Shares of LTC Properties Inc (NYSE:LTC) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.00.
LTC has been the topic of several research analyst reports. Credit Suisse Group initiated coverage on LTC Properties in a research report on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 price objective on the stock. Zacks Investment Research lowered LTC Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Berenberg Bank initiated coverage on LTC Properties in a research note on Thursday. They set a “hold” rating and a $49.00 price objective on the stock.
NYSE:LTC traded up $0.13 during trading hours on Thursday, hitting $49.63. The company’s stock had a trading volume of 2,666 shares, compared to its average volume of 193,668. The stock has a fifty day simple moving average of $48.07 and a 200-day simple moving average of $46.12. The company has a market capitalization of $1.95 billion, a P/E ratio of 16.22, a PEG ratio of 4.12 and a beta of 0.39. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.57 and a quick ratio of 9.57. LTC Properties has a twelve month low of $40.11 and a twelve month high of $50.52.
LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.25). LTC Properties had a return on equity of 13.18% and a net margin of 63.58%. The company had revenue of $38.28 million for the quarter, compared to the consensus estimate of $30.54 million. On average, equities analysts predict that LTC Properties will post 3.06 EPS for the current fiscal year.
The company also recently announced a dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a $0.19 dividend. The ex-dividend date is Thursday, September 19th. LTC Properties’s dividend payout ratio is currently 74.51%.
In related news, CEO Wendy Simpson sold 7,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $49.20, for a total value of $344,400.00. Following the transaction, the chief executive officer now directly owns 379,365 shares of the company’s stock, valued at approximately $18,664,758. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy Triche sold 2,800 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $46.15, for a total value of $129,220.00. Following the completion of the transaction, the director now directly owns 36,362 shares in the company, valued at $1,678,106.30. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Stonebridge Capital Advisors LLC bought a new stake in shares of LTC Properties in the second quarter worth about $42,000. Steward Partners Investment Advisory LLC bought a new position in LTC Properties in the second quarter worth approximately $44,000. Quantamental Technologies LLC raised its stake in LTC Properties by 46.0% in the first quarter. Quantamental Technologies LLC now owns 996 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 314 shares in the last quarter. C M Bidwell & Associates Ltd. increased its position in shares of LTC Properties by 17.8% during the second quarter. C M Bidwell & Associates Ltd. now owns 1,520 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 230 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of LTC Properties by 56.5% during the second quarter. Advisory Services Network LLC now owns 1,565 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 565 shares in the last quarter. 75.74% of the stock is currently owned by institutional investors and hedge funds.
About LTC Properties
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 more than 200 investments in 28 states with 30 operating partners.
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