LTC Properties, Inc. (NYSE:LTC) Given Consensus Rating of “Hold” by Brokerages

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

A number of analysts have recently weighed in on LTC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LTC Properties in a report on Monday, December 29th. JMP Securities restated a “market outperform” rating and set a $43.00 target price on shares of LTC Properties in a research note on Friday, October 17th. 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 stock a “sector perform” rating in a research report on Monday, November 10th. Finally, Wells Fargo & Company lifted their target price 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.

Insider Activity at LTC Properties

In related news, Director David L. Gruber acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average price of $35.41 per share, with a total value of $141,640.00. Following the purchase, the director directly owned 28,738 shares in the company, valued at approximately $1,017,612.58. This trade represents a 16.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David M. Boitano bought 10,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was bought at an average price of $34.44 per share, for a total transaction of $344,400.00. Following the transaction, the executive vice president directly owned 25,626 shares of the company’s stock, valued at approximately $882,559.44. This represents a 64.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 15,000 shares of company stock valued at $521,980. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On LTC Properties

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in shares of LTC Properties by 75.0% during the third quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 300 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in LTC Properties by 187.5% during the 4th quarter. Farther Finance Advisors LLC now owns 900 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 587 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in LTC Properties by 55.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 352 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of LTC Properties during the third quarter valued at $41,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of LTC Properties during the second quarter valued at $41,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Stock Performance

Shares of NYSE:LTC opened at $36.19 on Tuesday. LTC Properties has a 12-month low of $31.70 and a 12-month high of $37.95. The company’s 50 day moving average price is $35.47 and its two-hundred day moving average price is $35.58. The firm has a market cap of $1.72 billion, a PE ratio of 50.26 and a beta of 0.62. The company has a quick ratio of 8.68, a current ratio of 8.68 and a debt-to-equity ratio of 0.90.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $50.05 million during the quarter, compared to analysts’ expectations of $65.94 million. LTC Properties had a return on equity of 3.22% and a net margin of 14.58%.The company’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. Equities research analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) annualized dividend and a dividend yield of 6.3%. LTC Properties’s payout ratio is 316.67%.

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.