Key Points
- EVP David Boitano purchased 10,000 shares of LTC Properties on Dec. 31 at an average price of $34.44 for $344,400, boosting his direct holdings to 25,626 shares — a 64% increase (SEC Form 4 filed).
- The company declared a monthly dividend of $0.19 per share payable Mar. 31 (record date Mar. 23), implying a 6.5% yield and a very high payout ratio of 316.67%.
- Analysts have a consensus rating of "Moderate Buy" with a $38.60 target; LTC trades in a one-year range of $31.70–$37.25 and has a market cap of about $1.67 billion and a PE of 48.67.
LTC Properties, Inc. (NYSE:LTC - Get Free Report) EVP David Boitano purchased 10,000 shares of LTC Properties stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average price of $34.44 per share, for a total transaction of $344,400.00. Following the transaction, the executive vice president directly owned 25,626 shares of the company's stock, valued at $882,559.44. This trade represents a 64.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
LTC Properties Stock Performance
Shares of LTC opened at $35.04 on Tuesday. The company has a 50-day simple moving average of $35.27 and a two-hundred day simple moving average of $35.42. The company has a debt-to-equity ratio of 0.90, a current ratio of 8.68 and a quick ratio of 8.68. The firm has a market capitalization of $1.67 billion, a PE ratio of 48.67 and a beta of 0.62. LTC Properties, Inc. has a one year low of $31.70 and a one year high of $37.25.
LTC Properties (NYSE:LTC - Get Free Report) last posted its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $50.05 million for the quarter, compared to the consensus estimate of $65.94 million. LTC Properties had a return on equity of 3.22% and a net margin of 14.58%.The business's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. On average, analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.
LTC Properties Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) annualized dividend and a yield of 6.5%. LTC Properties's dividend payout ratio (DPR) is currently 316.67%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. JMP Securities reiterated a "market outperform" rating and issued a $43.00 price target on shares of LTC Properties in a research note on Friday, October 17th. Cantor Fitzgerald set a $36.00 price objective on shares of LTC Properties in a report on Monday. Royal Bank Of Canada raised their target price on shares of LTC Properties from $37.00 to $38.00 and gave the company a "sector perform" rating in a research note on Monday, November 10th. BMO Capital Markets upgraded shares of LTC Properties from an "underperform" rating to a "market perform" rating and set a $39.00 target price for the company in a report on Wednesday, September 24th. Finally, Wells Fargo & Company upped their price target on LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.60.
Get Our Latest Stock Analysis on LTC
Hedge Funds Weigh In On LTC Properties
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Capital Management LLC raised its holdings in LTC Properties by 51.9% in the 2nd quarter. Advisors Capital Management LLC now owns 723,003 shares of the real estate investment trust's stock worth $25,023,000 after purchasing an additional 246,919 shares during the period. Fox Run Management L.L.C. bought a new position in shares of LTC Properties in the second quarter worth about $856,000. Squarepoint Ops LLC bought a new position in shares of LTC Properties in the second quarter worth about $599,000. Ballentine Partners LLC purchased a new position in shares of LTC Properties during the 2nd quarter valued at about $697,000. Finally, Strs Ohio bought a new position in shares of LTC Properties during the 1st quarter valued at approximately $298,000. Institutional investors own 69.25% of the company's stock.
About LTC Properties
(
Get Free Report)
LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.
Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.
Further Reading
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