LTC Properties, Inc. (NYSE:LTC)’s share price hit a new 52-week high and low during trading on Friday . The stock traded as low as $36.10 and last traded at $36.31, with a volume of 110964 shares changing hands. The stock had previously closed at $36.41.
Several equities analysts recently commented on the stock. ValuEngine lowered shares of LTC Properties from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Thursday, January 11th. Royal Bank of Canada set a $43.00 price target on shares of LTC Properties and gave the stock a “hold” rating in a research report on Tuesday, March 6th. Mizuho reduced their price target on shares of LTC Properties from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, March 5th. Finally, Stifel Nicolaus set a $40.00 price target on shares of LTC Properties and gave the stock a “hold” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.25.
The company has a market capitalization of $1,474.59, a P/E ratio of 11.69, a P/E/G ratio of 3.07 and a beta of 0.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 8.25 and a current ratio of 8.25.
LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.25). The firm had revenue of $41.73 million for the quarter, compared to analyst estimates of $33.28 million. LTC Properties had a return on equity of 11.52% and a net margin of 51.86%. research analysts predict that LTC Properties, Inc. will post 3.03 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, June 21st will be paid a $0.19 dividend. The ex-dividend date is Wednesday, June 20th. This represents a $2.28 dividend on an annualized basis and a yield of 6.27%. LTC Properties’s dividend payout ratio is currently 73.55%.
Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. grew its stake in LTC Properties by 18.3% in the 4th quarter. Macquarie Group Ltd. now owns 16,125 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 2,500 shares during the period. Jane Street Group LLC acquired a new stake in LTC Properties in the 4th quarter valued at $212,000. GSA Capital Partners LLP acquired a new stake in LTC Properties in the 3rd quarter valued at $251,000. SG Americas Securities LLC grew its stake in LTC Properties by 130.6% in the 3rd quarter. SG Americas Securities LLC now owns 6,308 shares of the real estate investment trust’s stock valued at $296,000 after acquiring an additional 3,573 shares during the period. Finally, Texas Yale Capital Corp. grew its stake in LTC Properties by 27.0% in the 4th quarter. Texas Yale Capital Corp. now owns 7,173 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 1,527 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.
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About LTC Properties
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At December 31, 2017, LTC had 202 investments located in 29 states comprising 105 assisted living communities, 96 skilled nursing centers and 1 behavioral health care hospital.
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