LTC Properties, Inc. (NYSE:LTC) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• LTC Properties, Inc. has received an average rating of "Moderate Buy" from six analysts, with a target price set at $39.00.
• Executives have been active in buying shares, with EVP David M. Boitano increasing his ownership by 62.33% after purchasing 6,000 shares at an average price of $34.71.
• The company recently announced a monthly dividend of $0.19 per share, which represents an annualized dividend yield of 6.4%.

LTC Properties, Inc. (NYSE:LTC - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $39.00.

LTC has been the subject of several research reports. Royal Bank Of Canada lifted their target price 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. BMO Capital Markets upgraded LTC Properties from an "underperform" rating to a "market perform" rating and set a $39.00 price objective for the company in a research report on Wednesday. Wells Fargo & Company boosted their price objective on LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. JMP Securities raised their target price 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. Finally, Wedbush upgraded shares of LTC Properties to a "strong-buy" rating in a research report on Wednesday, July 2nd.

Insider Buying and Selling at LTC Properties

In related news, EVP David M. Boitano purchased 6,000 shares of LTC Properties stock in a transaction dated Friday, June 27th. The shares were acquired at an average cost of $34.71 per share, for a total transaction of $208,260.00. Following the transaction, the executive vice president directly owned 15,626 shares of the company's stock, valued at approximately $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LTC Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in shares of LTC Properties by 1.1% in the 4th quarter. Ameriprise Financial Inc. now owns 109,969 shares of the real estate investment trust's stock valued at $3,799,000 after acquiring an additional 1,151 shares during the period. BNP Paribas Financial Markets increased its stake in LTC Properties by 4.1% in the fourth quarter. BNP Paribas Financial Markets now owns 9,906 shares of the real estate investment trust's stock valued at $342,000 after purchasing an additional 392 shares in the last quarter. ProShare Advisors LLC raised its holdings in LTC Properties by 50.3% in the fourth quarter. ProShare Advisors LLC now owns 13,487 shares of the real estate investment trust's stock worth $466,000 after purchasing an additional 4,515 shares during the period. State of Wyoming raised its holdings in LTC Properties by 91.7% in the fourth quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust's stock worth $101,000 after purchasing an additional 1,396 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of LTC Properties during the fourth quarter worth $294,000. Institutional investors own 69.25% of the company's stock.

LTC Properties Trading Up 0.8%

LTC opened at $35.45 on Wednesday. LTC Properties has a 1-year low of $31.70 and a 1-year high of $39.89. The stock has a market capitalization of $1.63 billion, a PE ratio of 19.48 and a beta of 0.69. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $35.69 and a two-hundred day moving average price of $35.36.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.68 EPS for the quarter, beating 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 business had revenue of $30.18 million for the quarter, compared to analysts' expectations of $49.97 million. During the same period in the prior year, the firm earned $0.45 earnings per share. LTC Properties's revenue was up 20.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. As a group, equities analysts anticipate that LTC Properties will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 21st were given a dividend of $0.19 per share. The ex-dividend date was Thursday, August 21st. This represents a c) annualized dividend and a dividend yield of 6.4%. LTC Properties's payout ratio is presently 125.27%.

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.

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