LTC Properties (NYSE:LTC) Shares Up 4.8% - Time to Buy?

LTC Properties, Inc. (NYSE:LTC - Get Free Report) rose 4.8% during trading on Tuesday . The company traded as high as $37.70 and last traded at $37.66. Approximately 197,601 shares were traded during trading, a decline of 29% from the average daily volume of 279,752 shares. The stock had previously closed at $35.94.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LTC. Wells Fargo & Company reiterated an "equal weight" rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush reiterated an "outperform" rating and issued a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th.

LTC Properties Stock Up 5.9 %

The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. The firm has a 50-day simple moving average of $36.35 and a two-hundred day simple moving average of $35.13. The stock has a market cap of $1.66 billion, a P/E ratio of 19.19 and a beta of 0.91.

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

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 5.99%. The ex-dividend date is Thursday, November 21st. LTC Properties's payout ratio is presently 118.75%.

Insider Activity

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

Hedge Funds Weigh In On LTC Properties

A number of large investors have recently modified their holdings of LTC. Van ECK Associates Corp lifted its holdings in shares of LTC Properties by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 7,382 shares of the real estate investment trust's stock worth $265,000 after acquiring an additional 811 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of LTC Properties during the third quarter valued at about $36,000. New York State Teachers Retirement System increased its holdings in shares of LTC Properties by 0.5% in the third quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust's stock worth $2,801,000 after buying an additional 375 shares during the period. abrdn plc lifted its stake in shares of LTC Properties by 25.7% in the 3rd quarter. abrdn plc now owns 238,793 shares of the real estate investment trust's stock valued at $8,761,000 after acquiring an additional 48,869 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in LTC Properties by 35.0% during the 3rd 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 acquiring an additional 437 shares during the period. 69.25% of the stock is currently owned by institutional investors.

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.