Advisors Capital Management LLC Has $16.88 Million Stake in LTC Properties, Inc. $LTC

Key Points

• Advisors Capital Management LLC increased its holdings in LTC Properties, Inc. by 2.6%, owning approximately $16.88 million worth of shares as of the latest SEC filing.
• LTC Properties recently announced a monthly dividend of $0.19 per share, representing an annualized yield of 6.2%, with a high dividend payout ratio of 125.27%.
• The company's earnings per share (EPS) for the latest quarter exceeded analysts' expectations, reporting $0.68, and set a FY 2025 guidance of 2.670-2.71 EPS.

Advisors Capital Management LLC increased its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 476,084 shares of the real estate investment trust's stock after buying an additional 11,841 shares during the quarter. Advisors Capital Management LLC owned about 1.04% of LTC Properties worth $16,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in LTC Properties during the fourth quarter worth approximately $27,000. KBC Group NV purchased a new position in LTC Properties during the first quarter worth approximately $33,000. Rossby Financial LCC purchased a new position in LTC Properties during the first quarter worth approximately $58,000. Anchor Investment Management LLC purchased a new position in LTC Properties during the first quarter worth approximately $60,000. Finally, Elite Financial Inc. purchased a new position in shares of LTC Properties in the 1st quarter worth about $69,000. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Price Performance

Shares of LTC Properties stock traded up $0.21 on Wednesday, hitting $35.78. The company had a trading volume of 53,228 shares, compared to its average volume of 342,998. The business has a 50-day simple moving average of $35.67 and a 200-day simple moving average of $35.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06. The company has a market cap of $1.65 billion, a PE ratio of 19.68 and a beta of 0.69. LTC Properties, Inc. has a 52 week low of $31.70 and a 52 week high of $39.89.

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

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 21st were issued a dividend of $0.19 per share. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date was Thursday, August 21st. LTC Properties's dividend payout ratio (DPR) is presently 125.27%.

Insider Buying and Selling at LTC Properties

In related news, EVP David M. Boitano purchased 6,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was acquired at an average price of $34.71 per share, for a total transaction of $208,260.00. Following the transaction, the executive vice president directly owned 15,626 shares of the company's stock, valued at $542,378.46. This trade represents a 62.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on LTC. JMP Securities raised their price objective on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Royal Bank Of Canada raised their target price 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. Wells Fargo & Company raised their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Finally, Wedbush raised shares of LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $39.25.

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.