LTC Properties (NYSE:LTC) Hits New 12-Month High – Should You Buy?

Shares of LTC Properties, Inc. (NYSE:LTC) hit a new 52-week high during trading on Thursday . The stock traded as high as $40.98 and last traded at $40.7950, with a volume of 42869 shares. The stock had previously closed at $40.06.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LTC shares. Weiss Ratings upgraded LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Wells Fargo & Company increased their target price on LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Cantor Fitzgerald dropped their price target on LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Citigroup restated a “market outperform” rating on shares of LTC Properties in a research note on Wednesday, June 10th. Finally, Royal Bank Of Canada upped their price objective on LTC Properties from $38.00 to $41.00 and gave the company a “sector perform” rating in a report on Friday, March 20th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.60.

LTC Properties Stock Up 2.8%

The firm’s 50 day simple moving average is $37.92 and its two-hundred day simple moving average is $37.80. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 16.68 and a beta of 0.57. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.73.

LTC Properties (NYSE:LTC) last issued its quarterly 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. LTC Properties had a return on equity of 10.87% and a net margin of 38.99%.The business had revenue of $94.41 million during the quarter, compared to analysts’ expectations of $72.98 million. During the same period in the previous year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter 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. On average, equities analysts forecast that LTC Properties, Inc. will post 2.77 EPS for the current year.

LTC Properties Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a $0.19 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. LTC Properties’s dividend payout ratio (DPR) is presently 92.31%.

Insider Buying and Selling

In other news, Director David L. Gruber purchased 4,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average price of $38.41 per share, with a total value of $153,640.00. Following the acquisition, the director owned 44,045 shares in the company, valued at approximately $1,691,768.45. The trade was a 9.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy Triche sold 3,125 shares of LTC Properties stock in a transaction that occurred 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 completion of the transaction, the director directly owned 37,786 shares in the company, valued at $1,494,058.44. This trade represents a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of LTC Properties

Several institutional investors and hedge funds have recently modified their holdings of LTC. Royal Bank of Canada grew its position in 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 acquiring an additional 5,840 shares during the last quarter. AQR Capital Management LLC increased its position in LTC Properties by 2.8% during the 1st quarter. AQR Capital Management LLC now owns 29,259 shares of the real estate investment trust’s stock worth $1,037,000 after purchasing an additional 806 shares in the last quarter. Creative Planning lifted its stake in LTC Properties by 40.6% in the 2nd quarter. Creative Planning now owns 11,198 shares of the real estate investment trust’s stock valued at $388,000 after purchasing an additional 3,235 shares during the last quarter. American Century Companies Inc. boosted its position in 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. grew its stake in shares of LTC Properties by 61.6% during the second 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. 69.25% of the stock is currently owned by institutional investors.

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.