LTC Properties (NYSE:LTC) Reaches New 1-Year High – Here’s Why

LTC Properties, Inc. (NYSE:LTC) hit a new 52-week high during trading on Wednesday . The stock traded as high as $38.32 and last traded at $38.29, with a volume of 25162 shares. The stock had previously closed at $38.08.

Analysts Set New Price Targets

Several equities research analysts recently commented on LTC shares. Wedbush reissued an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

LTC Properties Price Performance

The firm has a market cap of $1.67 billion, a PE ratio of 19.83 and a beta of 0.91. The stock’s fifty day moving average price is $36.39 and its 200-day moving average price is $35.18. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The business had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. During the same period in the previous year, the company earned $0.65 EPS. LTC Properties’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts expect that LTC Properties, Inc. will post 2.7 EPS for the current fiscal year.

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be issued a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Thursday, November 21st. LTC Properties’s dividend payout ratio is currently 118.75%.

Insider Activity at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the sale, the director now owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director David L. Gruber bought 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $35.75 per share, with a total value of $214,500.00. Following the completion of the transaction, the director now directly owns 18,412 shares of the company’s stock, valued at $658,229. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares in the company, valued at $1,258,326.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LTC. Harbor Capital Advisors Inc. acquired a new position in LTC Properties in the third quarter valued at about $36,000. GAMMA Investing LLC lifted its position in LTC Properties by 91.4% in the second quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 687 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in LTC Properties by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 437 shares during the last quarter. Community Trust & Investment Co. acquired a new position in LTC Properties in the third quarter valued at about $202,000. Finally, Walleye Trading LLC acquired a new position in LTC Properties in the first quarter valued at about $209,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Company Profile

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.