LTC Properties (NYSE:LTC) Hits New 1-Year High – What’s Next?

LTC Properties, Inc. (NYSE:LTC)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $38.35 and last traded at $38.04, with a volume of 379196 shares. The stock had previously closed at $37.28.

Analysts Set New Price Targets

LTC has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of LTC Properties in a research report on Monday, December 29th. Cantor Fitzgerald set a $36.00 price objective on LTC Properties in a report on Monday, January 5th. Royal Bank Of Canada raised their price objective on LTC Properties from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Wells Fargo & Company lifted their target price on LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $43.00 price target on shares of LTC Properties in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.60.

LTC Properties Stock Performance

The company has a debt-to-equity ratio of 0.90, a current ratio of 8.68 and a quick ratio of 8.68. The company has a market capitalization of $1.81 billion, a PE ratio of 52.83 and a beta of 0.62. The firm’s fifty day simple moving average is $35.58 and its 200 day simple moving average is $35.66.

LTC Properties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be issued a dividend of $0.19 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Monday, March 23rd. LTC Properties’s dividend payout ratio (DPR) is 316.67%.

Insiders Place Their Bets

In related news, EVP David M. Boitano purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was bought at an average cost of $34.44 per share, with a total value of $344,400.00. Following the completion of the acquisition, the executive vice president owned 25,626 shares of the company’s stock, valued at $882,559.44. The trade was a 64.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On LTC Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in shares of LTC Properties by 4,205.5% in the 3rd quarter. American Century Companies Inc. now owns 812,235 shares of the real estate investment trust’s stock valued at $29,939,000 after purchasing an additional 793,370 shares during the period. Advisors Capital Management LLC grew its position in LTC Properties by 51.9% during the second quarter. Advisors Capital Management LLC now owns 723,003 shares of the real estate investment trust’s stock valued at $25,023,000 after buying an additional 246,919 shares during the period. Keybank National Association OH purchased a new position in LTC Properties in the third quarter valued at $7,931,000. Goldman Sachs Group Inc. raised its position in shares of LTC Properties by 177.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 323,798 shares of the real estate investment trust’s stock worth $11,132,000 after acquiring an additional 207,043 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of LTC Properties in the fourth quarter worth about $6,556,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Company Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.