BlackRock Inc. Takes $345.92 Million Position in LTC Properties, Inc. $LTC

BlackRock Inc. purchased a new position in shares of LTC Properties, Inc. (NYSE:LTC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 8,996,488 shares of the real estate investment trust’s stock, valued at approximately $345,915,000. BlackRock Inc. owned about 0.18% of LTC Properties at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of LTC. Royal Bank of Canada raised its holdings in LTC Properties by 37.7% during the first quarter. Royal Bank of Canada now owns 21,344 shares of the real estate investment trust’s stock worth $757,000 after purchasing an additional 5,840 shares during the last quarter. AQR Capital Management LLC grew its holdings in LTC Properties by 2.8% in the first quarter. AQR Capital Management LLC now owns 29,259 shares of the real estate investment trust’s stock valued at $1,037,000 after purchasing an additional 806 shares during the last quarter. Creative Planning increased its position in shares of LTC Properties by 40.6% in the second quarter. Creative Planning now owns 11,198 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 3,235 shares in the last quarter. American Century Companies Inc. increased its position in shares of LTC Properties by 7.4% in the second quarter. American Century Companies Inc. now owns 18,865 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 1,294 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of LTC Properties by 61.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,667 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 4,447 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano purchased 10,000 shares of the stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $34.77 per share, for a total transaction of $347,700.00. Following the acquisition, the executive vice president directly owned 46,160 shares of the company’s stock, valued at $1,604,983.20. This represents a 27.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy Triche sold 3,125 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $39.54, for a total transaction of $123,562.50. Following the transaction, the director directly owned 37,786 shares of the company’s stock, valued at approximately $1,494,058.44. This represents a 7.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 14,000 shares of company stock worth $500,900. 2.20% of the stock is owned by company insiders.

LTC Properties Stock Up 0.7%

LTC stock opened at $40.69 on Wednesday. The stock has a market capitalization of $2.19 billion, a P/E ratio of 15.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 8.60 and a current ratio of 8.60. LTC Properties, Inc. has a one year low of $33.64 and a one year high of $43.00. The company has a 50 day moving average price of $39.64 and a two-hundred day moving average price of $38.75.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results 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. LTC Properties had a return on equity of 11.42% and a net margin of 38.84%.The company had revenue of $98.08 million for the quarter, compared to analyst estimates of $79.01 million. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 63.6% compared to the same quarter last year. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. As a group, sell-side analysts expect that LTC Properties, Inc. will post 2.77 EPS for the current year.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be paid a $0.19 dividend. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date is Tuesday, September 22nd. LTC Properties’s dividend payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada raised shares of LTC Properties from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $41.00 to $45.00 in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of LTC Properties in a report on Wednesday, August 5th. Nomura upgraded shares of LTC Properties to a “neutral” rating in a research report on Friday, August 14th. Citigroup reissued a “market outperform” rating on shares of LTC Properties in a research note on Wednesday, June 10th. Finally, Cantor Fitzgerald cut their price objective on LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.40.

LTC Properties Profile

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.