LTC Properties Inc (NYSE:LTC) Receives $37.60 Consensus Target Price from Analysts

Shares of LTC Properties Inc (NYSE:LTC) have received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $40.17.

A number of analysts have recently weighed in on LTC shares. Credit Suisse Group started coverage on LTC Properties in a research note on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 target price for the company. Zacks Investment Research lowered H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday.

In other news, Director Timothy Triche sold 2,800 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $46.15, for a total value of $129,220.00. Following the completion of the sale, the director now directly owns 36,362 shares in the company, valued at $1,678,106.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LTC. Norges Bank bought a new position in LTC Properties in the fourth quarter valued at about $21,421,000. Northern Trust Corp boosted its holdings in LTC Properties by 31.5% in the fourth quarter. Northern Trust Corp now owns 936,253 shares of the real estate investment trust’s stock valued at $39,024,000 after acquiring an additional 224,162 shares during the last quarter. Nuveen Asset Management LLC bought a new position in LTC Properties during the fourth quarter worth about $5,678,000. Deutsche Bank AG boosted its holdings in LTC Properties by 111.5% during the fourth quarter. Deutsche Bank AG now owns 176,776 shares of the real estate investment trust’s stock worth $7,366,000 after buying an additional 93,195 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in LTC Properties by 1,596.9% during the first quarter. PNC Financial Services Group Inc. now owns 91,393 shares of the real estate investment trust’s stock worth $4,186,000 after buying an additional 86,007 shares during the last quarter. Institutional investors and hedge funds own 76.02% of the company’s stock.

LTC Properties stock traded down $0.78 during mid-day trading on Tuesday, hitting $46.64. 215,519 shares of the company were exchanged, compared to its average volume of 242,250. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.41 and a quick ratio of 10.41. The business has a fifty day moving average of $46.02. LTC Properties has a 1-year low of $40.11 and a 1-year high of $48.13. The company has a market capitalization of $1.85 billion, a P/E ratio of 15.24, a PEG ratio of 3.85 and a beta of 0.44.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.23). LTC Properties had a return on equity of 19.07% and a net margin of 95.25%. The company had revenue of $28.02 million for the quarter, compared to analyst estimates of $33.02 million. Research analysts anticipate that LTC Properties will post 3.03 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 23rd will be paid a $0.19 dividend. The ex-dividend date is Monday, July 22nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.89%. LTC Properties’s dividend payout ratio (DPR) is presently 74.51%.

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 holds more than 200 investments in 28 states with 30 operating partners.

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Analyst Recommendations for LTC Properties (NYSE:LTC)

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