LTC Properties, Inc. (NYSE:LTC) Receives $35.33 Consensus Price Target from Analysts

LTC Properties, Inc. (NYSE:LTC) has earned a consensus recommendation of “Reduce” from the four analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $35.33.

Several equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of LTC Properties in a research note on Thursday, August 17th. They set a “hold” rating for the company. TheStreet downgraded shares of LTC Properties from a “b-” rating to a “c” rating in a research report on Friday, July 28th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $32.00 target price on shares of LTC Properties in a research report on Thursday, August 17th.

Insider Activity

In other news, Director Timothy Triche sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $33.03, for a total value of $198,180.00. Following the completion of the sale, the director now directly owns 39,425 shares in the company, valued at $1,302,207.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd lifted its stake in LTC Properties by 45.8% during the first quarter. WINTON GROUP Ltd now owns 16,388 shares of the real estate investment trust’s stock worth $576,000 after purchasing an additional 5,146 shares in the last quarter. CWM LLC lifted its stake in LTC Properties by 1.9% during the first quarter. CWM LLC now owns 35,765 shares of the real estate investment trust’s stock worth $1,256,000 after purchasing an additional 657 shares in the last quarter. Martingale Asset Management L P lifted its stake in LTC Properties by 3.2% during the fourth quarter. Martingale Asset Management L P now owns 10,227 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 321 shares in the last quarter. Cambria Investment Management L.P. lifted its stake in LTC Properties by 16.7% during the first quarter. Cambria Investment Management L.P. now owns 8,169 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in LTC Properties by 10.4% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,123 shares of the real estate investment trust’s stock worth $812,000 after purchasing an additional 2,181 shares in the last quarter. 70.28% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Trading Up 0.3 %

NYSE:LTC opened at $31.96 on Tuesday. LTC Properties has a 12 month low of $30.87 and a 12 month high of $42.19. The firm has a fifty day simple moving average of $33.25 and a 200-day simple moving average of $33.42. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1.32 billion, a P/E ratio of 18.69 and a beta of 0.93.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 21st will be given a $0.19 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.13%. LTC Properties’s dividend payout ratio (DPR) is presently 133.33%.

LTC Properties Company Profile

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's investment portfolio includes 213 properties in 29 states with 29 operating partners.