LTC Properties’ (LTC) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of LTC Properties (NYSE:LTC) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $36.00 price objective on the real estate investment trust’s stock.

Separately, Wells Fargo & Company reduced their price objective on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, LTC Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

LTC Properties Trading Up 0.3%

LTC opened at $36.10 on Monday. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties has a 52 week low of $31.70 and a 52 week high of $39.89. The business’s 50 day moving average is $35.17 and its two-hundred day moving average is $35.61. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 15.49 and a beta of 0.68.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $49.03 million during the quarter, compared to analysts’ expectations of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. On average, research analysts predict that LTC Properties will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend is Friday, June 20th. LTC Properties’s payout ratio is 117.53%.

Hedge Funds Weigh In On LTC Properties

A number of large investors have recently modified their holdings of the business. Strategic Financial Concepts LLC grew its holdings in LTC Properties by 3,358.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust’s stock worth $22,735,000 after acquiring an additional 638,999 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of LTC Properties during the 1st quarter worth $9,358,000. Marshall Wace LLP grew its stake in shares of LTC Properties by 37.3% during the 4th quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust’s stock worth $19,082,000 after purchasing an additional 150,023 shares during the period. Norges Bank purchased a new position in shares of LTC Properties in the 4th quarter valued at about $5,000,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of LTC Properties by 15.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust’s stock valued at $33,653,000 after purchasing an additional 126,598 shares in the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

About LTC Properties

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.