BMO Capital Markets reiterated their sell rating on shares of LTC Properties, Inc. (NYSE:LTC) in a research report released on Wednesday, October 18th. BMO Capital Markets currently has a $44.00 price target on the real estate investment trust’s stock.
LTC has been the topic of a number of other research reports. BidaskClub lowered LTC Properties from a hold rating to a sell rating in a research note on Saturday, August 12th. Stifel Nicolaus set a $46.00 price objective on LTC Properties and gave the stock a hold rating in a research note on Sunday, August 13th. KeyCorp reissued a hold rating on shares of LTC Properties in a research note on Tuesday, October 17th. Capital One Financial Corporation began coverage on LTC Properties in a research note on Monday, September 25th. They set an overweight rating and a $50.00 price objective on the stock. Finally, Zacks Investment Research raised LTC Properties from a sell rating to a hold rating in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. LTC Properties has an average rating of Hold and an average price target of $50.17.
LTC Properties (LTC) opened at 45.78 on Wednesday. The stock has a 50 day moving average of $47.47 and a 200-day moving average of $48.82. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 20.12 and a beta of 0.16. LTC Properties has a 52-week low of $43.17 and a 52-week high of $52.85.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $42.47 million for the quarter, compared to analyst estimates of $35.08 million. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. On average, equities research analysts anticipate that LTC Properties will post $2.18 earnings per share for the current fiscal year.
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The firm also recently declared a monthly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 22nd will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Tuesday, November 21st. LTC Properties’s dividend payout ratio (DPR) is presently 100.00%.
Several hedge funds have recently bought and sold shares of the stock. Pinebridge Investments L.P. raised its holdings in shares of LTC Properties by 0.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,213 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 49 shares during the period. People s United Financial Inc. raised its holdings in shares of LTC Properties by 0.9% in the 2nd quarter. People s United Financial Inc. now owns 17,639 shares of the real estate investment trust’s stock valued at $907,000 after buying an additional 150 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of 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 valued at $178,000 after buying an additional 200 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $105,000 after buying an additional 231 shares during the period. Finally, Texas Permanent School Fund raised its holdings in shares of LTC Properties by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 28,892 shares of the real estate investment trust’s stock valued at $1,485,000 after buying an additional 233 shares during the period. Hedge funds and other institutional investors own 81.13% of the company’s stock.
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).
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