Brokerages Set LTC Properties, Inc. (NYSE:LTC) Price Target at $40.60

Shares of LTC Properties, Inc. (NYSE:LTC) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $40.60.

A number of brokerages have commented on LTC. Wells Fargo & Company upped their price target on LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Cantor Fitzgerald lowered their price objective on LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Weiss Ratings upgraded LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Finally, Citigroup reissued a “market outperform” rating on shares of LTC Properties in a report on Wednesday, June 10th.

Insider Activity

In related news, Director Timothy Triche sold 3,125 shares of LTC Properties stock in a transaction on 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 owned 37,786 shares in the company, valued at approximately $1,494,058.44. The trade was a 7.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David L. Gruber bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $38.41 per share, with a total value of $153,640.00. Following the acquisition, the director directly owned 44,045 shares in the company, valued at $1,691,768.45. This trade represents a 9.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

Several large investors have recently made changes to their positions in LTC. Vanguard Group Inc. grew its position in shares of LTC Properties by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 7,238,012 shares of the real estate investment trust’s stock worth $248,843,000 after purchasing an additional 125,889 shares in the last quarter. State Street Corp lifted its holdings in LTC Properties by 2.0% in the 2nd quarter. State Street Corp now owns 3,163,763 shares of the real estate investment trust’s stock worth $109,498,000 after purchasing an additional 61,678 shares in the last quarter. Geode Capital Management LLC lifted its holdings in LTC Properties by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,266,992 shares of the real estate investment trust’s stock worth $43,566,000 after purchasing an additional 12,547 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in LTC Properties by 1.7% in the 4th quarter. Advisors Capital Management LLC now owns 763,536 shares of the real estate investment trust’s stock worth $26,250,000 after purchasing an additional 12,847 shares in the last quarter. Finally, Nuveen LLC boosted its stake in LTC Properties by 5.9% in the 4th quarter. Nuveen LLC now owns 682,198 shares of the real estate investment trust’s stock worth $23,454,000 after purchasing an additional 38,202 shares during the period. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Trading Down 0.6%

NYSE:LTC opened at $41.94 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 9.20 and a quick ratio of 9.20. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 16.98 and a beta of 0.57. LTC Properties has a one year low of $33.64 and a one year high of $43.00. The business has a fifty day moving average price of $38.48 and a 200-day moving average price of $38.21.

LTC Properties (NYSE:LTC) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.17. LTC Properties had a return on equity of 10.87% and a net margin of 38.99%.The company had revenue of $94.41 million for the quarter, compared to the consensus estimate of $72.98 million. During the same period in the previous year, the business earned $0.65 earnings per share. LTC Properties’s quarterly revenue was up 94.7% compared to the same quarter last year. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. Sell-side analysts forecast that LTC Properties will post 2.8 EPS for the current year.

LTC Properties Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.19 per share. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Tuesday, September 22nd. LTC Properties’s dividend payout ratio (DPR) is presently 92.31%.

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.