LTC Properties (NYSE:LTC) Sets New 52-Week High – Still a Buy?

LTC Properties, Inc. (NYSE:LTC) reached a new 52-week high during trading on Monday. The stock traded as high as $44.63 and last traded at $44.4590, with a volume of 36,369 shares changing hands. The stock had previously closed at $43.75.

Analysts Set New Price Targets

Several research analysts recently commented on LTC shares. Huntington began coverage on shares of LTC Properties in a report on Thursday, September 10th. They issued an “outperform” rating and a $47.00 price objective for the company. Nomura upgraded shares of LTC Properties to a “neutral” rating in a research note on Friday, August 14th. Deutsche Bank Aktiengesellschaft raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Thursday, August 27th. Wells Fargo & Company increased their target price on LTC Properties from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Monday, October 19th. Finally, Weiss Ratings lowered LTC Properties from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, September 24th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, LTC Properties currently has a consensus rating of “Moderate Buy” and an average price target of $47.40.

LTC Properties Trading Down 2.3%

The business’s fifty day moving average price is $42.27 and its 200-day moving average price is $39.36. The company has a market capitalization of $2.31 billion, a P/E ratio of 15.84 and a beta of 0.55.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $98.08 million for the quarter, compared to the consensus estimate of $79.01 million. The company’s revenue for the quarter was up 63.6% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. As a group, equities research analysts forecast that LTC Properties, Inc. will post 2.77 EPS for the current year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 23rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $2.28 annualized dividend and a dividend yield of 5.3%. LTC Properties’s dividend payout ratio (DPR) is 84.13%.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director David Gruber bought 3,500 shares of LTC Properties stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average price of $38.30 per share, with a total value of $134,050.00. Following the acquisition, the director owned 47,545 shares in the company, valued at approximately $1,820,973.50. This trade represents a 7.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Trading of LTC Properties

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of LTC Properties in the 2nd quarter valued at about $345,915,000. Alyeska Investment Group L.P. bought a new position in shares of LTC Properties in the second quarter worth approximately $34,396,000. Advisors Capital Management LLC purchased a new position in shares of LTC Properties in the second quarter worth $31,148,000. Bank of New York Mellon Corp purchased a new position in shares of LTC Properties in the second quarter worth $20,008,000. Finally, Eversept Partners LP bought a new stake in LTC Properties during the 1st quarter valued at $11,930,000. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

About LTC Properties

LTC Properties, Inc is a real estate investment trust (REIT) that invests in healthcare-related real estate. The company focuses primarily on properties serving older adults, including skilled nursing facilities, assisted living communities, memory care facilities and independent living properties.

LTC Properties generally generates revenue through long-term leases, mortgage loans and other investments involving healthcare operators and property owners. Its investment activities may include property acquisitions, sale-leaseback transactions, joint ventures and financing arrangements.