Northern Trust Corp Trims Stock Holdings in LTC Properties, Inc. $LTC

Northern Trust Corp trimmed its position in LTC Properties, Inc. (NYSE:LTC) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 596,954 shares of the real estate investment trust’s stock after selling 2,619 shares during the period. Northern Trust Corp owned 1.30% of LTC Properties worth $21,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in LTC Properties in the fourth quarter worth $27,000. KBC Group NV bought a new stake in LTC Properties in the first quarter worth $33,000. Rossby Financial LCC bought a new stake in LTC Properties in the first quarter worth $58,000. Elite Financial Inc. bought a new stake in LTC Properties in the first quarter worth $69,000. Finally, State of Wyoming boosted its holdings in LTC Properties by 91.7% in the fourth quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 1,396 shares in the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wedbush raised LTC Properties to a “strong-buy” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada boosted their target price on LTC Properties from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. Wells Fargo & Company boosted their target price on LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 27th. Finally, JMP Securities boosted their target price on LTC Properties from $40.00 to $43.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $39.25.

LTC Properties Trading Up 0.1%

Shares of NYSE:LTC opened at $36.50 on Tuesday. The company has a market cap of $1.68 billion, a P/E ratio of 20.06 and a beta of 0.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06. LTC Properties, Inc. has a 1 year low of $31.70 and a 1 year high of $39.89. The stock’s fifty day moving average price is $35.37 and its 200-day moving average price is $35.25.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $30.18 million for the quarter, compared to the consensus estimate of $49.97 million. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Sell-side analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 21st were given a dividend of $0.19 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Thursday, August 21st. LTC Properties’s dividend payout ratio is 125.27%.

Insider Buying and Selling

In other news, EVP David M. Boitano acquired 6,000 shares of LTC Properties stock in a transaction that occurred on Friday, June 27th. The stock was bought at an average price of $34.71 per share, for a total transaction of $208,260.00. Following the completion of the transaction, the executive vice president owned 15,626 shares in the company, valued at $542,378.46. The trade was a 62.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.