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

LTC Properties, Inc. (NYSE:LTC) EVP David Boitano bought 10,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $34.77 per share, with a total value of $347,700.00. Following the acquisition, the executive vice president owned 46,160 shares in the company, valued at approximately $1,604,983.20. This represents a 27.65% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

LTC Properties Trading Up 3.5%

Shares of LTC Properties stock opened at $36.10 on Friday. The company has a fifty day simple moving average of $38.20 and a 200-day simple moving average of $37.25. LTC Properties, Inc. has a 12-month low of $33.64 and a 12-month high of $40.80. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 14.61 and a beta of 0.57.

LTC Properties (NYSE:LTC) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.17. The business had revenue of $94.41 million during the quarter, compared to analysts’ expectations of $72.98 million. LTC Properties had a net margin of 38.99% and a return on equity of 10.87%. The company’s revenue for the quarter was up 94.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 EPS. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. On average, equities analysts forecast that LTC Properties, Inc. will post 2.77 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, June 22nd. This represents a c) dividend on an annualized basis and a yield of 6.3%. LTC Properties’s dividend payout ratio is currently 92.31%.

Institutional Trading of LTC Properties

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in shares of LTC Properties by 37.7% in the first quarter. Royal Bank of Canada now owns 21,344 shares of the real estate investment trust’s stock valued at $757,000 after buying an additional 5,840 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of 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 buying an additional 806 shares in the last quarter. Creative Planning boosted its stake 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. boosted its stake 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. boosted its stake in shares of LTC Properties by 61.6% in the second quarter. Russell Investments Group Ltd. now owns 11,667 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 4,447 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on LTC shares. Wells Fargo & Company increased their price target on shares of LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Royal Bank Of Canada increased their price target on shares of LTC Properties from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research note on Friday, March 20th. Cantor Fitzgerald decreased their price target on shares of LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded shares of LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.60.

LTC Properties Company 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.