LTC Properties Inc. (LTC) Increases Dividend to $0.19 Per Share
LTC Properties Inc. (NYSE:LTC) declared a monthly dividend on Tuesday, October 4th. Investors of record on Thursday, December 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, December 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 Tuesday, December 20th. This is a boost from LTC Properties’s previous monthly dividend of $0.18.
LTC Properties (NYSE:LTC) traded down 1.70% during trading on Tuesday, hitting $50.32. The company had a trading volume of 210,901 shares. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 23.84 and a beta of 0.36. The company’s 50 day moving average price is $51.98 and its 200-day moving average price is $49.62. LTC Properties has a 1-year low of $40.02 and a 1-year high of $54.20.
LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. LTC Properties had a return on equity of 11.83% and a net margin of 52.62%. The company earned $40 million during the quarter, compared to analyst estimates of $33.66 million. During the same quarter last year, the company earned $0.67 EPS. On average, analysts expect that LTC Properties will post $3.06 EPS for the current year.
LTC has been the subject of a number of research analyst reports. 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 initiated 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. LTC Properties currently 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 the firm’s 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 transaction, the director now directly owns 36,188 shares in the company, valued at approximately $1,886,480.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.70% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. increased 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 valued at $10,179,000 after buying an additional 3,847 shares during the period. Credit Suisse AG increased 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 valued at $6,363,000 after buying an additional 33,895 shares during the period. 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. Martingale Asset Management L P bought a new position in LTC Properties during the second quarter valued at $611,000. Finally, Fifth Third Bancorp increased 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 valued at $2,612,000 after buying an additional 14,961 shares during the period. 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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