According to Zacks, “LTC Properties, Inc., a health care real estate investment trust, invests primarily in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments. Their primary objectives are to sustain and enhance stockholder equity value and provide current income for distribution to stockholders through real estate investments in long-term care facilities and other health care related facilities managed by experienced operators providing quality care. “
Several other analysts have also recently commented on LTC. Mizuho cut shares of LTC Properties from a buy rating to a neutral rating and set a $53.00 target price for the company. in a research note on Monday, July 18th. Cantor Fitzgerald initiated coverage on shares of LTC Properties in a report on Thursday, June 23rd. They issued a buy rating on the stock. Royal Bank Of Canada lowered shares of LTC Properties from an outperform rating to a sector perform rating and set a $50.00 price target on the stock. in a report on Friday, June 17th. Canaccord Genuity lifted their price target on shares of LTC Properties from $54.00 to $58.00 and gave the company a buy rating in a report on Monday, August 15th. Finally, Hilliard Lyons lowered shares of LTC Properties from a neutral rating to an underperform rating in a report on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. LTC Properties has a consensus rating of Hold and a consensus price target of $53.00.
LTC Properties (NYSE:LTC) opened at 49.0016 on Wednesday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 23.2125 and a beta of 0.36. The company has a 50-day moving average price of $51.68 and a 200 day moving average price of $49.68. LTC Properties has a 12-month low of $40.02 and a 12-month high of $54.20.
LTC Properties (NYSE:LTC) last released its earnings results on Monday, August 1st. The real estate investment trust reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The firm earned $40 million during the quarter, compared to analysts’ expectations of $33.66 million. LTC Properties had a net margin of 52.62% and a return on equity of 11.83%. During the same period in the previous year, the company earned $0.67 EPS. On average, equities research analysts predict that LTC Properties will post $3.06 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 22nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $2.28 annualized dividend and a dividend yield of 4.66%. LTC Properties’s payout ratio is 102.37%.
In related news, Director Timothy Triche sold 2,000 shares of LTC Properties stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $52.13, for a total transaction of $104,260.00. Following the transaction, the director now owns 36,188 shares in the company, valued at approximately $1,886,480.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. BlackRock Japan Co. Ltd raised its position in 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 valued at $104,000 after buying an additional 37 shares during the last quarter. Societe Generale acquired a new position in LTC Properties during the second quarter valued at $131,000. Tower Research Capital LLC TRC raised its position 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 valued at $143,000 after buying an additional 2,523 shares during the last quarter. Invictus RG acquired a new position in LTC Properties during the second quarter valued at $154,000. Finally, PNC Financial Services Group Inc. raised its position 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 valued at $154,000 after buying an additional 2,464 shares during the last quarter. Institutional investors and hedge funds own 82.90% of the company’s stock.
LTC Properties Company Profile
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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