LTC Properties, Inc. $LTC Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 14.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 93,781 shares of the real estate investment trust’s stock after acquiring an additional 12,157 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of LTC Properties worth $3,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. purchased a new stake in shares of LTC Properties during the first quarter valued at approximately $9,358,000. Charles Schwab Investment Management Inc. grew its holdings in LTC Properties by 15.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust’s stock valued at $33,653,000 after purchasing an additional 126,598 shares in the last quarter. Nuveen LLC acquired a new stake in LTC Properties during the 1st quarter valued at $4,487,000. Tocqueville Asset Management L.P. purchased a new stake in LTC Properties during the 1st quarter worth $2,932,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in LTC Properties in the 2nd quarter worth $1,845,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Insider Buying and Selling

In other LTC Properties news, Director David L. Gruber bought 4,000 shares of the stock in a transaction on Thursday, November 6th. The stock was purchased at an average price of $35.41 per share, for a total transaction of $141,640.00. Following the completion of the purchase, the director directly owned 28,738 shares in the company, valued at approximately $1,017,612.58. This trade represents a 16.17% 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 hyperlink. 2.10% of the stock is currently owned by corporate insiders.

LTC Properties Stock Up 0.6%

NYSE:LTC opened at $36.03 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 19.80 and a beta of 0.67. LTC Properties, Inc. has a one year low of $31.70 and a one year high of $39.40. The stock has a 50-day simple moving average of $35.59 and a 200 day simple moving average of $35.47.

LTC Properties (NYSE:LTC) last released its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $50.05 million for the quarter, compared to the consensus estimate of $65.94 million. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.LTC Properties’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. Sell-side analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently disclosed a dec 25 dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd will be issued a $0.19 dividend. This represents a yield of 615.0%. The ex-dividend date of this dividend is Tuesday, December 23rd. LTC Properties’s payout ratio is currently 316.67%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LTC shares. Cantor Fitzgerald started coverage on shares of LTC Properties in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price objective for the company. Royal Bank Of Canada boosted their price target on LTC Properties from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of LTC Properties in a report on Tuesday. BMO Capital Markets upgraded LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price objective on the stock in a report on Wednesday, September 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 target price on shares of LTC Properties in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, LTC Properties presently has an average rating of “Moderate Buy” and an average target price of $38.80.

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.