Squarepoint Ops LLC Acquires New Stake in LTC Properties, Inc. $LTC

Squarepoint Ops LLC bought a new position in shares of LTC Properties, Inc. (NYSE:LTC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 17,303 shares of the real estate investment trust’s stock, valued at approximately $599,000.

Several other institutional investors also recently bought and sold shares of LTC. State Street Corp increased its stake in LTC Properties by 2.0% during the second quarter. State Street Corp now owns 3,163,763 shares of the real estate investment trust’s stock worth $109,498,000 after purchasing an additional 61,678 shares during the period. Geode Capital Management LLC increased its stake in LTC Properties by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,245,676 shares of the real estate investment trust’s stock worth $43,118,000 after buying an additional 26,631 shares during the period. Advisors Capital Management LLC lifted its holdings in LTC Properties by 51.9% during the 2nd quarter. Advisors Capital Management LLC now owns 723,003 shares of the real estate investment trust’s stock worth $25,023,000 after buying an additional 246,919 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in LTC Properties by 3.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 601,937 shares of the real estate investment trust’s stock valued at $20,833,000 after buying an additional 19,892 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of LTC Properties by 18.3% in the second quarter. Marshall Wace LLP now owns 544,742 shares of the real estate investment trust’s stock worth $18,854,000 after acquiring an additional 84,110 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Stock Down 0.1%

Shares of NYSE LTC opened at $34.05 on Wednesday. The business has a 50-day moving average of $35.40 and a two-hundred day moving average of $35.46. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 47.30 and a beta of 0.62. LTC Properties, Inc. has a 1 year low of $31.70 and a 1 year high of $37.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 8.68 and a quick ratio of 8.68.

LTC Properties (NYSE:LTC) last issued its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $50.05 million for the quarter, compared to analyst estimates of $65.94 million. LTC Properties had a return on equity of 3.22% and a net margin of 14.58%.The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. On average, analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently announced a dec 25 dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 23rd. This represents a dividend yield of 670.0%. LTC Properties’s dividend payout ratio is presently 316.67%.

Insider Activity at LTC Properties

In related news, Director David L. Gruber bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average cost of $35.41 per share, with a total value of $141,640.00. Following the transaction, the director directly owned 28,738 shares of the company’s stock, valued at approximately $1,017,612.58. This represents a 16.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on LTC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a research note on Monday. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price target on shares of LTC Properties in a research report on Friday, October 17th. Cantor Fitzgerald began coverage on LTC Properties in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price objective for the company. BMO Capital Markets raised LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price objective for the company in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company raised their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, LTC Properties currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.