LTC Properties (NYSE:LTC) Rating Increased to Outperform at JMP Securities

JMP Securities upgraded shares of LTC Properties (NYSE:LTC) from a market perform rating to an outperform rating in a research report released on Tuesday morning, Marketbeat Ratings reports. JMP Securities currently has $40.00 price objective on the real estate investment trust’s stock.

A number of other equities analysts have also commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a research note on Friday, September 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $37.00 target price (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, LTC Properties currently has an average rating of “Moderate Buy” and a consensus target price of $37.75.

LTC Properties Stock Performance

Shares of NYSE LTC opened at $34.19 on Tuesday. LTC Properties has a 52-week low of $30.30 and a 52-week high of $39.89. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 14.67 and a beta of 0.93. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock’s fifty day simple moving average is $36.95 and its 200 day simple moving average is $36.38.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same quarter in the previous year, the firm posted $0.65 EPS. LTC Properties’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts forecast that LTC Properties will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $2.28 dividend on an annualized basis and a yield of 6.67%. LTC Properties’s payout ratio is 97.85%.

Insider Activity

In other news, Director David L. Gruber purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average price of $37.16 per share, with a total value of $111,480.00. Following the purchase, the director now owns 21,516 shares in the company, valued at $799,534.56. This represents a 16.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the transaction, the insider now directly owns 158,585 shares in the company, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LTC Properties

A number of large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of LTC Properties in the third quarter worth about $36,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of LTC Properties by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 437 shares in the last quarter. GAMMA Investing LLC lifted its holdings in LTC Properties by 25.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 366 shares during the last quarter. FMR LLC boosted its position in LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 1,653 shares during the period. Finally, Community Trust & Investment Co. acquired a new position in LTC Properties during the third quarter valued at approximately $202,000. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.