LTC Properties (NYSE:LTC) Sets New 1-Year High – Time to Buy?

LTC Properties, Inc. (NYSE:LTC)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $43.56 and last traded at $43.4950, with a volume of 969035 shares changing hands. The stock had previously closed at $42.64.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LTC. Deutsche Bank Aktiengesellschaft upgraded shares of LTC Properties from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Thursday, August 27th. Royal Bank Of Canada upgraded shares of LTC Properties from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $41.00 to $45.00 in a research report on Friday, August 14th. Weiss Ratings raised shares of LTC Properties from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Huntington began coverage on shares of LTC Properties in a research report on Thursday, September 10th. They set an “outperform” rating and a $47.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of LTC Properties from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 1st. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, LTC Properties has an average rating of “Moderate Buy” and an average price target of $44.43.

LTC Properties Stock Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 8.60 and a quick ratio of 8.60. The stock has a 50-day simple moving average of $40.91 and a 200-day simple moving average of $39.10. The stock has a market cap of $2.34 billion, a P/E ratio of 16.04 and a beta of 0.58.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $98.08 million for the quarter, compared to the consensus estimate of $79.01 million. LTC Properties had a return on equity of 11.42% and a net margin of 38.84%.LTC Properties’s revenue for the quarter was up 63.6% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Research analysts forecast that LTC Properties, Inc. will post 2.78 earnings per share for the current year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a dividend of $0.19 per share. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, September 22nd. LTC Properties’s dividend payout ratio (DPR) is currently 84.13%.

Insider Activity

In other LTC Properties news, Director Timothy Triche sold 3,125 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was 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 in the company, valued at approximately $1,494,058.44. This represents a 7.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Gruber acquired 3,500 shares of LTC Properties stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $38.30 per share, with a total value of $134,050.00. Following the transaction, the director owned 47,545 shares in the company, valued at approximately $1,820,973.50. This trade represents a 7.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LTC. BlackRock Inc. acquired a new stake in LTC Properties in the second quarter worth $345,915,000. Alyeska Investment Group L.P. acquired a new position in shares of LTC Properties during the second quarter valued at about $34,396,000. Advisors Capital Management LLC bought a new position in shares of LTC Properties during the 2nd quarter worth about $31,148,000. Wellington Management Group LLP boosted its position in shares of LTC Properties by 21.1% during the 2nd quarter. Wellington Management Group LLP now owns 728,696 shares of the real estate investment trust’s stock worth $28,018,000 after purchasing an additional 126,884 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of LTC Properties by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 676,970 shares of the real estate investment trust’s stock valued at $25,157,000 after buying an additional 20,864 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust (REIT) that invests in healthcare-related real estate, with a primary focus on senior housing and skilled nursing properties. The company owns, finances and leases properties to healthcare operators that provide long-term care and related services.

LTC’s portfolio activities include investments in assisted living communities, independent living facilities, memory care properties and skilled nursing centers. In addition to owning and leasing real estate, the company may provide mortgage loans and other financing to operators and participate in investments through joint ventures.

Founded in 1992 and headquartered in Westlake Village, California, LTC Properties serves the United States market.