Shares of LTC Properties Inc. (NYSE:LTC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.22 and last traded at $52.80, with a volume of 116,921 shares traded. The stock had previously closed at $53.04.

Several analysts have recently issued reports on LTC shares. Royal Bank Of Canada cut shares of LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 price target on the stock. in a research report on Friday, June 17th. Hilliard Lyons cut shares of LTC Properties from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. Cantor Fitzgerald started coverage on shares of LTC Properties in a research report on Thursday, June 23rd. They set a “buy” rating on the stock. Canaccord Genuity reissued a “buy” rating and set a $49.00 price target on shares of LTC Properties in a research report on Monday, May 2nd. Finally, Zacks Investment Research raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $50.40.

The firm has a 50 day moving average price of $49.29 and a 200-day moving average price of $46.12. The stock has a market cap of $2.01 billion and a PE ratio of 26.36.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, beating the consensus estimate of $0.75 by $0.01. The business earned $38.60 million during the quarter, compared to analysts’ expectations of $31.06 million. Equities research analysts predict that LTC Properties Inc. will post $3.10 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 23rd will be issued a $0.18 dividend. This represents a $2.16 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, August 19th.

In other LTC Properties news, EVP Clint B. Malin sold 2,000 shares of LTC Properties stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $49.52, for a total value of $99,040.00. Following the completion of the sale, the executive vice president now owns 73,798 shares in the company, valued at approximately $3,654,476.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

A number of hedge funds have bought and sold shares of the stock. GSA Capital Partners LLP boosted its stake in LTC Properties by 98.2% in the fourth quarter. GSA Capital Partners LLP now owns 27,040 shares of the real estate investment trust’s stock valued at $1,167,000 after buying an additional 13,400 shares during the period. Nationwide Fund Advisors boosted its stake in LTC Properties by 0.3% in the fourth quarter. Nationwide Fund Advisors now owns 39,363 shares of the real estate investment trust’s stock valued at $1,698,000 after buying an additional 115 shares during the period. California State Teachers Retirement System boosted its stake in LTC Properties by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 65,844 shares of the real estate investment trust’s stock valued at $2,841,000 after buying an additional 1,033 shares during the period. California Public Employees Retirement System boosted its stake in LTC Properties by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 74,399 shares of the real estate investment trust’s stock valued at $3,210,000 after buying an additional 700 shares during the period. Finally, Rhumbline Advisers boosted its stake in LTC Properties by 2.4% in the fourth quarter. Rhumbline Advisers now owns 80,297 shares of the real estate investment trust’s stock valued at $3,464,000 after buying an additional 1,845 shares during the period.

LTC Properties Inc is a health care real estate investment trust (REIT). The Company primarily invests in senior housing and long term care properties through acquisitions, development, mortgage loans and other investments. The Company’s primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.

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