Shares of LTC Properties, Inc. (NYSE:LTC) have been given an average recommendation of “Hold” by the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $35.00.
Several research analysts have recently issued reports on LTC shares. ValuEngine upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Tuesday, December 1st. Berenberg Bank cut shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Wednesday, December 2nd. Zacks Investment Research cut shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday, December 19th. TheStreet upgraded shares of LTC Properties from a “c+” rating to a “b-” rating in a report on Friday, December 4th. Finally, BidaskClub upgraded shares of LTC Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 16th.
Several hedge funds have recently made changes to their positions in LTC. Macquarie Group Ltd. raised its position in shares of LTC Properties by 8.5% in the 2nd quarter. Macquarie Group Ltd. now owns 12,039 shares of the real estate investment trust’s stock worth $453,000 after purchasing an additional 939 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of LTC Properties by 3.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,790 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 341 shares during the last quarter. Blair William & Co. IL purchased a new position in LTC Properties in the 2nd quarter worth about $288,000. Bank of New York Mellon Corp raised its position in LTC Properties by 35.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,167 shares of the real estate investment trust’s stock worth $57,000,000 after buying an additional 393,681 shares during the last quarter. Finally, Barclays PLC raised its position in LTC Properties by 11.2% in the 2nd quarter. Barclays PLC now owns 99,585 shares of the real estate investment trust’s stock worth $3,751,000 after buying an additional 10,024 shares during the last quarter. Hedge funds and other institutional investors own 72.33% of the company’s stock.
Shares of LTC Properties stock opened at $38.91 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 10.28 and a current ratio of 10.28. LTC Properties has a 52-week low of $24.49 and a 52-week high of $50.50. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 17.14 and a beta of 0.88. The company’s 50 day moving average price is $38.44 and its 200-day moving average price is $36.93.
LTC Properties (NYSE:LTC) last issued its earnings results on Thursday, October 29th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.40). LTC Properties had a return on equity of 11.41% and a net margin of 56.46%. As a group, equities research analysts forecast that LTC Properties will post 2.92 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which was paid on Thursday, December 31st. Investors of record on Wednesday, December 23rd were issued a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend was Tuesday, December 22nd. LTC Properties’s dividend payout ratio (DPR) is currently 74.03%.
LTC Properties Company Profile
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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