LTC Properties (NYSE:LTC) Shares Up 4.8% – Here’s Why

LTC Properties, Inc. (NYSE:LTC) was up 4.8% during mid-day trading on Tuesday . The company traded as high as $37.70 and last traded at $37.66. Approximately 197,601 shares traded hands during trading, a decline of 29% from the average daily volume of 279,752 shares. The stock had previously closed at $35.94.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LTC shares. Wells Fargo & Company restated an “equal weight” rating and set a $37.00 target price (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a report on Friday, September 20th.

LTC Properties Stock Up 5.1 %

The firm has a market cap of $1.64 billion, a PE ratio of 19.19 and a beta of 0.91. The business’s 50 day moving average price is $36.35 and its 200 day moving average price is $35.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The company had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. On average, equities research analysts expect that LTC Properties, Inc. will post 2.7 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.28 annualized dividend and a dividend yield of 6.03%. LTC Properties’s dividend payout ratio is currently 118.75%.

Insider Transactions at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the sale, the director now directly owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director David L. Gruber bought 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $35.75 per share, with a total value of $214,500.00. Following the transaction, the director now directly owns 18,412 shares of the company’s stock, valued at approximately $658,229. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy Triche sold 5,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the director now owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of LTC Properties

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in LTC Properties by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock valued at $217,667,000 after acquiring an additional 91,963 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of LTC Properties by 3,401.1% in the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 654,136 shares during the period. Dimensional Fund Advisors LP raised its holdings in LTC Properties by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock valued at $21,180,000 after acquiring an additional 31,980 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of LTC Properties by 3.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust’s stock worth $9,877,000 after purchasing an additional 9,221 shares during the period. Finally, abrdn plc raised its holdings in shares of LTC Properties by 25.7% during the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock worth $8,761,000 after purchasing an additional 48,869 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Company Profile

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.