Shares of LTC Properties Inc. (NYSE:LTC) have earned an average rating of “Hold” from the eight ratings firms that are covering the stock. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $51.75.
Several research firms have commented on LTC. Cantor Fitzgerald reissued a “buy” rating on shares of LTC Properties in a research note on Friday, September 9th. Zacks Investment Research downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Mizuho downgraded shares of LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research note on Monday, July 18th. Canaccord Genuity lifted their price target on shares of LTC Properties from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Finally, Hilliard Lyons downgraded shares of LTC Properties from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th.
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 value of $104,260.00. Following the sale, the director now owns 36,188 shares in the company, valued at $1,886,480.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Japan Co. Ltd boosted 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 during the period. Societe Generale acquired a new stake in shares of LTC Properties during the second quarter worth approximately $131,000. Tower Research Capital LLC TRC boosted its stake in shares of 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 period. PNC Financial Services Group Inc. boosted its stake in shares of 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 period. Finally, Invictus RG acquired a new stake in shares of LTC Properties during the second quarter worth approximately $154,000. Institutional investors and hedge funds own 82.89% of the company’s stock.
Shares of LTC Properties (NYSE:LTC) traded up 0.60% on Wednesday, reaching $52.35. 41,063 shares of the company traded hands. The stock has a market capitalization of $2.05 billion, a P/E ratio of 24.80 and a beta of 0.41. LTC Properties has a one year low of $40.02 and a one year high of $54.20. The stock’s 50 day moving average price is $52.01 and its 200-day moving average price is $49.41.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $40 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.67 earnings per share. Equities analysts forecast that LTC Properties will post $3.06 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which was paid on Wednesday, August 31st. Investors of record on Tuesday, August 23rd were issued a $0.18 dividend. This represents a $2.16 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Friday, August 19th. LTC Properties’s dividend payout ratio (DPR) is currently 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.
Receive News & Ratings for LTC Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LTC Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.