David Gruber Acquires 3,500 Shares of LTC Properties (NYSE:LTC) Stock

LTC Properties, Inc. (NYSE:LTC) Director David Gruber purchased 3,500 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $38.30 per share, for a total transaction of $134,050.00. Following the transaction, the director owned 47,545 shares of the company’s stock, valued at $1,820,973.50. The trade was a 7.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

LTC Properties Price Performance

NYSE LTC opened at $40.28 on Friday. LTC Properties, Inc. has a 1 year low of $33.64 and a 1 year high of $43.00. The business’s fifty day moving average is $39.11 and its two-hundred day moving average is $38.53. The stock has a market capitalization of $2.17 billion, a P/E ratio of 14.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 8.60 and a current ratio of 8.60.

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, topping the consensus estimate of $0.48 by $0.08. The business had revenue of $98.08 million during the quarter, compared to analyst estimates of $79.01 million. LTC Properties had a return on equity of 11.42% and a net margin of 38.84%.The company’s revenue was up 63.6% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, research analysts forecast that LTC Properties, Inc. will post 2.77 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a dividend of $0.19 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, September 22nd. LTC Properties’s dividend payout ratio is currently 84.13%.

Institutional Investors Weigh In On LTC Properties

Several hedge funds have recently bought and sold shares of LTC. Jupiter Topco LLC purchased a new position in LTC Properties during the 2nd quarter valued at about $920,000. Hsbc Holdings PLC purchased a new stake in shares of LTC Properties in the second quarter worth approximately $3,599,000. Canada Pension Plan Investment Board purchased a new stake in shares of LTC Properties in the second quarter worth approximately $638,000. Legal & General Group Plc acquired a new stake in shares of LTC Properties during the second quarter worth approximately $11,300,000. Finally, The Manufacturers Life Insurance Company purchased a new position in LTC Properties during the second quarter valued at approximately $919,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LTC has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of LTC Properties in a report on Wednesday, August 5th. Cantor Fitzgerald cut their price target on shares of LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Nomura upgraded shares of LTC Properties to a “neutral” rating in a research report on Friday. Finally, Royal Bank Of Canada raised shares of LTC Properties from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $41.00 to $45.00 in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.40.

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.