Analysts Set LTC Properties, Inc. (NYSE:LTC) Price Target at $38.60

Shares of LTC Properties, Inc. (NYSE:LTC) have received an average rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $38.60.

Several analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price target on shares of LTC Properties in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of LTC Properties in a research note on Monday, December 29th. Wells Fargo & Company lifted their target price on LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Finally, Cantor Fitzgerald set a $36.00 target price on LTC Properties in a report on Monday, January 5th.

Insider Activity at LTC Properties

In other news, EVP David M. Boitano acquired 10,000 shares of the stock in a transaction on Wednesday, December 31st. The shares were purchased at an average cost of $34.44 per share, for a total transaction of $344,400.00. Following the transaction, the executive vice president owned 25,626 shares in the company, valued at approximately $882,559.44. This trade represents a 64.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Gruber bought 4,000 shares of LTC Properties stock in a transaction dated Thursday, November 6th. The stock was acquired at an average price of $35.41 per share, with a total value of $141,640.00. Following the acquisition, the director directly owned 28,738 shares of the company’s stock, valued at approximately $1,017,612.58. This represents a 16.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 15,000 shares of company stock worth $521,980. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LTC. Royal Bank of Canada boosted its position in LTC Properties by 37.7% during the 1st quarter. Royal Bank of Canada now owns 21,344 shares of the real estate investment trust’s stock worth $757,000 after acquiring an additional 5,840 shares during the period. AQR Capital Management LLC lifted its position 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 worth $1,037,000 after purchasing an additional 806 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of LTC Properties by 6.1% during the second quarter. State of Alaska Department of Revenue now owns 49,385 shares of the real estate investment trust’s stock worth $1,708,000 after purchasing an additional 2,849 shares during the period. Venture Visionary Partners LLC boosted its holdings in shares of LTC Properties by 14.3% during the second quarter. Venture Visionary Partners LLC now owns 25,349 shares of the real estate investment trust’s stock worth $877,000 after purchasing an additional 3,179 shares during the period. Finally, 111 Capital purchased a new position in LTC Properties during the second quarter valued at approximately $263,000. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Trading Up 2.6%

Shares of LTC stock opened at $36.18 on Tuesday. The stock has a fifty day moving average of $35.46 and a two-hundred day moving average of $35.56. The firm has a market capitalization of $1.72 billion, a PE ratio of 50.25 and a beta of 0.62. The company has a debt-to-equity ratio of 0.90, a quick ratio of 8.68 and a current ratio of 8.68. LTC Properties has a 1 year low of $31.70 and a 1 year high of $37.95.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. LTC Properties had a net margin of 14.58% and a return on equity of 3.22%. The company had revenue of $50.05 million for the quarter, compared to the consensus estimate of $65.94 million. During the same period in the previous year, the firm earned $0.78 EPS. LTC Properties’s revenue was up 24.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. As a group, research analysts expect that LTC Properties will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be issued a $0.19 dividend. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Monday, March 23rd. LTC Properties’s dividend payout ratio (DPR) is presently 316.67%.

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.