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. “
A number of other research firms also recently commented on LTC. Cantor Fitzgerald reaffirmed a buy rating on shares of LTC Properties in a report on Friday, September 9th. Mizuho downgraded LTC Properties from a buy rating to a neutral rating and set a $53.00 target price for the company. in a report on Monday, July 18th. Canaccord Genuity lifted their target price on LTC Properties from $54.00 to $58.00 and gave the stock a buy rating in a report on Monday, August 15th. Hilliard Lyons downgraded LTC Properties from a neutral rating to an underperform rating in a report on Wednesday, June 29th. Finally, Royal Bank Of Canada cut LTC Properties from an outperform rating to a sector perform rating and set a $50.00 price target for the company. in a research report on Friday, June 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $53.00.
LTC Properties (NYSE:LTC) traded down 0.76% during midday trading on Wednesday, hitting $48.53. 70,384 shares of the stock traded hands. The company has a 50-day moving average of $51.86 and a 200-day moving average of $49.65. LTC Properties has a 12 month low of $40.02 and a 12 month high of $54.20. The stock has a market cap of $1.90 billion, a PE ratio of 22.99 and a beta of 0.36.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The business earned $40 million during the quarter, compared to the consensus estimate of $33.66 million. LTC Properties had a return on equity of 11.83% and a net margin of 52.62%. During the same quarter last year, the company earned $0.67 earnings per share. On average, equities research analysts anticipate that LTC Properties will post $3.06 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 22nd will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Friday, November 18th. LTC Properties’s dividend payout ratio (DPR) is presently 102.37%.
In other news, Director Timothy Triche sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of LTC. Vanguard Group Inc. boosted its stake in shares of LTC Properties by 6.6% in the second quarter. Vanguard Group Inc. now owns 5,903,710 shares of the real estate investment trust’s stock valued at $305,398,000 after buying an additional 363,196 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of LTC Properties by 109.4% in the first quarter. Nuveen Asset Management LLC now owns 675,826 shares of the real estate investment trust’s stock valued at $30,574,000 after buying an additional 353,126 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of LTC Properties by 57.6% in the second quarter. JPMorgan Chase & Co. now owns 649,547 shares of the real estate investment trust’s stock valued at $33,601,000 after buying an additional 237,311 shares during the last quarter. Shinko Asset Management Co. Ltd. boosted its stake in shares of LTC Properties by 26.3% in the second quarter. Shinko Asset Management Co. Ltd. now owns 890,743 shares of the real estate investment trust’s stock valued at $46,078,000 after buying an additional 185,425 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of LTC Properties by 166.1% in the first quarter. Goldman Sachs Group Inc. now owns 275,077 shares of the real estate investment trust’s stock valued at $12,444,000 after buying an additional 171,688 shares during the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.
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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