LTC Properties Inc (LTC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of LTC Properties Inc (NYSE:LTC) have received an average rating of “Hold” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $50.17.

Several equities analysts recently weighed in on LTC shares. BMO Capital Markets reiterated a “sell” rating and issued a $44.00 price target on shares of LTC Properties in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. ValuEngine downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Royal Bank of Canada reiterated a “hold” rating and issued a $48.00 price target on shares of LTC Properties in a report on Monday, October 23rd. Finally, KeyCorp reiterated a “hold” rating on shares of LTC Properties in a report on Sunday, September 17th.

In other LTC Properties news, Director Timothy Triche sold 2,720 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $43.35, for a total value of $117,912.00. Following the sale, the director now owns 34,656 shares in the company, valued at approximately $1,502,337.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Boyd W. Hendrickson sold 2,787 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $46.66, for a total value of $130,041.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,727 shares of company stock worth $436,470. Insiders own 1.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in LTC. PNC Financial Services Group Inc. boosted its position in LTC Properties by 12.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 231 shares in the last quarter. Quantbot Technologies LP purchased a new stake in LTC Properties in the 3rd quarter worth approximately $139,000. Riverhead Capital Management LLC boosted its position in LTC Properties by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 1,464 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in LTC Properties by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 200 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in LTC Properties in the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 77.52% of the company’s stock.

LTC Properties (LTC) opened at $41.04 on Friday. LTC Properties has a fifty-two week low of $40.65 and a fifty-two week high of $52.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 8.66 and a quick ratio of 8.66. The firm has a market cap of $1,620.00, a P/E ratio of 18.49, a P/E/G ratio of 3.40 and a beta of 0.18.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.26. LTC Properties had a net margin of 52.18% and a return on equity of 11.69%. The company had revenue of $41.25 million for the quarter, compared to the consensus estimate of $32.91 million. During the same quarter in the prior year, the company earned $0.57 EPS. analysts expect that LTC Properties will post 3.08 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.28 annualized dividend and a yield of 5.56%. LTC Properties’s dividend payout ratio is presently 102.70%.

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LTC Properties Company Profile

LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).

Analyst Recommendations for LTC Properties (NYSE:LTC)

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