Invesco Ltd. raised its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 20.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,728 shares of the real estate investment trust's stock after purchasing an additional 49,394 shares during the quarter. Invesco Ltd. owned 0.65% of LTC Properties worth $10,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Swiss National Bank grew its stake in LTC Properties by 2.8% in the 1st quarter. Swiss National Bank now owns 87,762 shares of the real estate investment trust's stock valued at $3,111,000 after purchasing an additional 2,400 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in LTC Properties by 10.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 32,847 shares of the real estate investment trust's stock valued at $1,164,000 after purchasing an additional 3,200 shares during the period. Charles Schwab Investment Management Inc. grew its stake in LTC Properties by 15.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust's stock valued at $33,653,000 after purchasing an additional 126,598 shares during the period. Vanguard Group Inc. grew its stake in LTC Properties by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,000,767 shares of the real estate investment trust's stock valued at $248,177,000 after purchasing an additional 39,833 shares during the period. Finally, New Age Alpha Advisors LLC grew its stake in LTC Properties by 114.3% in the 1st quarter. New Age Alpha Advisors LLC now owns 55,662 shares of the real estate investment trust's stock valued at $1,973,000 after purchasing an additional 29,691 shares during the period. Institutional investors own 69.25% of the company's stock.
Insider Transactions at LTC Properties
In related news, EVP David M. Boitano acquired 6,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were acquired at an average price of $34.71 per share, with a total value of $208,260.00. Following the acquisition, the executive vice president owned 15,626 shares of the company's stock, valued at approximately $542,378.46. This trade represents a 62.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on LTC. JMP Securities increased their price target on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Wedbush upgraded LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company increased their price target on LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Royal Bank Of Canada increased their price target on LTC Properties from $36.00 to $37.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $39.25.
Read Our Latest Stock Report on LTC Properties
LTC Properties Price Performance
LTC traded up $0.03 during trading on Friday, reaching $36.50. 272,712 shares of the company were exchanged, compared to its average volume of 386,143. The company's 50-day moving average is $35.35 and its two-hundred day moving average is $35.23. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 20.06 and a beta of 0.66. The company has a quick ratio of 9.06, a current 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 data 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 business 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 firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Research analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.
LTC Properties Announces Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, August 21st. This represents a c) dividend on an annualized basis and a yield of 6.2%. LTC Properties's dividend payout ratio is 125.27%.
About LTC Properties
(
Free Report)
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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