LTC Properties, Inc. (NYSE:LTC) Receives Consensus Recommendation of “Hold” from Brokerages

LTC Properties, Inc. (NYSE:LTCGet Rating) has earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $40.14.

Several analysts have recently weighed in on the company. Royal Bank of Canada reduced their target price on LTC Properties from $44.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, November 7th. BMO Capital Markets downgraded LTC Properties from a “market perform” rating to an “underperform” rating and set a $38.00 price objective for the company. in a research note on Friday, December 16th. Finally, StockNews.com downgraded LTC Properties from a “buy” rating to a “hold” rating in a research note on Friday, October 7th.

LTC Properties Stock Down 1.8 %

LTC Properties stock opened at $37.11 on Monday. LTC Properties has a fifty-two week low of $32.23 and a fifty-two week high of $45.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 15.57 and a current ratio of 15.57. The company has a market capitalization of $1.50 billion, a P/E ratio of 15.72 and a beta of 0.92. The stock has a 50-day simple moving average of $37.61 and a 200-day simple moving average of $39.54.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 23rd will be paid a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Wednesday, March 22nd. LTC Properties’s dividend payout ratio (DPR) is 96.61%.

Insider Transactions at LTC Properties

In other news, CAO Caroline Chikhale sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $39.46, for a total transaction of $197,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,338 shares of the company’s stock, valued at approximately $1,552,277.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On LTC Properties

Institutional investors and hedge funds have recently modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of LTC Properties in the 2nd quarter worth approximately $2,752,000. Private Trust Co. NA grew its holdings in LTC Properties by 585.2% during the 3rd quarter. Private Trust Co. NA now owns 740 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 632 shares during the last quarter. SRS Capital Advisors Inc. acquired a new stake in LTC Properties during the 3rd quarter valued at $39,000. Quadrant Capital Group LLC grew its holdings in LTC Properties by 282.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,047 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 773 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in LTC Properties during the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 72.68% of the company’s stock.

About LTC Properties

(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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