LTC Properties Inc. Declares Oct 16 Dividend of $0.19 (LTC)
LTC Properties Inc. (NYSE:LTC) announced a oct 16 dividend on Monday, October 3rd. Investors of record on Friday, October 21st will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, October 31st.
Shares of LTC Properties (NYSE:LTC) traded down 1.0196% on Monday, reaching $51.4599. The company had a trading volume of 49,546 shares. The company has a market capitalization of $2.02 billion, a P/E ratio of 24.3770 and a beta of 0.36. The company has a 50 day moving average of $52.01 and a 200-day moving average of $49.50. LTC Properties has a 52 week low of $40.02 and a 52 week high of $54.20.
LTC Properties (NYSE:LTC) last posted its earnings results on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The company earned $40 million during the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.67 earnings per share. Analysts predict that LTC Properties will post $3.06 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the company. Cantor Fitzgerald reissued a “buy” rating on shares of LTC Properties in a research note on Friday, September 9th. Zacks Investment Research cut LTC Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Mizuho cut 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. Canaccord Genuity raised 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. Finally, Hilliard Lyons cut LTC Properties from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. One investment 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. LTC Properties presently has an average rating of “Hold” and an average price target of $53.00.
In other news, Director Timothy Triche sold 2,000 shares of LTC Properties stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $52.13, for a total value of $104,260.00. Following the completion of the sale, the director now directly owns 36,188 shares of the company’s stock, valued at $1,886,480.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its position in LTC Properties by 2.0% in the second quarter. Baird Financial Group Inc. now owns 196,763 shares of the real estate investment trust’s stock worth $10,179,000 after buying an additional 3,847 shares during the period. Credit Suisse AG raised its position in LTC Properties by 38.0% in the second quarter. Credit Suisse AG now owns 123,016 shares of the real estate investment trust’s stock worth $6,363,000 after buying an additional 33,895 shares during the period. WFG Advisors LP raised its position in LTC Properties by 0.6% in the second quarter. WFG Advisors LP now owns 3,895 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 24 shares during the period. Martingale Asset Management L P bought a new position in LTC Properties during the second quarter worth about $611,000. Finally, Fifth Third Bancorp raised its position in LTC Properties by 42.1% in the second quarter. Fifth Third Bancorp now owns 50,495 shares of the real estate investment trust’s stock worth $2,612,000 after buying an additional 14,961 shares during the period. Hedge funds and other 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.
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