LTC Properties (NYSE:LTC) Reaches New 1-Year High - Here's What Happened

Key Points

• LTC Properties reached a new 52-week high, trading as high as $45.85 and last at $45.9850, above its prior close of $45.14.
• Analyst sentiment is broadly positive, with five Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $47.40.
• The healthcare REIT reported quarterly earnings and revenue above expectations and declared a monthly dividend of $0.19, equivalent to an annualized $2.28 payout and a 5.0% yield.

LTC Properties, Inc. (NYSE:LTC - Get Free Report) reached a new 52-week high during trading on Tuesday. The stock traded as high as $45.85 and last traded at $45.9850, with a volume of 64,884 shares trading hands. The stock had previously closed at $45.14.

Analyst Ratings Changes

Several research firms have weighed in on LTC. Huntington began coverage on shares of LTC Properties in a research report on Thursday, September 10th. They issued an "outperform" rating and a $47.00 price target on the stock. Wells Fargo & Company lifted their target price on LTC Properties from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Monday, October 19th. Royal Bank Of Canada boosted their price target on LTC Properties from $45.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, October 2nd. Weiss Ratings cut LTC Properties from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, September 24th. Finally, Nomura upgraded LTC Properties to a "neutral" rating in a research note on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, LTC Properties presently has a consensus rating of "Moderate Buy" and an average price target of $47.40.

LTC Properties Price Performance

The company's fifty day moving average is $42.58 and its two-hundred day moving average is $39.53. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 16.92 and a beta of 0.55.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $98.08 million for the quarter, compared to analysts' expectations of $79.01 million. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The firm's revenue for the quarter was up 63.6% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. As a group, research analysts predict that LTC Properties, Inc. will post 2.77 earnings per share for the current year.

LTC Properties Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 23rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.0%. LTC Properties's dividend payout ratio (DPR) is currently 84.13%.

Insider Activity at LTC Properties

In related news, Director David Gruber bought 3,500 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 47,545 shares of the company's stock, valued at $1,820,973.50. This represents a 7.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.20% of the company's stock.

Institutional Trading of LTC Properties

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of LTC Properties in the second quarter valued at approximately $345,915,000. Alyeska Investment Group L.P. acquired a new position in shares of LTC Properties during the second quarter valued at about $34,396,000. Advisors Capital Management LLC purchased a new stake in LTC Properties in the 2nd quarter valued at about $31,148,000. Wellington Management Group LLP lifted its stake in LTC Properties by 21.1% in the second quarter. Wellington Management Group LLP now owns 728,696 shares of the real estate investment trust's stock valued at $28,018,000 after purchasing an additional 126,884 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of LTC Properties by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 676,970 shares of the real estate investment trust's stock worth $25,157,000 after acquiring an additional 20,864 shares in the last quarter. 69.25% of the stock is owned by institutional investors.

About LTC Properties

LTC Properties, Inc is a real estate investment trust (REIT) that invests in healthcare-related real estate. The company focuses primarily on properties serving older adults, including skilled nursing facilities, assisted living communities, memory care facilities and independent living properties.

LTC Properties generally generates revenue through long-term leases, mortgage loans and other investments involving healthcare operators and property owners. Its investment activities may include property acquisitions, sale-leaseback transactions, joint ventures and financing arrangements.

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