VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 37,070 LTC Properties, Inc. $LTC

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of LTC Properties, Inc. (NYSE:LTC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,070 shares of the real estate investment trust’s stock, valued at approximately $1,425,000.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of LTC Properties in the second quarter worth about $345,915,000. State Street Corp grew its holdings 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 buying an additional 61,678 shares in the last quarter. California State Teachers Retirement System grew its holdings in LTC Properties by 4,763.1% during the 2nd quarter. California State Teachers Retirement System now owns 2,245,057 shares of the real estate investment trust’s stock valued at $86,322,000 after buying an additional 2,198,892 shares in the last quarter. Geode Capital Management LLC grew its holdings in LTC Properties by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,266,992 shares of the real estate investment trust’s stock valued at $43,566,000 after buying an additional 12,547 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in LTC Properties in the 2nd quarter worth approximately $34,396,000. 69.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LTC shares. Royal Bank Of Canada upgraded LTC Properties from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $41.00 to $45.00 in a research report on Friday, August 14th. Weiss Ratings upgraded shares of LTC Properties from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Nomura raised shares of LTC Properties to a “neutral” rating in a research note on Friday, August 14th. Huntington began coverage on shares of LTC Properties in a research report on Thursday. They set an “outperform” rating and a $47.00 price objective for the company. Finally, Citigroup reiterated a “market outperform” rating on shares of LTC Properties in a research report on Wednesday, June 10th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.43.

Insider Activity at LTC Properties

In other news, Director Timothy Triche sold 3,125 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $39.54, for a total value of $123,562.50. Following the sale, the director directly owned 37,786 shares in the company, valued at approximately $1,494,058.44. This represents a 7.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Gruber purchased 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $38.30 per share, with a total value of $134,050.00. Following the completion of the purchase, the director directly owned 47,545 shares in the company, valued at $1,820,973.50. The trade was a 7.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.20% of the company’s stock.

LTC Properties Price Performance

LTC stock opened at $42.32 on Friday. LTC Properties, Inc. has a 12 month low of $33.64 and a 12 month high of $43.16. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $40.58 and a 200 day moving average price of $39.00. The stock has a market cap of $2.28 billion, a PE ratio of 15.62 and a beta of 0.58.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $98.08 million for the quarter, compared to the consensus estimate of $79.01 million. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The firm’s revenue was up 63.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Equities research analysts anticipate that LTC Properties, Inc. will post 2.78 earnings per share for the current year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. LTC Properties’s dividend payout ratio is currently 84.13%.

About LTC Properties

LTC Properties, Inc is a real estate investment trust (REIT) that invests in healthcare-related real estate, with a primary focus on senior housing and skilled nursing properties. The company owns, finances and leases properties to healthcare operators that provide long-term care and related services.

LTC’s portfolio activities include investments in assisted living communities, independent living facilities, memory care properties and skilled nursing centers. In addition to owning and leasing real estate, the company may provide mortgage loans and other financing to operators and participate in investments through joint ventures.

Founded in 1992 and headquartered in Westlake Village, California, LTC Properties serves the United States market.