Analysts Set LTC Properties Inc. (NYSE:LTC) Target Price at $51.75
LTC Properties Inc. (NYSE:LTC) has earned an average recommendation of “Hold” from the eight analysts that are covering the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.75.
Several analysts have issued reports on LTC shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of LTC Properties in a research note on Friday, September 9th. Royal Bank Of Canada lowered LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 target price for the company. in a research note on Friday, June 17th. Mizuho lowered LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a research note on Monday, July 18th. Hilliard Lyons lowered LTC Properties from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. Finally, Canaccord Genuity upped their target price on LTC Properties from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 15th.
LTC Properties (NYSE:LTC) opened at 51.99 on Wednesday. The stock has a 50 day moving average of $52.01 and a 200-day moving average of $49.50. LTC Properties has a 12-month low of $40.02 and a 12-month high of $54.20. The company has a market cap of $2.04 billion, a PE ratio of 24.63 and a beta of 0.41.
LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The company earned $40 million during the quarter, compared to analyst estimates of $33.66 million. LTC Properties had a return on equity of 11.83% and a net margin of 52.62%. During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, equities research analysts anticipate that LTC Properties will post $3.06 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, September 20th. This represents a $2.16 annualized dividend and a yield of 4.15%. LTC Properties’s payout ratio is currently 102.37%.
In related news, Director Timothy Triche sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $52.13, for a total transaction of $104,260.00. Following the completion of the transaction, the director now owns 36,188 shares in the company, valued at $1,886,480.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in LTC. Mason Street Advisors LLC acquired a new position in shares of LTC Properties during the second quarter worth approximately $383,000. Royal Bank of Canada increased its position in shares of LTC Properties by 2.7% in the second quarter. Royal Bank of Canada now owns 1,154,887 shares of the real estate investment trust’s stock worth $59,742,000 after buying an additional 30,683 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of LTC Properties by 11.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 278,599 shares of the real estate investment trust’s stock worth $14,412,000 after buying an additional 29,641 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of LTC Properties by 50.5% in the second quarter. Hillsdale Investment Management Inc. now owns 14,900 shares of the real estate investment trust’s stock worth $771,000 after buying an additional 5,000 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of LTC Properties by 31.5% in the second quarter. Stifel Financial Corp now owns 15,535 shares of the real estate investment trust’s stock worth $804,000 after buying an additional 3,724 shares in the last quarter. Institutional investors own 82.89% of the company’s stock.
LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
Receive News & Stock Ratings for LTC Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LTC Properties Inc. and related stocks with our FREE daily email newsletter.