Shares of LTC Properties, Inc. (NYSE:LTC – Get Rating) have been given an average rating of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $36.67.
A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Credit Suisse Group raised their target price on shares of LTC Properties from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, April 1st. StockNews.com started coverage on shares of LTC Properties in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Royal Bank of Canada raised shares of LTC Properties from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $34.00 to $37.00 in a research note on Monday, March 14th.
Shares of NYSE:LTC opened at $36.15 on Friday. The firm’s 50 day moving average is $36.01 and its two-hundred day moving average is $34.68. LTC Properties has a 52 week low of $31.36 and a 52 week high of $43.67. The firm has a market capitalization of $1.43 billion, a P/E ratio of 25.64 and a beta of 0.93. The company has a current ratio of 11.94, a quick ratio of 11.94 and a debt-to-equity ratio of 0.97.
LTC Properties (NYSE:LTC – Get Rating) last posted its quarterly earnings data on Thursday, February 17th. The real estate investment trust reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.25). LTC Properties had a net margin of 35.74% and a return on equity of 7.34%. During the same quarter last year, the business posted $0.78 EPS. Analysts predict that LTC Properties will post 2.52 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 22nd will be given a $0.19 dividend. The ex-dividend date is Tuesday, June 21st. This represents a $2.28 dividend on an annualized basis and a yield of 6.31%. LTC Properties’s payout ratio is 161.70%.
A number of hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its holdings in shares of LTC Properties by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 16,419 shares of the real estate investment trust’s stock valued at $561,000 after purchasing an additional 297 shares in the last quarter. Gradient Investments LLC raised its holdings in shares of LTC Properties by 6.0% during the 4th quarter. Gradient Investments LLC now owns 5,723 shares of the real estate investment trust’s stock valued at $195,000 after purchasing an additional 325 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of LTC Properties by 2.2% during the 1st quarter. Maryland State Retirement & Pension System now owns 15,926 shares of the real estate investment trust’s stock valued at $613,000 after purchasing an additional 347 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in LTC Properties by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,870 shares of the real estate investment trust’s stock worth $1,088,000 after acquiring an additional 400 shares during the period. Finally, abrdn plc raised its holdings in LTC Properties by 5.9% in the 4th quarter. abrdn plc now owns 8,367 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 464 shares during the period. Institutional investors own 71.78% of the company’s stock.
About LTC Properties (Get Rating)
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds 181 investments in 27 states with 29 operating partners.
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