Keudell Morrison Wealth Management Purchases New Position in LTC Properties, Inc. $LTC

Key Points

• Keudell Morrison Wealth Management opened a new position in LTC Properties during the fourth quarter, buying 39,689 shares valued at about $1.365 million. The stake represented 0.08% of the REIT.
• LTC Properties reported better-than-expected Q1 results, with earnings of $0.69 per share versus the $0.52 estimate and revenue of $94.41 million versus $72.98 million expected. Revenue surged 94.7% year over year.
• The company declared a monthly dividend of $0.19 per share, implying a 5.9% annualized yield. Analysts currently rate the stock a Moderate Buy with a consensus target price of $40.40.

Keudell Morrison Wealth Management bought a new position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 39,689 shares of the real estate investment trust's stock, valued at approximately $1,365,000. Keudell Morrison Wealth Management owned 0.08% of LTC Properties at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in LTC Properties by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 7,238,012 shares of the real estate investment trust's stock worth $248,843,000 after buying an additional 125,889 shares during the period. State Street Corp boosted its position in LTC Properties by 2.0% during the 2nd quarter. State Street Corp now owns 3,163,763 shares of the real estate investment trust's stock worth $109,498,000 after buying an additional 61,678 shares during the period. American Century Companies Inc. boosted its position in LTC Properties by 4,205.5% during the 3rd quarter. American Century Companies Inc. now owns 812,235 shares of the real estate investment trust's stock worth $29,939,000 after buying an additional 793,370 shares during the period. Advisors Capital Management LLC boosted its position in LTC Properties by 1.7% during the 4th quarter. Advisors Capital Management LLC now owns 763,536 shares of the real estate investment trust's stock worth $26,250,000 after buying an additional 12,847 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in LTC Properties by 3.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 655,717 shares of the real estate investment trust's stock worth $24,169,000 after buying an additional 22,908 shares during the period. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on LTC. Weiss Ratings upgraded shares of LTC Properties from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 8th. Cantor Fitzgerald cut their target price on shares of LTC Properties from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Monday, May 11th. Royal Bank Of Canada lifted their target price on shares of LTC Properties from $38.00 to $41.00 and gave the stock a "sector perform" rating in a research report on Friday, March 20th. Finally, Wells Fargo & Company lifted their target price on shares of LTC Properties from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $40.40.

LTC Properties Stock Down 1.0%

Shares of NYSE LTC opened at $38.61 on Friday. The company has a market capitalization of $1.98 billion, a P/E ratio of 15.63 and a beta of 0.59. LTC Properties, Inc. has a 52-week low of $33.64 and a 52-week high of $40.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 9.20 and a current ratio of 9.20. The company's 50 day moving average price is $38.43 and its 200-day moving average price is $37.16.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.17. The firm had revenue of $94.41 million for the quarter, compared to the consensus estimate of $72.98 million. LTC Properties had a net margin of 38.99% and a return on equity of 10.87%. The company's revenue for the quarter was up 94.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. Equities analysts forecast that LTC Properties, Inc. will post 2.77 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a $0.19 dividend. The ex-dividend date is Monday, June 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. LTC Properties's payout ratio is 92.31%.

Insider Activity

In other news, Director David L. Gruber purchased 7,000 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were purchased at an average price of $38.00 per share, for a total transaction of $266,000.00. Following the transaction, the director owned 36,931 shares of the company's stock, valued at approximately $1,403,378. This trade represents a 23.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.20% of the company's stock.

LTC Properties Profile

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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