Principal Financial Group Inc. Has $8.60 Million Stake in LTC Properties, Inc. $LTC

Principal Financial Group Inc. reduced its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 19.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 231,387 shares of the real estate investment trust’s stock after selling 56,219 shares during the period. Principal Financial Group Inc. owned 0.47% of LTC Properties worth $8,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LTC. Vanguard Group Inc. boosted its holdings in shares of LTC Properties by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 7,238,012 shares of the real estate investment trust’s stock worth $248,843,000 after buying an additional 125,889 shares in the last quarter. State Street Corp lifted its stake in LTC Properties by 2.0% during the 2nd quarter. State Street Corp now owns 3,163,763 shares of the real estate investment trust’s stock valued at $109,498,000 after acquiring an additional 61,678 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of LTC Properties by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,266,992 shares of the real estate investment trust’s stock worth $43,566,000 after acquiring an additional 12,547 shares in the last quarter. Advisors Capital Management LLC raised its holdings in shares of LTC Properties by 1.7% in the fourth quarter. Advisors Capital Management LLC now owns 763,536 shares of the real estate investment trust’s stock valued at $26,250,000 after purchasing an additional 12,847 shares during the last quarter. Finally, Nuveen LLC lifted its position in shares of LTC Properties by 5.9% during the fourth quarter. Nuveen LLC now owns 682,198 shares of the real estate investment trust’s stock valued at $23,454,000 after purchasing an additional 38,202 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings raised shares of LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Cantor Fitzgerald cut their price objective on LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of LTC Properties in a report on Wednesday, June 10th. Finally, 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 report on Monday, June 1st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.60.

Insiders Place Their Bets

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

LTC Properties Price Performance

LTC Properties stock opened at $42.18 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 9.20 and a quick ratio of 9.20. LTC Properties, Inc. has a one year low of $33.64 and a one year high of $43.00. The firm has a market capitalization of $2.16 billion, a P/E ratio of 17.08 and a beta of 0.57. The business has a fifty day moving average price of $38.41 and a 200-day moving average price of $38.17.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.17. The company had revenue of $94.41 million during the quarter, compared to analyst estimates of $72.98 million. LTC Properties had a net margin of 38.99% and a return on equity of 10.87%. LTC Properties’s revenue was up 94.7% compared to the same quarter last year. During the same period last year, the business earned $0.65 earnings per share. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. As a group, equities research analysts forecast that LTC Properties, Inc. will post 2.8 EPS for the current year.

LTC Properties Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a $0.19 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a yield of 5.4%. LTC Properties’s payout ratio is presently 92.31%.

LTC Properties 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.