Wellington Management Group LLP Acquires 126,884 Shares of LTC Properties, Inc. $LTC

Key Points

• Wellington Management increased its LTC Properties stake by 21.1%, buying 126,884 additional shares to own 728,696 shares valued at approximately $28 million. Institutional investors collectively own 69.25% of the REIT.
• Analyst sentiment is generally positive: LTC has a “Moderate Buy” consensus rating from nine analysts, with an average price target of $44. Deutsche Bank and RBC recently upgraded the stock to buy/outperform.
• LTC reported quarterly EPS of $0.56, exceeding the $0.48 consensus estimate, while revenue rose 63.6% year over year to $98.08 million. The company also declared a monthly dividend of $0.19 per share, representing an approximately 5.5% annualized yield.

Wellington Management Group LLP grew its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 21.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 728,696 shares of the real estate investment trust's stock after buying an additional 126,884 shares during the period. Wellington Management Group LLP owned 1.35% of LTC Properties worth $28,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LTC. Keudell Morrison Wealth Management acquired a new stake in LTC Properties during the 4th quarter valued at $1,365,000. Vanguard Group Inc. raised its position in shares of LTC Properties by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,238,012 shares of the real estate investment trust's stock valued at $248,843,000 after purchasing an additional 125,889 shares during the period. Legal & General Group Plc acquired a new stake in shares of LTC Properties during the 2nd quarter worth about $11,300,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of LTC Properties during the 4th quarter worth about $6,556,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of LTC Properties during the 2nd quarter worth about $1,194,000. 69.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LTC has been the topic of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of LTC Properties in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded LTC Properties from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a report on Thursday, August 27th. Royal Bank Of Canada upgraded LTC Properties from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $41.00 to $45.00 in a research note on Friday, August 14th. Wells Fargo & Company lifted their price target on LTC Properties from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Nomura upgraded LTC Properties to a "neutral" rating in a research note on Friday, August 14th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.00.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director David Gruber purchased 3,500 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price of $38.30 per share, for a total transaction of $134,050.00. Following the purchase, the director owned 47,545 shares in the company, valued at approximately $1,820,973.50. This trade represents a 7.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Triche sold 3,125 shares of the company's stock in a transaction on Monday, July 13th. The stock was sold at an average price of $39.54, for a total value of $123,562.50. Following the sale, the director owned 37,786 shares of the company's stock, valued at approximately $1,494,058.44. This represents a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.20% of the company's stock.

LTC Properties Stock Performance

LTC opened at $41.29 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 8.60 and a current ratio of 8.60. LTC Properties, Inc. has a 52-week low of $33.64 and a 52-week high of $43.00. The firm has a market cap of $2.23 billion, a P/E ratio of 15.24 and a beta of 0.58. The business's fifty day moving average is $40.25 and its 200-day moving average is $38.90.

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. LTC Properties had a return on equity of 11.42% and a net margin of 38.84%.The business had revenue of $98.08 million during the quarter, compared to the consensus estimate of $79.01 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. LTC Properties's revenue for the quarter was up 63.6% compared to the same quarter last year. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Sell-side analysts expect that LTC Properties, Inc. will post 2.78 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be issued a $0.19 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 22nd. LTC Properties's dividend payout ratio (DPR) is currently 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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