LTC Properties, Inc. (NYSE:LTC) Receives Average Rating of “Hold” from Analysts
Shares of LTC Properties, Inc. (NYSE:LTC) have earned a consensus recommendation of “Hold” from the ten research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $50.60.
LTC has been the topic of several analyst reports. Mizuho restated a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th. Royal Bank Of Canada restated a “hold” rating and set a $50.00 price objective on shares of LTC Properties in a report on Tuesday, June 27th. Zacks Investment Research downgraded LTC Properties from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BMO Capital Markets restated a “hold” rating and set a $50.00 price objective on shares of LTC Properties in a report on Tuesday, May 9th. Finally, Canaccord Genuity restated a “buy” rating and set a $58.00 price objective on shares of LTC Properties in a report on Tuesday, May 9th.
LTC Properties (NYSE LTC) opened at 47.65 on Tuesday. The company has a 50-day moving average price of $50.70 and a 200-day moving average price of $48.51. LTC Properties has a one year low of $43.17 and a one year high of $54.20. The firm has a market capitalization of $1.89 billion, a P/E ratio of 20.95 and a beta of 0.12.
LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. The company had revenue of $42.47 million for the quarter, compared to the consensus estimate of $35.08 million. On average, equities research analysts anticipate that LTC Properties will post $2.20 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd will be issued a $0.19 dividend. The ex-dividend date is Monday, August 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.78%. LTC Properties’s dividend payout ratio (DPR) is 100.00%.
Large investors have recently modified their holdings of the stock. Waterfront Capital Partners LLC purchased a new stake in shares of LTC Properties during the first quarter worth $757,000. ProShare Advisors LLC increased its stake in shares of LTC Properties by 180.0% in the first quarter. ProShare Advisors LLC now owns 19,396 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 12,470 shares during the period. Victory Capital Management Inc. increased its stake in shares of LTC Properties by 31.9% in the first quarter. Victory Capital Management Inc. now owns 988,880 shares of the real estate investment trust’s stock worth $47,367,000 after buying an additional 239,198 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of LTC Properties by 7.3% in the first quarter. Parametric Portfolio Associates LLC now owns 67,776 shares of the real estate investment trust’s stock worth $3,246,000 after buying an additional 4,616 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of LTC Properties by 8.8% in the first quarter. Stifel Financial Corp now owns 11,068 shares of the real estate investment trust’s stock worth $529,000 after buying an additional 899 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s stock.
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About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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