State of Wyoming Reduces Stock Holdings in LTC Properties, Inc. $LTC

State of Wyoming lowered its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 43.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,642 shares of the real estate investment trust’s stock after selling 1,277 shares during the quarter. State of Wyoming’s holdings in LTC Properties were worth $58,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Keudell Morrison Wealth Management raised its holdings in shares of LTC Properties by 0.9% in the first quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust’s stock valued at $1,301,000 after acquiring an additional 328 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of LTC Properties by 2.9% during the first quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 360 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of LTC Properties by 4.1% during the fourth quarter. BNP Paribas Financial Markets now owns 9,906 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 392 shares during the period. Denali Advisors LLC boosted its stake in shares of LTC Properties by 1.6% in the first quarter. Denali Advisors LLC now owns 32,622 shares of the real estate investment trust’s stock worth $1,156,000 after buying an additional 522 shares during the last quarter. Finally, Groupe la Francaise boosted its stake in shares of LTC Properties by 3.8% in the first quarter. Groupe la Francaise now owns 16,219 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Insider Activity at LTC Properties

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

Analysts Set New Price Targets

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

LTC Properties Stock Down 0.2%

LTC Properties stock opened at $36.53 on Wednesday. LTC Properties, Inc. has a 1-year low of $31.70 and a 1-year high of $39.89. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06. The stock has a market cap of $1.68 billion, a PE ratio of 20.07 and a beta of 0.69. The stock’s fifty day moving average is $35.57 and its two-hundred day moving average is $35.32.

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

LTC Properties Dividend Announcement

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

LTC Properties 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.