Shares of LTC Properties Inc. (NYSE:LTC) have received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $51.75.
A number of research analysts have recently commented on LTC shares. Royal Bank Of Canada downgraded LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 target price for the company. in a research report on Friday, June 17th. Canaccord Genuity increased their target price on LTC Properties from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Cantor Fitzgerald started coverage on LTC Properties in a research report on Thursday, June 23rd. They set a “buy” rating for the company. Zacks Investment Research downgraded LTC Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Mizuho downgraded LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a research report on Monday, July 18th.
In related news, Director Timothy Triche sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $52.13, for a total value of $104,260.00. Following the completion of the sale, the director now directly owns 36,188 shares in the company, valued at $1,886,480.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of LTC. BlackRock Japan Co. Ltd increased its stake in shares of LTC Properties by 1.9% in the second quarter. BlackRock Japan Co. Ltd now owns 2,017 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 37 shares in the last quarter. Societe Generale acquired a new stake in LTC Properties during the second quarter worth $131,000. Tower Research Capital LLC TRC raised its stake in LTC Properties by 1,009.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,773 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 2,523 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in LTC Properties by 469.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,989 shares of the real estate investment trust’s stock worth $154,000 after buying an additional 2,464 shares during the last quarter. Finally, Invictus RG acquired a new stake in LTC Properties during the second quarter worth $154,000. Institutional investors own 82.89% of the company’s stock.
LTC Properties (NYSE:LTC) opened at 51.99 on Wednesday. LTC Properties has a 1-year low of $40.02 and a 1-year high of $54.20. The firm’s 50 day moving average is $52.01 and its 200 day moving average is $49.50. The stock has a market capitalization of $2.04 billion, a P/E ratio of 24.63 and a beta of 0.36.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. LTC Properties had a return on equity of 11.83% and a net margin of 52.62%. The business earned $40 million during the quarter, compared to the consensus estimate of $33.66 million. During the same period in the prior year, the company posted $0.67 EPS. On average, equities research analysts anticipate that LTC Properties will post $3.06 earnings per share for the current year.
The business also recently declared a monthly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 22nd were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, September 20th. This represents a $2.16 dividend on an annualized basis and a yield of 4.15%. LTC Properties’s dividend payout ratio is presently 102.37%.
About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
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