Legal & General Group Plc Makes New $11.30 Million Investment in LTC Properties, Inc. $LTC

Key Points

• Legal & General Group Plc purchased 293,882 shares of LTC Properties valued at approximately $11.3 million, acquiring a 0.55% stake. Institutional investors collectively own 69.25% of the healthcare REIT.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $43.67; Deutsche Bank recently upgraded the stock to “buy” with a $55 target.
• LTC Properties reported quarterly EPS of $0.56, exceeding estimates by $0.08, while revenue rose 63.6% year over year to $98.08 million. The company also declared a monthly dividend of $0.19 per share, representing a 5.6% annualized yield.

Legal & General Group Plc purchased a new position 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. The fund purchased 293,882 shares of the real estate investment trust's stock, valued at approximately $11,300,000. Legal & General Group Plc owned 0.55% of LTC Properties as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Optiver Holding B.V. increased its position in LTC Properties by 153.1% during the first quarter. Optiver Holding B.V. now owns 772 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 467 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in LTC Properties by 187.5% in the 4th quarter. Farther Finance Advisors LLC now owns 900 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 587 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in LTC Properties by 27.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,606 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 348 shares during the last quarter. KBC Group NV purchased a new stake in shares of LTC Properties in the 1st quarter valued at approximately $78,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of LTC Properties in the 4th quarter valued at approximately $80,000. Institutional investors and hedge funds own 69.25% of the company's stock.

Analysts Set New Price Targets

LTC has been the subject of a number of recent analyst reports. Cantor Fitzgerald cut their price target on shares of LTC Properties from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Monday, May 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of LTC Properties in a report on Wednesday, August 5th. Citigroup reiterated a "market outperform" rating on shares of LTC Properties in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft raised LTC Properties from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Thursday. Finally, Nomura raised LTC Properties to a "neutral" rating in a research note on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.67.

LTC Properties Price Performance

LTC Properties stock opened at $40.38 on Tuesday. The company's 50 day simple moving average is $39.97 and its 200-day simple moving average is $38.84. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 14.90 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 company has a debt-to-equity ratio of 0.58, a quick ratio of 8.60 and a current ratio of 8.60.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The firm had revenue of $98.08 million for the quarter, compared to analyst estimates of $79.01 million. During the same period in the prior year, the business posted $0.68 EPS. The business's revenue for the quarter was up 63.6% compared to the same quarter last year. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. As a group, equities research analysts expect that LTC Properties, Inc. will post 2.78 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.19 per share. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 22nd. LTC Properties's dividend payout ratio (DPR) is currently 84.13%.

Insider Transactions at LTC Properties

In other news, EVP David M. Boitano acquired 10,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was acquired at an average cost of $34.77 per share, with a total value of $347,700.00. Following the completion of the purchase, the executive vice president owned 46,160 shares of the company's stock, valued at $1,604,983.20. This represents a 27.65% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy Triche sold 3,125 shares of the business's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $39.54, for a total value of $123,562.50. Following the completion of the sale, the director owned 37,786 shares in the company, valued at $1,494,058.44. This represents a 7.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders bought a total of 14,000 shares of company stock worth $500,900 over the last ninety days. 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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