LTC Properties (NYSE:LTC) Hits New 52-Week High - Time to Buy?

Key Points

• LTC Properties shares reached a new 52-week high of $44.18, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $46.50.
• The healthcare REIT reported quarterly results above expectations, with EPS of $0.56 versus the $0.48 consensus and revenue of $98.08 million, up 63.6% year over year.
• LTC declared a monthly dividend of $0.19 per share, equivalent to an annualized $2.28 payout and a 5.2% yield; an insider also purchased 3,500 shares, while institutional ownership stands at 69.25%.

Shares of LTC Properties, Inc. (NYSE:LTC - Get Free Report) reached a new 52-week high during trading on Thursday. The company traded as high as $44.18 and last traded at $44.0950, with a volume of 40,756 shares traded. The stock had previously closed at $43.20.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Huntington initiated coverage on shares of LTC Properties in a research note on Thursday, September 10th. They set an "outperform" rating and a $47.00 price objective on the stock. Nomura upgraded LTC Properties to a "neutral" rating 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 for the company in a research note on Thursday, August 27th. Wells Fargo & Company lifted their price target on LTC Properties from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings cut LTC Properties from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, September 24th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.50.

LTC Properties Stock Performance

The company's 50-day simple moving average is $41.63 and its 200-day simple moving average is $39.68. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 16.27 and a beta of 0.55. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.58.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. 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 prior year, the firm earned $0.68 EPS. The firm's quarterly revenue was up 63.6% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Analysts predict that LTC Properties, Inc. will post 2.78 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 23rd will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 23rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.2%. LTC Properties's payout ratio is currently 84.13%.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director David Gruber purchased 3,500 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average cost of $38.30 per share, with a total value of $134,050.00. Following the completion of the transaction, the director owned 47,545 shares of the company's stock, valued at approximately $1,820,973.50. This represents a 7.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On LTC Properties

A number of institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in LTC Properties during the second quarter valued at about $1,425,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of LTC Properties during the 2nd quarter worth about $1,194,000. Bank of America Corp DE bought a new stake in shares of LTC Properties during the 2nd quarter worth about $6,581,000. Legal & General Group Plc bought a new stake in shares of LTC Properties during the 2nd quarter worth about $11,300,000. Finally, Wellington Management Group LLP increased its holdings in shares of LTC Properties by 21.1% during the 2nd quarter. Wellington Management Group LLP now owns 728,696 shares of the real estate investment trust's stock valued at $28,018,000 after acquiring an additional 126,884 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.

About LTC Properties

LTC Properties, Inc NYSE: LTC is a real estate investment trust that invests in healthcare-related properties. The company focuses primarily on senior housing and healthcare real estate, including assisted living, memory care, independent living and skilled nursing facilities.

LTC supports its portfolio through a range of investment structures, including property acquisitions, long-term leases, mortgage loans, mezzanine financing, preferred equity investments and joint ventures. Its properties are generally operated by third-party healthcare providers under lease or other investment arrangements.

Founded in 1992, LTC Properties serves markets across the United States.

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