Several other research firms also recently weighed in on LTC. Zacks Investment Research downgraded shares of LTC Properties from a hold rating to a sell rating in a research note on Tuesday, August 1st. BidaskClub raised shares of LTC Properties from a hold rating to a buy rating in a research note on Wednesday, June 28th. Mizuho reaffirmed a neutral rating on shares of LTC Properties in a research note on Wednesday, June 28th. Royal Bank Of Canada reaffirmed a hold rating and set a $50.00 price objective on shares of LTC Properties in a research note on Tuesday, June 27th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $50.00 price objective on shares of LTC Properties in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. LTC Properties presently has an average rating of Hold and an average price target of $50.50.
LTC Properties (NYSE:LTC) traded up 0.19% during mid-day trading on Tuesday, reaching $47.34. The company had a trading volume of 188,431 shares. LTC Properties has a 12-month low of $43.17 and a 12-month high of $52.85. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 20.81 and a beta of 0.16. The firm has a 50-day moving average price of $47.61 and a 200 day moving average price of $48.84.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $42.47 million during the quarter, compared to the consensus estimate of $35.08 million. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. Analysts expect that LTC Properties will post $2.18 EPS for the current year.
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The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 22nd will be issued a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Tuesday, November 21st. LTC Properties’s dividend payout ratio (DPR) is presently 100.00%.
A number of institutional investors and hedge funds have recently made changes to their positions in LTC. PNC Financial Services Group Inc. grew its holdings in LTC Properties by 12.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 231 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in LTC Properties in the first quarter worth about $156,000. Riverhead Capital Management LLC grew its holdings in LTC Properties by 91.5% in the second quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 1,464 shares during the period. Daiwa Securities Group Inc. grew its holdings in LTC Properties by 9.4% in the second quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 300 shares during the period. Finally, Neuberger Berman Group LLC purchased a new stake in LTC Properties in the second quarter worth about $202,000. Institutional investors and hedge funds own 81.14% of the company’s stock.
About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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