LTC Properties (NYSE:LTC) Hits New 12-Month High – Time to Buy?

LTC Properties, Inc. (NYSE:LTC) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.35 and last traded at $38.04, with a volume of 379196 shares traded. The stock had previously closed at $37.28.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Cantor Fitzgerald set a $36.00 price objective on LTC Properties in a report on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of LTC Properties in a research report on Monday, December 29th. Wells Fargo & Company boosted their price target on shares of LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. JMP Securities reiterated a “market outperform” rating and set a $43.00 price objective on shares of LTC Properties in a research note on Friday, October 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.60.

LTC Properties Stock Up 2.0%

The business has a 50 day moving average of $35.58 and a two-hundred day moving average of $35.66. The stock has a market capitalization of $1.81 billion, a PE ratio of 52.83 and a beta of 0.62. The company has a debt-to-equity ratio of 0.90, a quick ratio of 8.68 and a current ratio of 8.68.

LTC Properties Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) dividend on an annualized basis and a yield of 6.0%. LTC Properties’s dividend payout ratio is presently 316.67%.

Insider Transactions at LTC Properties

In other news, EVP David M. Boitano purchased 10,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $34.44 per share, with a total value of $344,400.00. Following the completion of the acquisition, the executive vice president owned 25,626 shares of the company’s stock, valued at $882,559.44. This trade represents a 64.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Keybank National Association OH purchased a new stake in shares of LTC Properties during the third quarter worth about $7,931,000. Advisors Capital Management LLC boosted its stake in LTC Properties by 51.9% in the 2nd quarter. Advisors Capital Management LLC now owns 723,003 shares of the real estate investment trust’s stock worth $25,023,000 after purchasing an additional 246,919 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in LTC Properties in the 2nd quarter worth approximately $856,000. Squarepoint Ops LLC purchased a new stake in LTC Properties during the 2nd quarter worth approximately $599,000. Finally, Marshall Wace LLP increased its stake in LTC Properties by 18.3% during the 2nd quarter. Marshall Wace LLP now owns 544,742 shares of the real estate investment trust’s stock valued at $18,854,000 after purchasing an additional 84,110 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Company Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.