Tocqueville Asset Management L.P. Invests $4.75 Million in LTC Properties, Inc. $LTC

Key Points

• Tocqueville Asset Management acquired 123,649 shares of LTC Properties in the second quarter, investing approximately $4.75 million and taking a 0.23% stake. Institutional investors collectively own 69.25% of the REIT.
• LTC Properties reported quarterly EPS of $0.56, beating estimates of $0.48, while revenue rose 63.6% year over year to $98.08 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $41.40.
• The company declared a monthly dividend of $0.19 per share, implying a 5.6% annualized yield. Insider activity was also positive overall, with insiders purchasing 14,000 shares worth roughly $500,900 over the past three months.

Tocqueville Asset Management L.P. acquired a new stake in LTC Properties, Inc. (NYSE:LTC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 123,649 shares of the real estate investment trust's stock, valued at approximately $4,754,000. Tocqueville Asset Management L.P. owned about 0.23% of LTC Properties as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Optiver Holding B.V. grew its holdings in shares of 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 valued at $29,000 after purchasing an additional 467 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of 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 worth $31,000 after acquiring an additional 587 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in LTC Properties by 33.8% in 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 purchasing an additional 340 shares during the last quarter. Hantz Financial Services Inc. lifted its position 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. Finally, KBC Group NV acquired a new position in LTC Properties during the 1st quarter valued at about $78,000. Institutional investors own 69.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LTC shares. Wells Fargo & Company lifted their price target on LTC Properties from $39.00 to $40.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Citigroup reaffirmed a "market outperform" rating on shares of LTC Properties in a research note on Wednesday, June 10th. Royal Bank Of Canada upgraded LTC Properties from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $41.00 to $45.00 in a research report on Friday, August 14th. Cantor Fitzgerald decreased their price target on LTC Properties from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Monday, May 11th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of LTC Properties in a report on Wednesday, August 5th. 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 presently has an average rating of "Moderate Buy" and an average target price of $41.40.

Insiders Place Their Bets

In other LTC Properties news, Director Timothy Triche sold 3,125 shares of the company's stock in a transaction dated 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 directly owned 37,786 shares of the company's stock, valued at approximately $1,494,058.44. This represents a 7.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David M. Boitano acquired 10,000 shares of LTC Properties stock in a transaction dated Thursday, June 4th. The shares were acquired at an average price of $34.77 per share, with a total value of $347,700.00. Following the transaction, the executive vice president owned 46,160 shares in the company, valued at approximately $1,604,983.20. This represents a 27.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 14,000 shares of company stock worth $500,900. 2.20% of the stock is owned by corporate insiders.

LTC Properties Price Performance

NYSE LTC opened at $40.70 on Friday. The company's 50 day simple moving average is $39.41 and its 200 day simple moving average is $38.67. 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 firm has a market capitalization of $2.19 billion, a PE ratio of 15.02 and a beta of 0.56. LTC Properties, Inc. has a 12 month low of $33.64 and a 12 month high of $43.00.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $98.08 million for 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 firm's revenue for the quarter was up 63.6% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. As a group, equities research analysts forecast that LTC Properties, Inc. will post 2.77 EPS for the current fiscal year.

LTC Properties Announces Dividend

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