Brokerages Set LTC Properties Inc (LTC) Target Price at $50.17

LTC Properties Inc (NYSE:LTC) has earned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $50.17.

Several analysts have issued reports on the company. ValuEngine lowered LTC Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered LTC Properties from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Royal Bank of Canada restated a “hold” rating and issued a $48.00 price objective on shares of LTC Properties in a research note on Monday, October 23rd. BMO Capital Markets restated a “sell” rating and issued a $44.00 price objective on shares of LTC Properties in a research note on Wednesday, October 18th. Finally, KeyCorp restated a “hold” rating on shares of LTC Properties in a research note on Tuesday, October 17th.

Shares of LTC Properties (LTC) traded up $1.03 during midday trading on Tuesday, reaching $38.56. The company had a trading volume of 303,238 shares, compared to its average volume of 275,143. LTC Properties has a 1 year low of $37.30 and a 1 year high of $52.85. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1,530.00, a PE ratio of 17.37, a PEG ratio of 3.09 and a beta of 0.07.

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

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th will be paid 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 5.91%. LTC Properties’s dividend payout ratio is 102.70%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in LTC. Wells Fargo & Company MN increased its stake in shares of LTC Properties by 2.9% during the second quarter. Wells Fargo & Company MN now owns 103,210 shares of the real estate investment trust’s stock worth $5,305,000 after purchasing an additional 2,947 shares during the period. Amalgamated Bank increased its stake in shares of LTC Properties by 7.1% during the second quarter. Amalgamated Bank now owns 5,373 shares of the real estate investment trust’s stock worth $276,000 after purchasing an additional 357 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of LTC Properties by 12.8% during the second 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 during the period. New York State Common Retirement Fund increased its stake in shares of LTC Properties by 15.3% during the second quarter. New York State Common Retirement Fund now owns 42,100 shares of the real estate investment trust’s stock worth $2,164,000 after purchasing an additional 5,599 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of LTC Properties by 1.1% during the second quarter. Vanguard Group Inc. now owns 6,477,456 shares of the real estate investment trust’s stock worth $332,876,000 after purchasing an additional 67,988 shares during the period. Institutional investors own 77.94% of the company’s stock.

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About LTC Properties

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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