Brokerages Set LTC Properties, Inc. (NYSE:LTC) Price Target at $38.80

Shares of LTC Properties, Inc. (NYSE:LTC) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $38.80.

A number of research firms have issued reports on LTC. Royal Bank Of Canada boosted their target price on LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Wells Fargo & Company decreased their price objective on LTC Properties from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of LTC Properties in a research note on Tuesday. Cantor Fitzgerald began coverage on shares of LTC Properties in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price target on the stock. Finally, BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price target for the company in a report on Wednesday, September 24th.

Insider Activity

In other news, Director David L. Gruber purchased 1,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $35.94 per share, for a total transaction of $35,940.00. Following the completion of the acquisition, the director directly owned 29,834 shares in the company, valued at approximately $1,072,233.96. This trade represents a 3.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LTC Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in LTC Properties by 45.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 81,624 shares of the real estate investment trust’s stock worth $2,894,000 after acquiring an additional 25,374 shares during the last quarter. Arizona State Retirement System lifted its position in shares of LTC Properties by 2.9% in the first quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 360 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in LTC Properties by 7.7% during the first quarter. New York State Common Retirement Fund now owns 39,267 shares of the real estate investment trust’s stock worth $1,392,000 after purchasing an additional 2,800 shares during the last quarter. Edgestream Partners L.P. grew its position in LTC Properties by 750.2% in the first quarter. Edgestream Partners L.P. now owns 52,805 shares of the real estate investment trust’s stock valued at $1,872,000 after purchasing an additional 46,594 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in LTC Properties in the 1st quarter valued at $202,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Trading Up 0.6%

NYSE LTC opened at $36.03 on Thursday. LTC Properties has a 12 month low of $31.70 and a 12 month high of $39.40. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06. The company has a market cap of $1.72 billion, a P/E ratio of 19.80 and a beta of 0.67. The company has a 50-day moving average of $35.59 and a 200-day moving average of $35.47.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The company had revenue of $50.05 million for the quarter, compared to analysts’ expectations of $65.94 million. During the same period last year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. As a group, equities analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The business also recently announced a dec 25 dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a yield of 615.0%. LTC Properties’s dividend payout ratio is presently 316.67%.

LTC Properties Company Profile

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.