A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald reiterated a buy rating and issued a $46.00 price objective (up from $45.00) on shares of LTC Properties in a report on Thursday. TheStreet raised shares of LTC Properties from a c+ rating to a b- rating in a research note on Thursday, June 28th. Royal Bank of Canada cut shares of LTC Properties from a sector perform rating to an underperform rating in a research note on Friday, June 1st. Zacks Investment Research raised shares of LTC Properties from a sell rating to a hold rating in a research note on Friday, May 18th. Finally, ValuEngine cut shares of LTC Properties from a hold rating to a sell rating in a research note on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $43.43.
Shares of LTC Properties traded down $0.13, reaching $43.16, during midday trading on Thursday, according to Marketbeat Ratings. The company’s stock had a trading volume of 157,769 shares, compared to its average volume of 152,984. The company has a quick ratio of 9.69, a current ratio of 8.26 and a debt-to-equity ratio of 0.81. LTC Properties has a fifty-two week low of $34.46 and a fifty-two week high of $49.59. The company has a market capitalization of $1.72 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 3.60 and a beta of 0.13.
LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.98. LTC Properties had a net margin of 77.94% and a return on equity of 16.84%. The company had revenue of $33.93 million for the quarter, compared to the consensus estimate of $34.55 million. sell-side analysts expect that LTC Properties will post 3.01 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 20th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, September 19th. This represents a $2.28 annualized dividend and a dividend yield of 5.28%. LTC Properties’s dividend payout ratio is presently 73.55%.
Large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. grew its stake in shares of LTC Properties by 18.3% in the fourth quarter. Macquarie Group Ltd. now owns 16,125 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 2,500 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of LTC Properties in the second quarter valued at $201,000. Pitcairn Co. bought a new position in LTC Properties during the second quarter worth $205,000. Janney Montgomery Scott LLC bought a new position in LTC Properties during the second quarter worth $206,000. Finally, Jane Street Group LLC bought a new position in LTC Properties during the fourth quarter worth $212,000. 80.40% of the stock is owned by institutional investors and hedge funds.
LTC Properties Company Profile
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At March 31, 2018, LTC had 203 investments located in 29 states comprising 105 assisted living communities, 97 skilled nursing centers and a behavioral health care hospital.
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