Denali Advisors LLC Reduces Stock Position in LTC Properties, Inc. $LTC

Key Points

• Denali Advisors LLC has reduced its stock position in LTC Properties, Inc. by 23.3%, owning 25,012 shares after selling 7,610 shares in the second quarter, equating to a value of $866,000.
• Analysts have varying ratings for LTC with Cantor Fitzgerald setting a target price of $38.00 and JMP Securities giving a higher target of $43.00, indicating a generally positive outlook with a consensus rating of "Moderate Buy."
• LTC Properties announced a $0.19 per share dividend to be paid on December 31, 2023, reflecting a high dividend yield of 615.0% and a payout ratio of 125.27%.

Denali Advisors LLC lessened its position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 23.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,012 shares of the real estate investment trust's stock after selling 7,610 shares during the quarter. Denali Advisors LLC owned 0.05% of LTC Properties worth $866,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV acquired a new stake in LTC Properties during the first quarter worth about $33,000. Rossby Financial LCC acquired a new stake in LTC Properties during the first quarter worth about $58,000. Anchor Investment Management LLC acquired a new stake in LTC Properties during the first quarter worth about $60,000. IFP Advisors Inc grew its holdings in LTC Properties by 21.2% during the second quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 296 shares during the period. Finally, Elite Financial Inc. acquired a new stake in LTC Properties during the first quarter worth about $69,000. Hedge funds and other institutional investors own 69.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LTC shares. Cantor Fitzgerald started coverage on LTC Properties in a report on Wednesday, October 1st. They set a "neutral" rating and a $38.00 target price on the stock. Royal Bank Of Canada raised their target price on LTC Properties from $36.00 to $37.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Wedbush raised LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of LTC Properties in a report on Wednesday, October 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $43.00 target price on shares of LTC Properties in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.60.

LTC Properties Stock Performance

Shares of LTC stock opened at $35.36 on Thursday. The company has a market capitalization of $1.63 billion, a P/E ratio of 19.43 and a beta of 0.68. The business's 50 day moving average is $35.81 and its two-hundred day moving average is $35.37. 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 12-month low of $31.70 and a 12-month high of $39.89.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly 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. The company had revenue of $30.18 million for the quarter, compared to the consensus estimate of $49.97 million. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.LTC Properties's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently declared a dec 25 dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 23rd. This represents a yield of 615.0%. LTC Properties's dividend payout ratio is currently 125.27%.

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.

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