Ballentine Partners LLC Makes New Investment in LTC Properties, Inc. $LTC

Ballentine Partners LLC acquired a new stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,147 shares of the real estate investment trust's stock, valued at approximately $697,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LTC. Keudell Morrison Wealth Management grew its position in shares of LTC Properties by 0.9% in the first quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust's stock valued at $1,301,000 after purchasing an additional 328 shares in the last quarter. Arizona State Retirement System increased its position in shares of LTC Properties by 2.9% during the first quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust's stock worth $460,000 after acquiring an additional 360 shares during the period. Denali Advisors LLC increased its holdings in LTC Properties by 1.6% in the first quarter. Denali Advisors LLC now owns 32,622 shares of the real estate investment trust's stock valued at $1,156,000 after buying an additional 522 shares during the last quarter. Groupe la Francaise grew its holdings in shares of LTC Properties by 3.8% during the first quarter. Groupe la Francaise now owns 16,219 shares of the real estate investment trust's stock worth $567,000 after purchasing an additional 601 shares during the last quarter. Finally, Adams Wealth Management boosted its stake in shares of LTC Properties by 3.5% during the first quarter. Adams Wealth Management now owns 19,071 shares of the real estate investment trust's stock worth $676,000 after buying an additional 647 shares during the period. Hedge funds and other institutional investors own 69.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LTC. Royal Bank Of Canada raised their price objective on shares of LTC Properties from $36.00 to $37.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. BMO Capital Markets upgraded shares of LTC Properties from an "underperform" rating to a "market perform" rating and set a $39.00 target price for the company in a report on Wednesday. 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. Wedbush raised shares of LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Finally, JMP Securities boosted their price objective on shares of LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

LTC Properties Stock Performance

Shares of LTC stock opened at $36.55 on Friday. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 20.08 and a beta of 0.69. The stock has a fifty day moving average of $35.77 and a 200 day moving average of $35.37. 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 posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. The firm had revenue of $30.18 million for 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 business's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. As a group, research analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 21st were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. LTC Properties's payout ratio is currently 125.27%.

LTC Properties Profile

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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