LTC Properties (NYSE:LTC) Hits New 12-Month High – What’s Next?

LTC Properties, Inc. (NYSE:LTC)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $38.35 and last traded at $38.04, with a volume of 379196 shares traded. The stock had previously closed at $37.28.

Analysts Set New Price Targets

Several brokerages recently commented on LTC. Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a research note on Monday, December 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 target price on shares of LTC Properties in a report on Friday, October 17th. Royal Bank Of Canada lifted their price target on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Wells Fargo & Company upped their price target on LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Finally, Cantor Fitzgerald set a $36.00 price objective on LTC Properties in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.60.

LTC Properties Trading Down 0.7%

The company has a market cap of $1.86 billion, a price-to-earnings ratio of 54.35 and a beta of 0.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 8.68 and a quick ratio of 8.68. The business’s 50-day simple moving average is $35.73 and its 200-day simple moving average is $35.71.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) annualized dividend and a yield of 5.8%. LTC Properties’s dividend payout ratio (DPR) is presently 316.67%.

Insider Buying and Selling at LTC Properties

In related news, EVP David M. Boitano acquired 10,000 shares of LTC Properties stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average cost of $34.44 per share, for a total transaction of $344,400.00. Following the completion of the transaction, the executive vice president directly owned 25,626 shares of the company’s stock, valued at $882,559.44. The trade was a 64.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of LTC Properties by 37.7% during the first quarter. Royal Bank of Canada now owns 21,344 shares of the real estate investment trust’s stock worth $757,000 after buying an additional 5,840 shares in the last quarter. AQR Capital Management LLC boosted its position in LTC Properties by 2.8% during the first quarter. AQR Capital Management LLC now owns 29,259 shares of the real estate investment trust’s stock worth $1,037,000 after acquiring an additional 806 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in LTC Properties by 6.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 22,600 shares of the real estate investment trust’s stock worth $782,000 after acquiring an additional 1,300 shares during the period. IFP Advisors Inc raised its holdings in LTC Properties by 21.2% in the 2nd quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 296 shares during the last quarter. Finally, Aberdeen Group plc raised its holdings in LTC Properties by 0.6% in the 2nd quarter. Aberdeen Group plc now owns 243,272 shares of the real estate investment trust’s stock valued at $8,420,000 after acquiring an additional 1,493 shares during the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.