LTC Properties, Inc. (LTC) Receives Consensus Rating of “Hold” from Analysts
LTC Properties, Inc. (NYSE:LTC) has been given a consensus rating of “Hold” by the ten analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $50.60.
A number of equities analysts have commented on the stock. BidaskClub upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research downgraded shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Stifel Nicolaus set a $46.00 target price on shares of LTC Properties and gave the stock a “hold” rating in a report on Sunday, August 13th. BMO Capital Markets downgraded shares of LTC Properties from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $50.00 to $44.00 in a report on Friday, August 11th. Finally, Mizuho reiterated a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th.
Shares of LTC Properties (NYSE:LTC) opened at 49.11 on Friday. LTC Properties has a 12 month low of $43.17 and a 12 month high of $53.08. The stock has a market capitalization of $1.94 billion, a P/E ratio of 21.59 and a beta of 0.15. The company’s 50-day moving average is $49.26 and its 200 day moving average is $48.72.
LTC Properties (NYSE:LTC) last announced its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The business had revenue of $42.47 million during the quarter, compared to the consensus estimate of $35.08 million. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. Equities research analysts predict that LTC Properties will post $2.19 earnings per share for the current year.
The firm also recently declared a monthly dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.64%. LTC Properties’s payout ratio is 100.00%.
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Several hedge funds have recently modified their holdings of LTC. BlackRock Inc. grew its stake in shares of LTC Properties by 10,627.1% during the first quarter. BlackRock Inc. now owns 6,085,392 shares of the real estate investment trust’s stock worth $291,489,000 after acquiring an additional 6,028,663 shares during the last quarter. Uniplan Investment Counsel Inc. grew its stake in shares of LTC Properties by 89.0% during the second quarter. Uniplan Investment Counsel Inc. now owns 1,324,700 shares of the real estate investment trust’s stock worth $36,538,000 after acquiring an additional 623,870 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of LTC Properties during the second quarter worth about $362,000. Victory Capital Management Inc. grew its stake in shares of LTC Properties by 31.9% during 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 acquiring an additional 239,198 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of LTC Properties during the second quarter worth about $8,975,000. Institutional investors and hedge funds own 81.37% of the company’s stock.
LTC Properties Company Profile
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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