8,996,488 Shares in LTC Properties, Inc. $LTC Bought by BlackRock Inc.

BlackRock Inc. purchased a new stake in LTC Properties, Inc. (NYSE:LTC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,996,488 shares of the real estate investment trust's stock, valued at approximately $345,915,000. BlackRock Inc. owned about 17.58% of LTC Properties at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Deutsche Bank AG purchased a new position in shares of LTC Properties during the second quarter worth about $2,888,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of LTC Properties in the 2nd quarter valued at about $1,632,000. Global Retirement Partners LLC acquired a new stake in shares of LTC Properties in the 2nd quarter valued at about $89,000. Bank of New York Mellon Corp purchased a new position in LTC Properties during the 2nd quarter worth approximately $20,008,000. Finally, Handelsbanken Fonder AB grew its stake in LTC Properties by 13.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 29,830 shares of the real estate investment trust's stock worth $1,147,000 after buying an additional 3,600 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company's stock.

LTC Properties Price Performance

Shares of NYSE:LTC opened at $40.69 on Wednesday. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.19 billion, a P/E ratio of 15.02 and a beta of 0.56. LTC Properties, Inc. has a 52 week low of $33.64 and a 52 week high of $43.00. The company has a 50-day moving average price of $39.64 and a 200 day moving average price of $38.75.

LTC Properties (NYSE:LTC - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $98.08 million for the quarter, compared to analysts' expectations of $79.01 million. LTC Properties had a return on equity of 11.42% and a net margin of 38.84%.The firm's quarterly revenue was up 63.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Research analysts predict that LTC Properties, Inc. will post 2.77 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be paid a $0.19 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. LTC Properties's payout ratio is 84.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of LTC Properties in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on shares of LTC Properties from $39.00 to $40.00 and gave the company an "equal weight" rating in a research note on Monday, June 1st. Cantor Fitzgerald reduced their target price on shares of 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 upgraded shares of LTC Properties from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $41.00 to $45.00 in a research note on Friday, August 14th. Finally, Nomura upgraded LTC Properties to a "neutral" rating in a research report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.40.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano bought 10,000 shares of LTC Properties stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $34.77 per share, with a total value of $347,700.00. Following the completion of the acquisition, the executive vice president owned 46,160 shares in the company, valued at $1,604,983.20. The trade was a 27.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy Triche sold 3,125 shares of the firm's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $39.54, for a total value of $123,562.50. Following the completion of the sale, the director directly owned 37,786 shares of the company's stock, valued at approximately $1,494,058.44. This trade represents a 7.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 14,000 shares of company stock valued at $500,900 over the last quarter. Company insiders own 2.20% 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.

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