Charles Schwab Investment Management Inc. Raises Stake in LTC Properties, Inc. $LTC

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in LTC Properties, Inc. by 15.4%, acquiring an additional 126,598 shares, bringing its total ownership to 949,322 shares, valued at approximately $33.65 million.
• In the 1st quarter, multiple hedge funds adjusted their holdings in LTC Properties, with Principal Financial Group Inc. increasing its stake by 3.5% and Jupiter Asset Management Ltd. purchasing a new stake valued at $9.36 million.
• LTC Properties announced a dividend of $0.19 per share, with a dividend yield of 642.0%, and a reported earnings per share (EPS) of $0.68 for the most recent quarter, exceeding analysts' expectations.

Charles Schwab Investment Management Inc. increased its stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 949,322 shares of the real estate investment trust's stock after purchasing an additional 126,598 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.07% of LTC Properties worth $33,653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LTC. Jupiter Asset Management Ltd. purchased a new stake in LTC Properties during the 1st quarter worth about $9,358,000. Northern Trust Corp increased its position in LTC Properties by 20.9% during the 4th quarter. Northern Trust Corp now owns 599,573 shares of the real estate investment trust's stock worth $20,715,000 after purchasing an additional 103,482 shares in the last quarter. GAMMA Investing LLC increased its position in LTC Properties by 3,445.0% during the 1st quarter. GAMMA Investing LLC now owns 86,604 shares of the real estate investment trust's stock worth $3,070,000 after purchasing an additional 84,161 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in LTC Properties during the 4th quarter worth about $1,627,000. Finally, Edgestream Partners L.P. increased its position in LTC Properties by 750.2% during the 1st quarter. Edgestream Partners L.P. now owns 52,805 shares of the real estate investment trust's stock worth $1,872,000 after purchasing an additional 46,594 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company's stock.

LTC Properties Trading Up 0.6%

LTC traded up $0.2260 during midday trading on Friday, hitting $36.7560. The company's stock had a trading volume of 477,849 shares, compared to its average volume of 393,789. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.67. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $39.89. The firm has a market cap of $1.69 billion, a P/E ratio of 20.20 and a beta of 0.66. The firm has a 50-day moving average price of $35.23 and a two-hundred day moving average price of $35.15.

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

LTC Properties Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, August 21st. This represents a dividend yield of 642.0%. LTC Properties's payout ratio is presently 125.27%.

Insider Activity

In other news, EVP David M. Boitano bought 6,000 shares of the firm's stock in a transaction dated 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 acquisition, the executive vice president owned 15,626 shares of the company's stock, valued at $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LTC. Wedbush upgraded LTC Properties to a "strong-buy" rating in a research report on Wednesday, July 2nd. JMP Securities lifted their price objective on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada lifted their price target on LTC Properties from $36.00 to $37.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, LTC Properties currently has a consensus rating of "Buy" and an average price target of $39.00.

LTC Properties Company 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.