LTC Properties, Inc. (NYSE:LTC) Receives $39.00 Average Price Target from Brokerages

LTC Properties, Inc. (NYSE:LTC) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $39.00.

A number of analysts recently commented on the company. Wells Fargo & Company upped their price objective on LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price target on shares of LTC Properties in a research report on Friday, October 17th. Cantor Fitzgerald began coverage on shares of LTC Properties in a report on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price objective on the stock. Royal Bank Of Canada boosted their target price on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Finally, BMO Capital Markets raised shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 target price for the company in a report on Wednesday, September 24th.

LTC Properties Stock Performance

Shares of LTC stock opened at $34.62 on Friday. The company has a quick ratio of 8.68, a current ratio of 8.68 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average price of $35.28 and a 200-day moving average price of $35.42. LTC Properties has a 52 week low of $31.70 and a 52 week high of $37.25. The firm has a market capitalization of $1.65 billion, a PE ratio of 48.08 and a beta of 0.62.

LTC Properties (NYSE:LTC) last issued its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $50.05 million for the quarter, compared to analysts’ expectations of $65.94 million. LTC Properties had a net margin of 14.58% and a return on equity of 3.22%. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. As a group, equities research analysts expect that LTC Properties will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be paid a $0.19 dividend. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Monday, March 23rd. LTC Properties’s dividend payout ratio is 316.67%.

Insider Buying and Selling

In related news, Director David L. Gruber bought 4,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of $35.41 per share, for a total transaction of $141,640.00. Following the completion of the transaction, the director owned 28,738 shares of the company’s stock, valued at approximately $1,017,612.58. This trade represents a 16.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On LTC Properties

A number of institutional investors have recently bought and sold shares of LTC. Jones Financial Companies Lllp boosted its stake in shares of 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 worth $26,000 after acquiring an additional 300 shares during the period. Harbor Capital Advisors Inc. raised its stake 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. Aster Capital Management DIFC Ltd purchased a new position in LTC Properties in the 3rd quarter worth approximately $41,000. Elevation Point Wealth Partners LLC bought a new position in LTC Properties in the 2nd quarter worth approximately $41,000. Finally, Hantz Financial Services Inc. boosted its stake in LTC Properties by 701.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,258 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,101 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

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.