LTC Properties (NYSE:LTC) Sets New 52-Week High - Should You Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on LTC. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $37.00 price target (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Wedbush reaffirmed an "outperform" rating and issued a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Stock Performance

The business has a fifty day moving average of $36.39 and a 200 day moving average of $35.18. The company has a market cap of $1.70 billion, a P/E ratio of 20.00 and a beta of 0.91. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88.

LTC Properties (NYSE:LTC - Get Free Report) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.05). The firm had revenue of $55.78 million for the quarter, compared to analysts' expectations of $35.45 million. LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The firm's revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, equities analysts predict that LTC Properties, Inc. will post 2.7 EPS for the current year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Thursday, November 21st. LTC Properties's dividend payout ratio (DPR) is presently 118.75%.

Insider Transactions at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the firm's stock in a transaction that occurred on 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 owns 34,522 shares of the company's stock, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Timothy Triche sold 5,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David L. Gruber purchased 6,000 shares of LTC Properties stock in a transaction dated 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 acquisition, the director now directly owns 18,412 shares of the company's stock, valued at approximately $658,229. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of LTC Properties by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust's stock valued at $217,667,000 after purchasing an additional 91,963 shares in the last quarter. Strategic Financial Concepts LLC raised its position in LTC Properties by 3,401.1% in the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust's stock worth $232,000 after buying an additional 654,136 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in LTC Properties by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust's stock valued at $21,180,000 after acquiring an additional 31,980 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of LTC Properties by 3.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust's stock worth $9,877,000 after acquiring an additional 9,221 shares during the period. Finally, abrdn plc grew its stake in shares of LTC Properties by 25.7% in the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust's stock worth $8,761,000 after acquiring an additional 48,869 shares during the period. Institutional investors own 69.25% of the company's stock.

About LTC Properties

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.