhenny Sheffield Capital Management LLC

Key Points

• McElhenny Sheffield Capital Management LLC acquired 21,000 shares of LTC Properties, Inc., valued at approximately $727,000, in the second quarter.
• Analysts have set a range of price targets for LTC Properties, with Cantor Fitzgerald rating it as "neutral" with a target of $38.00 and JMP Securities setting a target of $43.00 with a "market outperform" rating.
• LTC Properties recently announced a dividend of $0.19 per share to be paid on December 31, 2023, representing a yield of 615.0%, with a record date of December 23, 2023.

McElhenny Sheffield Capital Management LLC purchased a new position in LTC Properties, Inc. (NYSE:LTC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 21,000 shares of the real estate investment trust's stock, valued at approximately $727,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV purchased a new position in LTC Properties in the 1st quarter worth approximately $33,000. Rossby Financial LCC purchased a new position in LTC Properties in the 1st quarter worth approximately $58,000. Anchor Investment Management LLC purchased a new position in LTC Properties in the 1st quarter worth approximately $60,000. Elite Financial Inc. purchased a new position in LTC Properties in the 1st quarter worth approximately $69,000. Finally, Montag A & Associates Inc. grew its stake in LTC Properties by 72.5% in the 1st quarter. Montag A & Associates Inc. now owns 3,616 shares of the real estate investment trust's stock worth $128,000 after buying an additional 1,520 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on LTC. Cantor Fitzgerald began coverage on shares of LTC Properties in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $38.00 price target for the company. Wells Fargo & Company boosted their price target on shares of LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Weiss Ratings reissued a "hold (c+)" rating on shares of LTC Properties in a research note on Wednesday. JMP Securities boosted their price target on shares of LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada upped their price objective on shares of LTC Properties from $36.00 to $37.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.80.

LTC Properties Price Performance

Shares of LTC Properties stock opened at $34.57 on Thursday. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $39.89. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 18.99 and a beta of 0.68. The company has a fifty day moving average of $35.91 and a 200-day moving average of $35.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06.

LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The company had revenue of $30.18 million during the quarter, compared to analysts' expectations of $49.97 million. During the same quarter in the prior year, the company earned $0.45 EPS. The firm's revenue was up 20.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Equities research analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The company also recently declared a dec 25 dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a yield of 615.0%. LTC Properties's dividend payout ratio is presently 125.27%.

About LTC Properties

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.

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