Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 31,041 shares of the real estate investment trust's stock, valued at approximately $1,194,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of LTC Properties as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Keudell Morrison Wealth Management bought a new position in shares of LTC Properties during the 4th quarter worth about $1,365,000. Vanguard Group Inc. increased its stake in LTC Properties by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 7,238,012 shares of the real estate investment trust's stock valued at $248,843,000 after acquiring an additional 125,889 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in LTC Properties in the 4th quarter valued at approximately $6,556,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of LTC Properties by 178.2% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 129,100 shares of the real estate investment trust's stock worth $4,438,000 after acquiring an additional 82,700 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of LTC Properties by 232.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 54,420 shares of the real estate investment trust's stock worth $2,022,000 after purchasing an additional 38,054 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
LTC has been the subject of several research reports. Citigroup reaffirmed a "market outperform" rating on shares of LTC Properties in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft upgraded shares of LTC Properties from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research report on Thursday. Nomura raised shares of LTC Properties to a "neutral" rating in a research report on Friday, August 14th. Royal Bank Of Canada upgraded shares of LTC Properties from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $41.00 to $45.00 in a research note on Friday, August 14th. Finally, Cantor Fitzgerald decreased their price objective on LTC Properties from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.67.
Check Out Our Latest Research Report on LTC Properties
LTC Properties Price Performance
Shares of LTC opened at $40.65 on Monday. The stock has a market cap of $2.19 billion, a P/E ratio of 15.00 and a beta of 0.56. LTC Properties, Inc. has a 1 year low of $33.64 and a 1 year high of $43.00. The stock's 50-day moving average price is $39.90 and its two-hundred day moving average price is $38.82. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.58.
LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. The company had revenue of $98.08 million during 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%.LTC Properties's revenue was up 63.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, equities analysts predict that LTC Properties, Inc. will post 2.78 earnings per share for the current year.
LTC Properties Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be paid a $0.19 dividend. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 22nd. LTC Properties's dividend payout ratio is presently 84.13%.
Insiders Place Their Bets
In other news, EVP David M. Boitano bought 10,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $34.77 per share, for a total transaction of $347,700.00. Following the completion of the acquisition, the executive vice president owned 46,160 shares in the company, valued at approximately $1,604,983.20. This trade represents a 27.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy Triche sold 3,125 shares of LTC Properties stock in a transaction on Monday, July 13th. The stock was sold at an average price of $39.54, for a total transaction of $123,562.50. Following the transaction, the director directly owned 37,786 shares in the company, valued at approximately $1,494,058.44. This represents a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 14,000 shares of company stock worth $500,900. Company insiders own 2.20% of the company's stock.
LTC Properties Profile
(
Free Report)
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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