Nuveen LLC Buys Shares of 126,576 LTC Properties, Inc. $LTC

Key Points

• Nuveen LLC made a significant investment of approximately $4.49 million in LTC Properties by acquiring 126,576 shares in the first quarter.
• LTC Properties recently reported an earnings per share (EPS) of $0.68, exceeding analysts' expectations, alongside a 20.2% year-over-year revenue increase.
• The company will distribute a dividend of $0.19 on August 29th, indicating a notable yield of 642.0% despite a high payout ratio.

Nuveen LLC purchased a new position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 126,576 shares of the real estate investment trust's stock, valued at approximately $4,487,000. Nuveen LLC owned 0.28% of LTC Properties as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new position in LTC Properties in the fourth quarter valued at about $27,000. KBC Group NV bought a new stake in LTC Properties during the 1st quarter worth $33,000. Rossby Financial LCC bought a new stake in shares of LTC Properties during the first quarter worth about $58,000. Elite Financial Inc. acquired a new position in LTC Properties in the 1st quarter valued at approximately $69,000. Finally, State of Wyoming increased its holdings in LTC Properties by 91.7% in the fourth quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust's stock valued at $101,000 after purchasing an additional 1,396 shares during the period. Institutional investors and hedge funds own 69.25% of the company's stock.

Insiders Place Their Bets

In other LTC Properties news, EVP David M. Boitano purchased 6,000 shares of LTC Properties stock in a transaction that occurred on Friday, June 27th. The stock was bought 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 $542,378.46. This trade represents a 62.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company's stock.

LTC Properties Stock Up 0.1%

Shares of NYSE LTC traded up $0.03 during midday trading on Monday, reaching $36.50. 272,712 shares of the company's stock traded hands, compared to its average volume of 378,215. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 20.06 and a beta of 0.69. 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 one year low of $31.70 and a one year high of $39.89. The stock's 50 day simple moving average is $35.37 and its 200-day simple moving average is $35.25.

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $30.18 million during the quarter, compared to analyst estimates of $49.97 million. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. LTC Properties's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. On average, analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently announced 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. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Thursday, August 21st. LTC Properties's dividend payout ratio (DPR) is 125.27%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JMP Securities upped their target price on LTC Properties from $40.00 to $43.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company raised their price target on shares of LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Wedbush upgraded shares of LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. 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 report on Friday, August 8th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $39.25.

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.