LTC Properties Inc. Announces Monthly Dividend of $0.19 (LTC)
LTC Properties Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, October 4th. Investors of record on Tuesday, November 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, November 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Friday, November 18th.
LTC Properties (NYSE:LTC) traded down 1.70% during mid-day trading on Tuesday, hitting $50.32. The company had a trading volume of 210,901 shares. LTC Properties has a 52 week low of $40.02 and a 52 week high of $54.20. The firm’s 50 day moving average is $51.98 and its 200 day moving average is $49.62. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 23.84 and a beta of 0.36.
LTC Properties (NYSE:LTC) last posted its earnings results on Monday, August 1st. The real estate investment trust reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. The business 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 last year, the company earned $0.67 EPS. On average, equities research analysts predict that LTC Properties will post $3.06 EPS for the current year.
A number of analysts have commented on LTC shares. 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 report on Friday, June 17th. Canaccord Genuity lifted their target price on LTC Properties from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 15th. Cantor Fitzgerald started coverage on LTC Properties in a report on Thursday, June 23rd. They issued a “buy” rating for the company. Zacks Investment Research lowered LTC Properties from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Mizuho lowered LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $53.00.
In related 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 transaction of $104,260.00. Following the transaction, the director now directly owns 36,188 shares in the company, valued at $1,886,480.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Japan Co. Ltd increased its position in LTC Properties by 1.9% in the second quarter. BlackRock Japan Co. Ltd now owns 2,017 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 37 shares during the period. Invictus RG bought a new position in LTC Properties during the second quarter valued at $154,000. WFG Advisors LP increased 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 valued at $202,000 after buying an additional 24 shares during the period. Stratos Wealth Partners LTD. bought a new position in LTC Properties during the second quarter valued at $209,000. Finally, Advisor Group Inc. bought a new position in LTC Properties during the second quarter valued at $225,000. Institutional investors own 82.89% of the company’s stock.
About LTC Properties
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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