LTC Properties, Inc. (LTC) Receives Average Recommendation of “Hold” from Brokerages
Shares of LTC Properties, Inc. (NYSE:LTC) have received a consensus rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $50.17.
Several research analysts have recently weighed in on LTC shares. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. BMO Capital Markets reissued a “sell” rating and set a $44.00 price objective on shares of LTC Properties in a report on Wednesday, October 18th. Stifel Nicolaus reissued a “hold” rating and set a $50.00 price objective on shares of LTC Properties in a report on Friday, July 28th. KeyCorp reissued a “hold” rating on shares of LTC Properties in a report on Sunday, September 17th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $48.00 price objective on shares of LTC Properties in a report on Monday, October 23rd.
LTC Properties (NYSE:LTC) opened at $46.47 on Thursday. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,840.00, a PE ratio of 14.92, a price-to-earnings-growth ratio of 3.77 and a beta of 0.19. LTC Properties has a twelve month low of $43.91 and a twelve month high of $52.85.
The firm also recently announced a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, November 21st. This represents a $2.28 dividend on an annualized basis and a yield of 4.91%. LTC Properties’s dividend payout ratio is currently 102.70%.
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A number of hedge funds have recently made changes to their positions in LTC. PNC Financial Services Group Inc. increased its holdings in LTC Properties by 12.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 231 shares during the last quarter. Quantbot Technologies LP purchased a new stake in LTC Properties during the third quarter valued at approximately $139,000. Riverhead Capital Management LLC increased its holdings in LTC Properties by 91.5% during the second quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 1,464 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in LTC Properties by 6.1% during the second quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 200 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in 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 buying an additional 300 shares during the last quarter. 79.23% of the stock is owned by institutional investors and hedge funds.
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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