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

LTC Properties, Inc. (NYSE:LTCGet Rating) has been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $36.50.

LTC has been the topic of several recent analyst reports. Royal Bank of Canada raised LTC Properties from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $34.00 to $37.00 in a research note on Monday, March 14th. StockNews.com initiated coverage on LTC Properties in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Capital One Financial initiated coverage on LTC Properties in a research note on Friday, June 3rd. They issued an “equal weight” rating and a $41.00 price target on the stock. Barclays initiated coverage on LTC Properties in a research note on Tuesday, April 26th. They issued an “underweight” rating and a $30.00 price target on the stock. Finally, Credit Suisse Group boosted their price target on LTC Properties from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, April 1st.

Shares of LTC stock opened at $38.58 on Friday. The business’s 50 day simple moving average is $36.68 and its 200 day simple moving average is $35.43. LTC Properties has a one year low of $31.36 and a one year high of $40.33. The stock has a market capitalization of $1.52 billion, a PE ratio of 27.17 and a beta of 0.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 15.55 and a quick ratio of 15.55.

LTC Properties (NYSE:LTCGet Rating) last announced its earnings results on Thursday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.26). LTC Properties had a net margin of 36.03% and a return on equity of 7.48%. The company had revenue of $40.80 million during the quarter, compared to the consensus estimate of $37.08 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts expect that LTC Properties will post 2.55 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 22nd will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Tuesday, June 21st. LTC Properties’s payout ratio is 160.56%.

Several large investors have recently modified their holdings of LTC. Morgan Stanley raised its position in shares of LTC Properties by 84.1% during the second quarter. Morgan Stanley now owns 280,099 shares of the real estate investment trust’s stock worth $10,752,000 after purchasing an additional 127,927 shares during the period. Geode Capital Management LLC raised its position in shares of LTC Properties by 0.4% during the third quarter. Geode Capital Management LLC now owns 785,075 shares of the real estate investment trust’s stock worth $24,879,000 after purchasing an additional 3,029 shares during the period. GSA Capital Partners LLP purchased a new stake in LTC Properties in the 3rd quarter valued at $256,000. Franklin Resources Inc. purchased a new stake in LTC Properties in the 3rd quarter valued at $578,000. Finally, Dimensional Fund Advisors LP raised its position in LTC Properties by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 591,266 shares of the real estate investment trust’s stock valued at $18,738,000 after buying an additional 3,326 shares during the last quarter. 72.14% of the stock is currently owned by institutional investors.

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.

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