LTC Properties, Inc. (LTC) Receives Average Recommendation of “Hold” from Analysts
LTC Properties, Inc. (NYSE:LTC) has been assigned a consensus rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $50.50.
LTC has been the subject of a number of recent research reports. Capital One Financial Corporation initiated coverage on LTC Properties in a research note on Monday, September 25th. They set an “overweight” rating and a $50.00 price objective for the company. Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. KeyCorp reiterated a “hold” rating on shares of LTC Properties in a research note on Sunday, September 17th. BidaskClub upgraded LTC Properties from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Stifel Nicolaus set a $46.00 price target on shares of LTC Properties and gave the company a “hold” rating in a report on Sunday, August 13th.
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A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in LTC Properties by 12.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 231 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of LTC Properties by 12.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 256 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of LTC Properties in the first quarter worth $156,000. Riverhead Capital Management LLC grew its stake in shares of LTC Properties by 91.5% in the second quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 1,464 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of LTC Properties by 9.4% during the second quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 300 shares during the period. 81.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LTC Properties (LTC) opened at 47.06 on Wednesday. The stock has a 50 day moving average of $47.92 and a 200 day moving average of $48.86. The firm has a market cap of $1.86 billion, a PE ratio of 20.69 and a beta of 0.16. LTC Properties has a 1-year low of $43.17 and a 1-year high of $52.85.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results 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. The business had revenue of $42.47 million for the quarter, compared to the consensus estimate of $35.08 million. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. Equities research analysts anticipate that LTC Properties will post $2.18 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 22nd will be issued a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Tuesday, November 21st. LTC Properties’s dividend payout ratio (DPR) is 100.00%.
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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