David Gruber Buys 500 Shares of LTC Properties (NYSE:LTC) Stock

LTC Properties, Inc. (NYSE:LTC) Director David Gruber bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $38.30 per share, for a total transaction of $19,150.00. Following the completion of the acquisition, the director owned 48,070 shares of the company’s stock, valued at $1,841,081. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

LTC Properties Stock Performance

LTC stock traded up $0.34 during trading on Thursday, hitting $39.03. 368,970 shares of the company traded hands, compared to its average volume of 553,903. LTC Properties, Inc. has a 1 year low of $33.64 and a 1 year high of $43.00. The company has a market cap of $2.10 billion, a PE ratio of 14.40 and a beta of 0.56. The stock’s 50-day simple moving average is $39.03 and its 200 day simple moving average is $38.51. The company has a debt-to-equity ratio of 0.58, a current ratio of 8.60 and a quick ratio of 8.60.

LTC Properties (NYSE:LTC) last posted its earnings results 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. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The firm had revenue of $98.08 million during the quarter, compared to analyst estimates of $79.01 million. During the same period in the previous year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 63.6% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, equities analysts expect that LTC Properties, Inc. will post 2.77 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $0.19 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 22nd. LTC Properties’s dividend payout ratio is presently 84.13%.

Institutional Trading of LTC Properties

Several institutional investors and hedge funds have recently made changes to their positions in LTC. ProShare Advisors LLC lifted its holdings in shares of LTC Properties by 3.4% during the 4th quarter. ProShare Advisors LLC now owns 8,874 shares of the real estate investment trust’s stock worth $305,000 after acquiring an additional 291 shares during the period. Maryland State Retirement & Pension System raised its holdings in LTC Properties by 5.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 7,028 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 336 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in LTC Properties by 33.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,346 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 340 shares in the last quarter. Hantz Financial Services Inc. grew its stake in LTC Properties by 27.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,606 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 348 shares during the period. Finally, Apollon Wealth Management LLC increased its position in shares of LTC Properties by 2.0% in the fourth quarter. Apollon Wealth Management LLC now owns 23,320 shares of the real estate investment trust’s stock worth $802,000 after acquiring an additional 453 shares in the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LTC. Citigroup reaffirmed a “market outperform” rating on shares of LTC Properties in a research note on Wednesday, June 10th. Weiss Ratings restated a “buy (b)” rating on shares of LTC Properties in a report on Wednesday, August 5th. Wells Fargo & Company upped their target price 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. Finally, Cantor Fitzgerald reduced their target price 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. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, LTC Properties currently has an average rating of “Hold” and a consensus 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.