Strs Ohio Buys New Shares in LTC Properties, Inc. $LTC

Key Points

• Strs Ohio has acquired a new stake in LTC Properties, purchasing 8,400 shares valued at approximately $298,000 during the first quarter.
• Several other institutional investors have increased their stakes in LTC Properties, with Vanguard Group and Invesco Ltd. significantly boosting their holdings.
• Analysts have recently upgraded LTC Properties, leading to an increased average price target from $36.00 to $43.00, with a consensus rating of "Buy".

Strs Ohio purchased a new stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,400 shares of the real estate investment trust's stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in LTC Properties by 0.6% during 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in LTC Properties by 15.4% during 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 in the last quarter. Advisors Capital Management LLC increased its stake in LTC Properties by 2.6% during the 1st quarter. Advisors Capital Management LLC now owns 476,084 shares of the real estate investment trust's stock valued at $16,877,000 after purchasing an additional 11,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in LTC Properties by 0.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 333,977 shares of the real estate investment trust's stock valued at $11,539,000 after purchasing an additional 1,804 shares in the last quarter. Finally, Invesco Ltd. increased its stake in LTC Properties by 20.0% during the 1st quarter. Invesco Ltd. now owns 296,728 shares of the real estate investment trust's stock valued at $10,519,000 after purchasing an additional 49,394 shares in the last quarter. Institutional investors own 69.25% of the company's stock.

Analyst Upgrades and Downgrades

LTC has been the subject of a number of recent research reports. JMP Securities boosted their price target on shares of LTC Properties from $40.00 to $43.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. Wedbush upgraded shares of LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada increased their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, Wells Fargo & Company increased their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, LTC Properties presently has a consensus rating of "Buy" and an average price target of $39.00.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano acquired 6,000 shares of the company's stock in a transaction on Friday, June 27th. The shares were acquired at an average cost of $34.71 per share, with a total value of $208,260.00. Following the completion of the acquisition, the executive vice president directly owned 15,626 shares in the company, valued at $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.

LTC Properties Price Performance

LTC opened at $35.45 on Wednesday. The firm has a market cap of $1.63 billion, a P/E ratio of 19.48 and a beta of 0.69. The firm has a 50-day moving average of $35.69 and a 200 day moving average of $35.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06. LTC Properties, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $39.89.

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The company 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%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. On average, research analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 29th. Shareholders 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) annualized dividend and a yield of 6.4%. LTC Properties's dividend payout ratio is 125.27%.

About LTC Properties

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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