LTC Properties, Inc. (NYSE:LTC) Receives Average Recommendation of “Hold” from Analysts

LTC Properties, Inc. (NYSE:LTC) has received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $34.13.

Separately, Deutsche Bank Aktiengesellschaft began coverage on LTC Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $34.00 target price for the company.

LTC Properties Stock Down 1.0 %

Shares of LTC Properties stock opened at $31.62 on Friday. The business has a 50-day moving average price of $31.81 and a 200 day moving average price of $32.09. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $35.72. The firm has a market cap of $1.36 billion, a P/E ratio of 14.64 and a beta of 0.87. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.97.

LTC Properties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 7.21%. The ex-dividend date of this dividend is Thursday, June 20th. LTC Properties’s dividend payout ratio (DPR) is presently 105.56%.

Insider Buying and Selling

In related news, Director Timothy Triche sold 3,082 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $97,606.94. Following the completion of the transaction, the director now directly owns 36,343 shares in the company, valued at approximately $1,150,982.81. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.00% of the company’s stock.

Institutional Trading of LTC Properties

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of LTC Properties by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 645,018 shares of the real estate investment trust’s stock valued at $20,724,000 after buying an additional 28,337 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in LTC Properties during the 3rd quarter valued at $766,000. Exchange Traded Concepts LLC raised its stake in LTC Properties by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 40,058 shares of the real estate investment trust’s stock valued at $1,287,000 after acquiring an additional 317 shares in the last quarter. Private Trust Co. NA boosted its position in LTC Properties by 69.2% during the 4th quarter. Private Trust Co. NA now owns 1,252 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 512 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in shares of LTC Properties by 14.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 130,310 shares of the real estate investment trust’s stock worth $4,259,000 after purchasing an additional 16,602 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.