Tocqueville Asset Management L.P. Invests $2.93 Million in LTC Properties, Inc. $LTC

Key Points

• Tocqueville Asset Management L.P. recently made a new investment in LTC Properties, purchasing 82,699 shares valued at approximately $2.93 million, representing 0.18% of the company's total shares.
• LTC Properties reported earnings per share (EPS) of $0.68 for the last quarter, beating estimates, despite revenues being lower than expected at $30.18 million.
• The company declared a dividend of $0.19 scheduled for August 29, representing a high yield of 642.0%, though its payout ratio stands at 125.27%.

Tocqueville Asset Management L.P. bought a new stake in LTC Properties, Inc. (NYSE:LTC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 82,699 shares of the real estate investment trust's stock, valued at approximately $2,932,000. Tocqueville Asset Management L.P. owned about 0.18% 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 made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of LTC Properties by 4.5% in the first quarter. American Century Companies Inc. now owns 17,571 shares of the real estate investment trust's stock valued at $623,000 after buying an additional 750 shares during the last quarter. Resona Asset Management Co. Ltd. raised its holdings in shares of LTC Properties by 9.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 19,680 shares of the real estate investment trust's stock valued at $694,000 after buying an additional 1,736 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of LTC Properties by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 143,576 shares of the real estate investment trust's stock valued at $5,090,000 after buying an additional 30,817 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of LTC Properties by 2.0% in the first quarter. Independent Advisor Alliance now owns 56,883 shares of the real estate investment trust's stock valued at $2,017,000 after buying an additional 1,124 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of LTC Properties in the first quarter valued at about $4,487,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at LTC Properties

In related news, EVP David M. Boitano bought 6,000 shares of the company's stock in a transaction on Friday, June 27th. The stock was bought 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 owned 15,626 shares in the company, valued at approximately $542,378.46. This represents a 62.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company's stock.

LTC Properties Stock Performance

NYSE LTC traded up $0.2260 during trading hours on Friday, hitting $36.7560. 477,849 shares of the stock were exchanged, compared to its average volume of 393,789. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 20.20 and a beta of 0.66. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The stock has a 50-day moving average of $35.23 and a 200 day moving average of $35.15. 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 (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 (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The firm had revenue of $30.18 million during the quarter, compared to analysts' expectations of $49.97 million. During the same period in the prior year, the company posted $0.45 earnings per share. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. As a group, equities research analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 22nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a yield of 642.0%. LTC Properties's dividend payout ratio (DPR) is 125.27%.

Wall Street Analysts Forecast Growth

LTC has been the subject of a number of research reports. JMP Securities upped their target price on shares of LTC Properties from $40.00 to $43.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Wedbush raised 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 shares of 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 assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, LTC Properties has an average rating of "Buy" and an average target price of $39.00.

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.