Analysts Set LTC Properties, Inc. (NYSE:LTC) Target Price at $38.60

LTC Properties, Inc. (NYSE:LTC) has earned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $38.60.

Several equities research analysts have recently weighed in on LTC shares. Wells Fargo & Company boosted their target price on shares of LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Cantor Fitzgerald set a $36.00 price target on LTC Properties in a research note on Monday, January 5th. Royal Bank Of Canada upped their price objective on LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LTC Properties in a report on Monday, December 29th.

LTC Properties Stock Up 0.9%

Shares of LTC Properties stock opened at $39.26 on Friday. LTC Properties has a 1-year low of $31.70 and a 1-year high of $40.05. The company has a market capitalization of $1.87 billion, a PE ratio of 54.53 and a beta of 0.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 8.68 and a quick ratio of 8.68. The business has a 50-day moving average of $36.34 and a 200-day moving average of $35.95.

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, March 23rd. This represents a c) annualized dividend and a yield of 5.8%. LTC Properties’s dividend payout ratio (DPR) is 316.67%.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano bought 10,000 shares of the stock in a transaction on Wednesday, December 31st. The stock was purchased at an average price of $34.44 per share, for a total transaction of $344,400.00. Following the completion of the purchase, the executive vice president directly owned 25,626 shares in the company, valued at approximately $882,559.44. This trade represents a 64.00% 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. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its stake in LTC Properties by 75.0% in the third quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 300 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of LTC Properties by 187.5% in the 4th quarter. Farther Finance Advisors LLC now owns 900 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 587 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in LTC Properties by 55.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 352 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in LTC Properties during the 2nd quarter valued at approximately $41,000. Finally, Aster Capital Management DIFC Ltd bought a new position in LTC Properties during the 3rd quarter worth $41,000. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Company Profile

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.