LTC Properties (NYSE:LTC) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of LTC Properties (NYSE:LTCGet Rating) from a hold rating to a buy rating in a research report report published on Monday morning.

A number of other research analysts also recently commented on LTC. Barclays increased their price objective on shares of LTC Properties from $30.00 to $35.00 and gave the company an underweight rating in a research note on Monday. Berenberg Bank upgraded shares of LTC Properties from a hold rating to a buy rating and increased their price objective for the company from $34.00 to $47.00 in a research note on Monday. BMO Capital Markets upgraded shares of LTC Properties from an underperform rating to a market perform rating and increased their price objective for the company from $37.00 to $40.00 in a research note on Tuesday, June 21st. KeyCorp increased their price objective on shares of LTC Properties from $40.00 to $42.00 and gave the company an overweight rating in a research note on Thursday, July 7th. Finally, Capital One Financial assumed coverage on shares of LTC Properties in a research note on Friday, June 3rd. They set an equal weight rating and a $41.00 price objective on the stock. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $40.00.

LTC Properties Trading Up 3.1 %

NYSE LTC opened at $43.21 on Monday. LTC Properties has a 12 month low of $31.36 and a 12 month high of $43.38. The company has a debt-to-equity ratio of 0.91, a current ratio of 15.51 and a quick ratio of 15.51. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 18.63 and a beta of 0.91. The company’s fifty day moving average price is $38.79 and its two-hundred day moving average price is $36.73.

LTC Properties Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 22nd will be issued a $0.19 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.28%. LTC Properties’s dividend payout ratio (DPR) is presently 98.28%.

Institutional Trading of LTC Properties

A number of large investors have recently modified their holdings of LTC. Russell Investments Group Ltd. acquired a new stake in shares of LTC Properties in the 4th quarter worth about $419,000. Van ECK Associates Corp increased its holdings in shares of LTC Properties by 66.9% in the 4th quarter. Van ECK Associates Corp now owns 3,030 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 1,215 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of LTC Properties in the 4th quarter worth about $792,000. State of New Jersey Common Pension Fund D increased its holdings in shares of LTC Properties by 7.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 82,028 shares of the real estate investment trust’s stock worth $2,800,000 after acquiring an additional 5,381 shares during the period. Finally, Yousif Capital Management LLC acquired a new stake in shares of LTC Properties in the 4th quarter worth about $1,212,000. Institutional investors and hedge funds own 72.14% of the company’s stock.

LTC Properties Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for LTC Properties (NYSE:LTC)

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