LTC Properties, Inc. (NYSE:LTC) Receives $34.13 Average Target Price from Analysts

LTC Properties, Inc. (NYSE:LTC) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $34.13.

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of LTC Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price target on the stock.

Insider Buying and Selling

In related news, Director Timothy Triche sold 3,082 shares of LTC Properties stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $97,606.94. Following the completion of the transaction, the director now directly owns 36,343 shares of the company’s stock, valued at approximately $1,150,982.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LTC Properties

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in LTC Properties by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 206,218 shares of the real estate investment trust’s stock valued at $6,624,000 after buying an additional 69,973 shares during the period. Price T Rowe Associates Inc. MD boosted its position in LTC Properties by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,988 shares of the real estate investment trust’s stock valued at $707,000 after buying an additional 833 shares during the period. GSA Capital Partners LLP purchased a new stake in LTC Properties in the 4th quarter valued at about $310,000. Legal & General Group Plc boosted its position in LTC Properties by 3.0% in the 4th quarter. Legal & General Group Plc now owns 388,555 shares of the real estate investment trust’s stock valued at $12,480,000 after buying an additional 11,214 shares during the period. Finally, Barclays PLC raised its holdings in shares of LTC Properties by 142.1% in the 4th quarter. Barclays PLC now owns 76,151 shares of the real estate investment trust’s stock valued at $2,447,000 after purchasing an additional 44,701 shares in the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

LTC Properties Stock Down 0.8 %

Shares of LTC stock opened at $31.32 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.29 and a quick ratio of 13.29. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 14.50 and a beta of 0.87. The company’s fifty day moving average price is $31.85 and its 200-day moving average price is $32.09. LTC Properties has a one year low of $30.30 and a one year high of $35.72.

LTC Properties Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.28%. LTC Properties’s dividend payout ratio is presently 105.56%.

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.