LTC Properties, Inc. (NYSE:LTC) Receives $39.00 Consensus PT from Brokerages

LTC Properties, Inc. (NYSE:LTC) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $39.00.

A number of analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of LTC Properties in a research note on Monday. Royal Bank Of Canada lifted their target price on LTC Properties from $37.00 to $38.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Cantor Fitzgerald began coverage on LTC Properties in a report on Wednesday, October 1st. They set a “neutral” rating and a $38.00 price target on the stock. BMO Capital Markets raised shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price objective for the company in a report on Wednesday, September 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 target price on shares of LTC Properties in a research report on Friday, October 17th.

Insiders Place Their Bets

In other news, Director David L. Gruber bought 4,000 shares of the stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $35.41 per share, with a total value of $141,640.00. Following the completion of the acquisition, the director owned 28,738 shares in the company, valued at $1,017,612.58. The trade was a 16.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

Several institutional investors have recently made changes to their positions in LTC. Vanguard Group Inc. grew its position in LTC Properties by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,000,767 shares of the real estate investment trust’s stock valued at $248,177,000 after buying an additional 39,833 shares during the period. State Street Corp lifted its position in LTC Properties by 2.0% during the second quarter. State Street Corp now owns 3,163,763 shares of the real estate investment trust’s stock valued at $109,498,000 after purchasing an additional 61,678 shares in the last quarter. Geode Capital Management LLC grew its holdings in LTC Properties by 2.2% during the second quarter. Geode Capital Management LLC now owns 1,245,676 shares of the real estate investment trust’s stock valued at $43,118,000 after purchasing an additional 26,631 shares during the period. Charles Schwab Investment Management Inc. increased its position in LTC Properties by 15.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust’s stock worth $33,653,000 after buying an additional 126,598 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of LTC Properties by 4,205.5% in the third quarter. American Century Companies Inc. now owns 812,235 shares of the real estate investment trust’s stock worth $29,939,000 after buying an additional 793,370 shares during the period. Institutional investors own 69.25% of the company’s stock.

LTC Properties Stock Down 0.9%

LTC stock opened at $34.81 on Monday. The business has a 50 day moving average of $35.48 and a 200 day moving average of $35.51. The firm has a market cap of $1.66 billion, a PE ratio of 48.34 and a beta of 0.62. LTC Properties has a twelve month low of $31.70 and a twelve month high of $37.76. The company has a quick ratio of 8.68, a current ratio of 8.68 and a debt-to-equity ratio of 0.90.

LTC Properties (NYSE:LTC) last released its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $50.05 million for the quarter, compared to analysts’ expectations of $65.94 million. LTC Properties had a return on equity of 3.22% and a net margin of 14.58%.The company’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. On average, research analysts forecast that LTC Properties will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently disclosed a dec 25 dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a dividend yield of 615.0%. LTC Properties’s payout ratio is presently 316.67%.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.