Mitsubishi UFJ Asset Management Co. Ltd. Makes New $1.63 Million Investment in LTC Properties, Inc. $LTC

Key Points

• Mitsubishi UFJ Asset Management acquired 42,439 shares of LTC Properties worth approximately $1.63 million, while institutional investors collectively own 69.25% of the REIT.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $41.40; RBC upgraded the stock to “outperform” with a $45 target.
• LTC Properties exceeded quarterly expectations, reporting $0.56 in EPS and $98.08 million in revenue, while declaring a monthly dividend of $0.19 per share, implying a 5.6% annualized yield.

Mitsubishi UFJ Asset Management Co. Ltd. bought 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 disclosure with the SEC. The fund bought 42,439 shares of the real estate investment trust's stock, valued at approximately $1,632,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of LTC Properties at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LTC. ProShare Advisors LLC grew its position in LTC Properties by 3.4% during the fourth quarter. ProShare Advisors LLC now owns 8,874 shares of the real estate investment trust's stock valued at $305,000 after purchasing an additional 291 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of LTC Properties by 5.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,028 shares of the real estate investment trust's stock valued at $242,000 after acquiring an additional 336 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of LTC Properties by 33.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,346 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 340 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of LTC Properties by 27.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,606 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 348 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of LTC Properties by 2.5% in the first quarter. Assetmark Inc. now owns 19,129 shares of the real estate investment trust's stock worth $711,000 after acquiring an additional 462 shares during the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LTC. Nomura upgraded LTC Properties to a "neutral" rating in a report on Friday, August 14th. Citigroup restated a "market outperform" rating on shares of LTC Properties in a research note on Wednesday, June 10th. Royal Bank Of Canada raised 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. Cantor Fitzgerald reduced their price target on LTC Properties from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price target on LTC Properties from $39.00 to $40.00 and gave the company an "equal weight" rating in a research note on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, LTC Properties has a consensus rating of "Moderate Buy" and an average target price of $41.40.

Insider Buying and Selling at LTC Properties

In related news, EVP David M. Boitano purchased 10,000 shares of the stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $34.77 per share, for a total transaction of $347,700.00. Following the completion of the acquisition, the executive vice president directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David L. Gruber purchased 3,500 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average cost of $38.30 per share, for a total transaction of $134,050.00. Following the transaction, the director owned 47,545 shares of the company's stock, valued at approximately $1,820,973.50. This trade represents a 7.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 14,000 shares of company stock worth $500,900 over the last 90 days. Insiders own 2.20% of the company's stock.

LTC Properties Trading Down 1.0%

LTC Properties stock opened at $40.36 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 8.60 and a quick ratio of 8.60. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 14.89 and a beta of 0.56. LTC Properties, Inc. has a one year low of $33.64 and a one year high of $43.00. The company's fifty day moving average price is $39.48 and its two-hundred day moving average price is $38.68.

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 earnings per share for the quarter, topping 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%.The business's quarterly revenue was up 63.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, analysts forecast that LTC Properties, Inc. will post 2.77 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a yield of 5.6%. LTC Properties's dividend payout ratio is presently 84.13%.

LTC Properties Company 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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