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

LTC Properties, Inc. (NYSE:LTC) has earned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $34.13.

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $34.00 target price for the company.

Insider Buying and Selling at LTC Properties

In other news, Director Timothy Triche sold 3,082 shares of LTC Properties stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $97,606.94. Following the sale, the director now owns 36,343 shares in the company, valued at $1,150,982.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LTC Properties

A number of hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in shares of LTC Properties by 27.2% during the first quarter. State Street Corp now owns 3,533,890 shares of the real estate investment trust’s stock worth $135,949,000 after buying an additional 755,055 shares during the period. Norges Bank acquired a new stake in LTC Properties during the 4th quarter worth approximately $14,137,000. Wellington Management Group LLP purchased a new position in shares of LTC Properties in the 1st quarter valued at approximately $10,505,000. Weiss Multi Strategy Advisers LLC acquired a new position in shares of LTC Properties in the first quarter valued at approximately $9,948,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of LTC Properties by 1,438.1% during the first quarter. Envestnet Asset Management Inc. now owns 219,251 shares of the real estate investment trust’s stock worth $447,000 after purchasing an additional 204,996 shares during the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Stock Down 1.0 %

Shares of LTC Properties stock opened at $31.62 on Friday. LTC Properties has a 52-week low of $30.30 and a 52-week high of $35.72. The company has a 50 day moving average of $31.81 and a 200 day moving average of $32.09. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $1.36 billion, a P/E ratio of 14.64 and a beta of 0.87.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be given a $0.19 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.28 dividend on an annualized basis and a yield of 7.21%. LTC Properties’s dividend payout ratio (DPR) is presently 105.56%.

About LTC Properties

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 201 properties in 26 states with 29 operating partners.