David Gruber Purchases 4,000 Shares of LTC Properties (NYSE:LTC) Stock

LTC Properties, Inc. (NYSE:LTC) Director David Gruber acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was bought at an average cost of $38.41 per share, for a total transaction of $153,640.00. Following the completion of the purchase, the director owned 44,045 shares of the company’s stock, valued at $1,691,768.45. This trade represents a 9.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

LTC Properties Price Performance

LTC Properties stock opened at $38.51 on Friday. The stock’s 50 day moving average is $38.43 and its 200 day moving average is $37.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 9.20 and a quick ratio of 9.20. The firm has a market cap of $1.97 billion, a P/E ratio of 15.59 and a beta of 0.59. LTC Properties, Inc. has a one year low of $33.64 and a one year high of $40.80.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.17. The company had revenue of $94.41 million for the quarter, compared to analyst estimates of $72.98 million. LTC Properties had a return on equity of 10.87% and a net margin of 38.99%.The firm’s quarterly revenue was up 94.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 earnings per share. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. As a group, research analysts expect that LTC Properties, Inc. will post 2.77 EPS for the current year.

LTC Properties Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LTC. Weiss Ratings upgraded LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Cantor Fitzgerald cut their price target on LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Wells Fargo & Company increased their price target on LTC Properties from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, March 26th. Finally, Royal Bank Of Canada increased their price target on LTC Properties from $38.00 to $41.00 and gave the stock a “sector perform” rating in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.40.

Hedge Funds Weigh In On LTC Properties

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of LTC Properties by 37.0% during the first quarter. Bank of America Corp DE now owns 170,814 shares of the real estate investment trust’s stock worth $6,347,000 after purchasing an additional 46,163 shares during the period. Amundi raised its position in shares of LTC Properties by 13.8% during the first quarter. Amundi now owns 29,701 shares of the real estate investment trust’s stock worth $1,104,000 after purchasing an additional 3,613 shares during the period. California State Teachers Retirement System grew its holdings in LTC Properties by 14.6% during the first quarter. California State Teachers Retirement System now owns 46,165 shares of the real estate investment trust’s stock worth $1,715,000 after buying an additional 5,876 shares in the last quarter. Eversept Partners LP bought a new stake in LTC Properties during the first quarter worth $11,930,000. Finally, The Manufacturers Life Insurance Company raised its position in LTC Properties by 3.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 21,413 shares of the real estate investment trust’s stock valued at $796,000 after buying an additional 616 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

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.