LTC Properties (NYSE:LTC) Hits New 12-Month High - Time to Buy?

Key Points

• LTC Properties reached a new 52-week high of $43.56, with shares trading about 2% higher and above both their 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating from six Buy and four Hold ratings, with an average price target of $44.43.
• The healthcare REIT reported quarterly earnings and revenue above expectations and announced a $0.19 monthly dividend, equivalent to an approximately 5.2% annualized yield.

Shares of LTC Properties, Inc. (NYSE:LTC - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $43.56 and last traded at $43.4950, with a volume of 969035 shares. The stock had previously closed at $42.64.

Analyst Upgrades and Downgrades

LTC has been the topic of several research reports. Wells Fargo & Company lifted their price target on shares of LTC Properties from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, September 1st. Nomura raised shares of LTC Properties to a "neutral" rating in a research note on Friday, August 14th. Royal Bank Of Canada upgraded shares of LTC Properties from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $41.00 to $45.00 in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft raised LTC Properties from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research note on Thursday, August 27th. Finally, Weiss Ratings raised shares of LTC Properties from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, September 8th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.43.

LTC Properties Trading Up 2.0%

The firm has a 50-day moving average of $40.74 and a 200 day moving average of $39.05. The company has a market cap of $2.34 billion, a P/E ratio of 16.05 and a beta of 0.58. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.58.

LTC Properties (NYSE:LTC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping 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 period in the previous year, the company posted $0.68 earnings per share. The firm's revenue for the quarter was up 63.6% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, analysts predict that LTC Properties, Inc. will post 2.78 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a dividend of $0.19 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, September 22nd. LTC Properties's payout ratio is presently 84.13%.

Insider Buying and Selling at LTC Properties

In related news, 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 transaction of $123,562.50. Following the completion of the sale, the director owned 37,786 shares in the company, valued at approximately $1,494,058.44. This represents a 7.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David L. Gruber bought 3,500 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average price of $38.30 per share, for a total transaction of $134,050.00. Following the purchase, the director directly owned 47,545 shares in the company, valued at approximately $1,820,973.50. The trade was a 7.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of LTC Properties

A number of institutional investors have recently modified their holdings of LTC. IFP Advisors Inc boosted its holdings in shares of LTC Properties by 8.6% in the 2nd quarter. IFP Advisors Inc now owns 3,079 shares of the real estate investment trust's stock worth $118,000 after purchasing an additional 245 shares during the period. ProShare Advisors LLC grew its position in LTC Properties by 3.4% in the 4th quarter. ProShare Advisors LLC now owns 8,874 shares of the real estate investment trust's stock valued at $305,000 after acquiring an additional 291 shares during the last quarter. Hantz Financial Services Inc. increased its stake 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 worth $55,000 after buying an additional 348 shares during the period. Nissay Asset Management Corp Japan raised its stake in shares of LTC Properties by 5.8% during the second quarter. Nissay Asset Management Corp Japan now owns 7,999 shares of the real estate investment trust's stock valued at $308,000 after acquiring an additional 439 shares in the last quarter. Finally, Assetmark Inc. raised its position in LTC Properties by 2.5% during the 1st quarter. Assetmark Inc. now owns 19,129 shares of the real estate investment trust's stock valued at $711,000 after purchasing an additional 462 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust (REIT) that invests in healthcare-related real estate, with a primary focus on senior housing and skilled nursing properties. The company owns, finances and leases properties to healthcare operators that provide long-term care and related services.

LTC's portfolio activities include investments in assisted living communities, independent living facilities, memory care properties and skilled nursing centers. In addition to owning and leasing real estate, the company may provide mortgage loans and other financing to operators and participate in investments through joint ventures.

Founded in 1992 and headquartered in Westlake Village, California, LTC Properties serves the United States market.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.