Key Points
- Director David Gruber bought 4,000 LTC Properties shares at $38.41 each, a purchase worth $153,640 that increased his ownership by nearly 10% to 44,045 shares.
- LTC Properties reported better-than-expected quarterly results, with EPS of $0.69 versus $0.52 expected and revenue of $94.41 million versus $72.98 million expected.
- The company declared a monthly dividend of $0.19 per share, implying an annualized yield of about 5.9%; Wall Street currently has a Moderate Buy consensus with a target price of $40.40.
LTC Properties, Inc. (NYSE:LTC - Get Free Report) Director David Gruber purchased 4,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average price of $38.41 per share, with a total value of $153,640.00. Following the purchase, the director owned 44,045 shares in the company, valued at $1,691,768.45. This trade represents a 9.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
LTC Properties Stock Down 0.3%
Shares of NYSE:LTC opened at $38.51 on Friday. The stock has a market cap of $1.97 billion, a P/E ratio of 15.59 and a beta of 0.59. The firm has a fifty day moving average price of $38.43 and a 200 day moving average price of $37.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 9.20 and a quick ratio of 9.20. LTC Properties, Inc. has a 1-year low of $33.64 and a 1-year high of $40.80.
LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.17. The firm had revenue of $94.41 million during the quarter, compared to analysts' expectations of $72.98 million. LTC Properties had a net margin of 38.99% and a return on equity of 10.87%. LTC Properties's quarterly revenue was up 94.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. Sell-side analysts predict that LTC Properties, Inc. will post 2.77 EPS for the current year.
LTC Properties Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, June 22nd. This represents a c) dividend on an annualized basis and a yield of 5.9%. LTC Properties's dividend payout ratio is currently 92.31%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of LTC Properties from $38.00 to $41.00 and gave the stock a "sector perform" rating in a research report on Friday, March 20th. Cantor Fitzgerald cut their price objective on shares of LTC Properties from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Monday, May 11th. Weiss Ratings upgraded shares of LTC Properties from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company upped their price objective on shares of LTC Properties from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, LTC Properties has a consensus rating of "Moderate Buy" and a consensus target price of $40.40.
Check Out Our Latest Analysis on LTC Properties
Hedge Funds Weigh In On LTC Properties
A number of large investors have recently bought and sold shares of LTC. Royal Bank of Canada raised its position in LTC Properties by 37.7% during the 1st quarter. Royal Bank of Canada now owns 21,344 shares of the real estate investment trust's stock worth $757,000 after buying an additional 5,840 shares during the last quarter. AQR Capital Management LLC raised its position in LTC Properties by 2.8% during the 1st quarter. AQR Capital Management LLC now owns 29,259 shares of the real estate investment trust's stock worth $1,037,000 after buying an additional 806 shares during the last quarter. Creative Planning raised its position in LTC Properties by 40.6% during the 2nd quarter. Creative Planning now owns 11,198 shares of the real estate investment trust's stock worth $388,000 after buying an additional 3,235 shares during the last quarter. American Century Companies Inc. raised its position in LTC Properties by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 18,865 shares of the real estate investment trust's stock worth $653,000 after buying an additional 1,294 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of LTC Properties by 61.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,667 shares of the real estate investment trust's stock valued at $404,000 after purchasing an additional 4,447 shares in the last quarter. Hedge funds and other 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.
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