LTC Properties (NYSE:LTC) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of LTC Properties (NYSE:LTCGet Rating) from a buy rating to a hold rating in a research note issued to investors on Friday.

LTC has been the subject of several other research reports. KeyCorp boosted their price target on LTC Properties from $40.00 to $42.00 and gave the company an overweight rating in a research note on Thursday, July 7th. Berenberg Bank raised LTC Properties from a hold rating to a buy rating and boosted their price target for the company from $34.00 to $47.00 in a research note on Monday, August 1st. Royal Bank of Canada upped their target price on LTC Properties from $39.00 to $44.00 in a research report on Monday, August 22nd. Barclays upped their target price on LTC Properties to $35.00 in a research report on Tuesday, August 9th. Finally, BMO Capital Markets raised LTC Properties from an underperform rating to a market perform rating and upped their target price for the stock from $37.00 to $40.00 in a research report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LTC Properties presently has an average rating of Hold and an average target price of $41.00.

LTC Properties Price Performance

Shares of LTC opened at $42.16 on Friday. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 18.17 and a beta of 0.87. The business’s 50-day moving average is $42.62 and its 200-day moving average is $38.90. LTC Properties has a fifty-two week low of $31.36 and a fifty-two week high of $45.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 15.51 and a quick ratio of 15.51.

LTC Properties Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 22nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.41%. LTC Properties’s payout ratio is 98.28%.

Insider Activity at LTC Properties

In related news, Director Timothy Triche sold 1,100 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $43.48, for a total value of $47,828.00. Following the completion of the transaction, the director now directly owns 42,413 shares in the company, valued at $1,844,117.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in LTC Properties during the first quarter worth $36,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of LTC Properties during the first quarter worth $38,000. Point72 Hong Kong Ltd bought a new stake in shares of LTC Properties during the second quarter worth $41,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of LTC Properties by 60.1% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,258 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 472 shares during the last quarter. Finally, Private Capital Group LLC grew its holdings in shares of LTC Properties by 37.9% during the second quarter. Private Capital Group LLC now owns 1,583 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 435 shares during the last quarter. 73.12% of the stock is currently owned by institutional investors and hedge funds.

LTC Properties Company Profile

(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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