David Boitano Buys 10,000 Shares of LTC Properties (NYSE:LTC) Stock

LTC Properties, Inc. (NYSE:LTC) EVP David Boitano purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average cost of $34.44 per share, for a total transaction of $344,400.00. Following the completion of the purchase, the executive vice president directly owned 25,626 shares of the company’s stock, valued at approximately $882,559.44. This represents a 64.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

LTC Properties Stock Up 1.1%

Shares of NYSE LTC opened at $35.38 on Wednesday. The company has a 50 day simple moving average of $35.27 and a 200 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. LTC Properties, Inc. has a 1 year low of $31.70 and a 1 year high of $37.25. The firm has a market cap of $1.68 billion, a PE ratio of 49.14 and a beta of 0.62.

LTC Properties (NYSE:LTC) 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 analyst estimates of $65.94 million. LTC Properties had a net margin of 14.58% and a return on equity of 3.22%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. On average, research analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be issued a $0.19 dividend. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Monday, March 23rd. LTC Properties’s dividend payout ratio is presently 316.67%.

Hedge Funds Weigh In On LTC Properties

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in shares of LTC Properties by 75.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 300 shares during the period. Harbor Capital Advisors Inc. boosted its stake in LTC Properties by 55.7% during the third quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 352 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in LTC Properties in the second quarter worth $41,000. Aster Capital Management DIFC Ltd bought a new stake in LTC Properties in the third quarter valued at $41,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of LTC Properties by 701.3% during the third quarter. Hantz Financial Services Inc. now owns 1,258 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,101 shares during the period. 69.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on LTC shares. Royal Bank Of Canada upped their price target on LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a report on Monday, December 29th. Cantor Fitzgerald set a $36.00 price target on shares of LTC Properties in a report on Monday. BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price target on the stock in a research report on Wednesday, September 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $43.00 price objective on shares of LTC Properties in a research report on Friday, October 17th. One research analyst has 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.60.

About LTC Properties

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.