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

Key Points

• LTC Properties shares reached a new 52-week high of $44.63, above the prior close of $43.75. Analysts maintain a “Moderate Buy” consensus, with an average price target of $47.40.
• The healthcare REIT reported quarterly EPS of $0.56, exceeding the $0.48 consensus estimate, while revenue rose 63.6% year over year to $98.08 million.
• LTC announced a monthly dividend of $0.19 per share, equivalent to $2.28 annually and a 5.2% yield; institutional investors own 69.25% of the company, and an insider recently increased his holdings.

LTC Properties, Inc. (NYSE:LTC - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday. The company traded as high as $44.63 and last traded at $44.4590, with a volume of 36,369 shares. The stock had previously closed at $43.75.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Huntington began coverage on shares of LTC Properties in a report on Thursday, September 10th. They issued an "outperform" rating and a $47.00 target price on the stock. Weiss Ratings lowered shares of LTC Properties from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, September 24th. Royal Bank Of Canada upped their target price on shares of LTC Properties from $45.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, October 2nd. Wells Fargo & Company increased their target price on shares of LTC Properties from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Monday, October 19th. Finally, Nomura upgraded shares of 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 three have given a Hold rating to the stock. Based on data from MarketBeat, LTC Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.40.

LTC Properties Price Performance

The company has a market cap of $2.38 billion, a price-to-earnings ratio of 16.27 and a beta of 0.55. The company's 50 day moving average price is $42.17 and its 200 day moving average price is $39.95. 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 quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. The business had revenue of $98.08 million for the quarter, compared to analyst estimates of $79.01 million. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The business's revenue was up 63.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 earnings per share. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Equities research analysts forecast that LTC Properties, Inc. will post 2.77 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 23rd will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Wednesday, December 23rd. LTC Properties's payout ratio is presently 84.13%.

Insiders Place Their Bets

In related news, Director David Gruber bought 3,500 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was bought at an average cost of $38.30 per share, with a total value of $134,050.00. Following the completion of the acquisition, the director owned 47,545 shares in the company, valued at approximately $1,820,973.50. This represents a 7.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.20% of the company's stock.

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 LTC. IFP Advisors Inc raised its stake 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 valued at $118,000 after acquiring an additional 245 shares in the last quarter. Farther Finance Advisors LLC raised its stake in LTC Properties by 39.2% during the third quarter. Farther Finance Advisors LLC now owns 1,256 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 354 shares in the last quarter. Nissay Asset Management Corp Japan raised its position in LTC Properties by 5.8% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 7,999 shares of the real estate investment trust's stock valued at $308,000 after purchasing an additional 439 shares during the last quarter. Assetmark Inc. raised its position in shares of LTC Properties by 2.5% during the first quarter. Assetmark Inc. now owns 19,129 shares of the real estate investment trust's stock worth $711,000 after acquiring an additional 462 shares during the last quarter. Finally, Optiver Holding B.V. raised its stake in shares of LTC Properties by 153.1% during the first quarter. Optiver Holding B.V. now owns 772 shares of the real estate investment trust's stock worth $29,000 after buying an additional 467 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company's stock.

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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