LTC Properties (NYSE:LTC) Shares Pass Above 200 Day Moving Average of $35.65

LTC Properties, Inc. (NYSE:LTCGet Rating)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.65 and traded as high as $37.48. LTC Properties shares last traded at $37.18, with a volume of 5,635 shares traded.

A number of analysts have recently weighed in on the stock. Credit Suisse Group upped their price target on shares of LTC Properties from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, April 1st. StockNews.com assumed coverage on shares of LTC Properties in a report on Thursday, March 31st. They set a “hold” rating for the company. Barclays assumed coverage on shares of LTC Properties in a report on Tuesday, April 26th. They set an “underweight” rating and a $30.00 price target for the company. Capital One Financial began coverage on shares of LTC Properties in a report on Friday, June 3rd. They set an “equal weight” rating and a $41.00 price target for the company. Finally, Royal Bank of Canada upgraded shares of LTC Properties from an “underperform” rating to a “sector perform” rating and upped their price objective for the stock from $34.00 to $37.00 in a research report on Monday, March 14th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.50.

The stock’s 50-day moving average is $36.62 and its 200-day moving average is $35.65. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 26.18 and a beta of 0.95. The company has a current ratio of 15.55, a quick ratio of 15.55 and a debt-to-equity ratio of 1.03.

LTC Properties (NYSE:LTCGet Rating) last released its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.26). The company had revenue of $40.80 million for the quarter, compared to analyst estimates of $37.08 million. LTC Properties had a return on equity of 7.48% and a net margin of 36.03%. LTC Properties’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. On average, equities research analysts anticipate that LTC Properties, Inc. will post 2.55 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 22nd will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 6.13%. The ex-dividend date of this dividend is Tuesday, June 21st. LTC Properties’s dividend payout ratio (DPR) is currently 160.56%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its position in LTC Properties by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 16,419 shares of the real estate investment trust’s stock valued at $561,000 after acquiring an additional 297 shares during the period. Gradient Investments LLC increased its position in LTC Properties by 6.0% in the 4th quarter. Gradient Investments LLC now owns 5,723 shares of the real estate investment trust’s stock valued at $195,000 after acquiring an additional 325 shares during the period. Maryland State Retirement & Pension System increased its position in LTC Properties by 2.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 15,926 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 347 shares during the period. Nomura Asset Management Co. Ltd. increased its position in LTC Properties by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,870 shares of the real estate investment trust’s stock valued at $1,088,000 after acquiring an additional 400 shares during the period. Finally, Comerica Bank increased its position in LTC Properties by 1.3% in the 1st quarter. Comerica Bank now owns 35,456 shares of the real estate investment trust’s stock valued at $1,297,000 after acquiring an additional 455 shares during the period. Hedge funds and other institutional investors own 72.14% of the company’s stock.

LTC Properties Company Profile (NYSE:LTC)

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds 181 investments in 27 states with 29 operating partners.

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