LTC Properties (NYSE:LTC) Releases Earnings Results, Beats Estimates By $0.20 EPS

LTC Properties (NYSE:LTC) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.20, Zacks reports. The company had revenue of $98.08 million for the quarter, compared to analysts’ expectations of $79.01 million. LTC Properties had a net margin of 38.99% and a return on equity of 10.87%. LTC Properties’s quarterly revenue was up 63.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 earnings per share. LTC Properties updated its FY 2026 guidance to 2.760-2.780 EPS.

LTC Properties Trading Up 0.8%

Shares of NYSE LTC traded up $0.30 during midday trading on Wednesday, hitting $38.78. The company’s stock had a trading volume of 457,048 shares, compared to its average volume of 617,526. The business’s 50 day moving average is $38.68 and its two-hundred day moving average is $38.43. LTC Properties has a 12-month low of $33.64 and a 12-month high of $43.00. 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 firm has a market cap of $1.98 billion, a P/E ratio of 15.70 and a beta of 0.56.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a $0.19 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Tuesday, September 22nd. LTC Properties’s dividend payout ratio is presently 92.31%.

Insiders Place Their Bets

In related news, Director David L. Gruber acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was bought at an average price of $38.41 per share, for a total transaction of $153,640.00. Following the acquisition, the director directly owned 44,045 shares of the company’s stock, valued at $1,691,768.45. This represents a 9.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David M. Boitano acquired 10,000 shares of the stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $34.77 per share, with a total value of $347,700.00. Following the completion of the transaction, the executive vice president owned 46,160 shares in the company, valued at $1,604,983.20. This trade represents a 27.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in LTC Properties in the fourth quarter worth approximately $458,000. Invesco Ltd. lifted its position in shares of LTC Properties by 0.4% during the fourth quarter. Invesco Ltd. now owns 217,954 shares of the real estate investment trust’s stock valued at $7,493,000 after buying an additional 850 shares during the last quarter. Caitlin John LLC purchased a new stake in shares of LTC Properties during the fourth quarter valued at about $168,000. EP Wealth Advisors LLC bought a new stake in shares of LTC Properties in the 4th quarter valued at about $201,000. Finally, Voloridge Investment Management LLC boosted its holdings in shares of LTC Properties by 53.3% in the 4th quarter. Voloridge Investment Management LLC now owns 38,065 shares of the real estate investment trust’s stock valued at $1,309,000 after buying an additional 13,238 shares in the last quarter. Institutional investors own 69.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LTC. Wells Fargo & Company lifted their price objective 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. Weiss Ratings raised LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Cantor Fitzgerald lowered their price objective on 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, Citigroup reiterated a “market outperform” rating on shares of LTC Properties in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.60.

About LTC Properties

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.