Analysts Set LTC Properties, Inc. (NYSE:LTC) Target Price at $40.40

LTC Properties, Inc. (NYSE:LTC) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $40.60.

A number of research firms have recently weighed in on LTC. Royal Bank Of Canada boosted 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. Weiss Ratings upgraded LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Wells Fargo & Company upped their target price on LTC Properties from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Cantor Fitzgerald dropped their target price 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.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director David L. Gruber bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David M. Boitano bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average price of $34.77 per share, with a total value of $347,700.00. Following the completion of the purchase, the executive vice president directly owned 46,160 shares of the company’s stock, valued at approximately $1,604,983.20. The trade was a 27.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

Several institutional investors have recently added to or reduced their stakes in LTC. Keybank National Association OH purchased a new stake in LTC Properties during the third quarter valued at about $7,931,000. Versor Investments LP purchased a new stake in LTC Properties during the third quarter valued at about $995,000. Jupiter Asset Management Ltd. purchased a new stake in LTC Properties during the third quarter valued at about $6,797,000. American Century Companies Inc. grew its position in LTC Properties by 4,205.5% during the third quarter. American Century Companies Inc. now owns 812,235 shares of the real estate investment trust’s stock valued at $29,939,000 after acquiring an additional 793,370 shares during the period. Finally, Advisors Capital Management LLC grew its position in LTC Properties by 3.8% during the third quarter. Advisors Capital Management LLC now owns 750,689 shares of the real estate investment trust’s stock valued at $27,670,000 after acquiring an additional 27,686 shares during the period. 69.25% of the stock is currently owned by institutional investors and hedge funds.

LTC Properties Stock Performance

NYSE LTC opened at $36.10 on Monday. LTC Properties has a fifty-two week low of $33.64 and a fifty-two week high of $40.80. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 14.61 and a beta of 0.57. The business has a fifty day moving average of $38.20 and a 200-day moving average of $37.26. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.73.

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

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a $0.19 dividend. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date is Monday, June 22nd. LTC Properties’s dividend payout ratio is presently 92.31%.

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.