82,699 Shares in LTC Properties, Inc. $LTC Bought by Tocqueville Asset Management L.P.

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 the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 82,699 shares of the real estate investment trust's stock, valued at approximately $2,932,000. Tocqueville Asset Management L.P. owned 0.18% of LTC Properties as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LTC. GF Fund Management CO. LTD. purchased a new position in LTC Properties during the fourth quarter valued at $27,000. KBC Group NV purchased a new position in LTC Properties during the first quarter valued at $33,000. Rossby Financial LCC purchased a new position in LTC Properties during the first quarter valued at $58,000. Elite Financial Inc. purchased a new position in LTC Properties during the first quarter valued at $69,000. Finally, State of Wyoming raised its stake in LTC Properties by 91.7% during the fourth quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust's stock valued at $101,000 after buying an additional 1,396 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company's stock.

LTC Properties Stock Up 0.6%

Shares of LTC stock traded up $0.2260 during mid-day trading on Friday, hitting $36.7560. The company's stock had a trading volume of 311,098 shares, compared to its average volume of 349,785. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $39.89. The business has a 50-day moving average price of $35.19 and a 200 day moving average price of $35.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 20.20 and a beta of 0.66.

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, topping the consensus estimate of $0.67 by $0.01. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The firm had revenue of $30.18 million during the quarter, compared to analysts' expectations of $49.97 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company's revenue was up 20.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Research analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, August 29th. Investors 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 dividend yield of 642.0%. LTC Properties's payout ratio is presently 125.27%.

Insider Activity at LTC Properties

In other news, EVP David M. Boitano acquired 6,000 shares of the business's 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 completion of the acquisition, the executive vice president directly owned 15,626 shares of the company's stock, valued at approximately $542,378.46. The trade was a 62.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LTC shares. Wedbush upgraded LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. JMP Securities lifted their price objective on LTC Properties from $40.00 to $43.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada lifted their price objective on LTC Properties from $36.00 to $37.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, LTC Properties has an average rating of "Buy" and an average target price of $39.00.

LTC Properties 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.