Shares of LTC Properties, Inc. (NYSE:LTC) have received a consensus rating of “Hold” from the eleven brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $43.00.
A number of brokerages have recently issued reports on LTC. ValuEngine downgraded LTC Properties from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. TheStreet downgraded LTC Properties from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Cantor Fitzgerald reiterated a “buy” rating and issued a $45.00 price target on shares of LTC Properties in a report on Thursday, May 10th. BMO Capital Markets set a $39.00 price target on LTC Properties and gave the company a “sell” rating in a report on Monday, March 26th. Finally, Stifel Nicolaus set a $40.00 price target on LTC Properties and gave the company a “hold” rating in a report on Thursday, March 1st.
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Shares of LTC Properties opened at $39.14 on Thursday, Marketbeat reports. LTC Properties has a 12-month low of $38.96 and a 12-month high of $39.29. The firm has a market capitalization of $1.56 billion, a PE ratio of 12.63, a P/E/G ratio of 3.27 and a beta of 0.10. The company has a current ratio of 9.69, a quick ratio of 9.69 and a debt-to-equity ratio of 0.91.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Wednesday, May 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). LTC Properties had a net margin of 51.43% and a return on equity of 11.36%. The company had revenue of $41.81 million during the quarter, compared to analysts’ expectations of $34.17 million. During the same quarter in the prior year, the business posted $0.54 earnings per share. equities research analysts forecast that LTC Properties will post 3.02 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, June 21st will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, June 20th. This represents a $2.28 annualized dividend and a yield of 5.83%. LTC Properties’s dividend payout ratio (DPR) is 73.55%.
A number of hedge funds have recently made changes to their positions in the stock. Texas Yale Capital Corp. grew its stake in LTC Properties by 27.0% during the 4th quarter. Texas Yale Capital Corp. now owns 7,173 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 1,527 shares during the last quarter. Strs Ohio grew its stake in LTC Properties by 2.8% during the 4th quarter. Strs Ohio now owns 62,436 shares of the real estate investment trust’s stock worth $2,719,000 after buying an additional 1,698 shares during the last quarter. LPL Financial LLC grew its stake in LTC Properties by 3.9% during the 1st quarter. LPL Financial LLC now owns 45,798 shares of the real estate investment trust’s stock worth $1,740,000 after buying an additional 1,723 shares during the last quarter. Profund Advisors LLC grew its stake in LTC Properties by 32.0% during the 1st quarter. Profund Advisors LLC now owns 7,728 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 1,873 shares during the last quarter. Finally, QS Investors LLC grew its stake in LTC Properties by 9.4% during the 4th quarter. QS Investors LLC now owns 24,040 shares of the real estate investment trust’s stock worth $1,047,000 after buying an additional 2,059 shares during the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
About LTC Properties
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At December 31, 2017, LTC had 202 investments located in 29 states comprising 105 assisted living communities, 96 skilled nursing centers and 1 behavioral health care hospital.