LTC Properties Inc. (NYSE:LTC)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $53.49 and last traded at $53.46, with a volume of 44,030 shares changing hands. The stock had previously closed at $52.98.

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity restated a “buy” rating and issued a $49.00 price objective on shares of LTC Properties in a research note on Monday, May 2nd. Zacks Investment Research cut shares of LTC Properties from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Mizuho cut shares of LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research note on Monday, July 18th. Cantor Fitzgerald assumed coverage on shares of LTC Properties in a research note on Thursday, June 23rd. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada cut shares of LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 price objective for the company. in a research note on Friday, June 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.20.

The firm has a 50 day moving average of $50.84 and a 200-day moving average of $46.66. The stock has a market cap of $2.02 billion and a price-to-earnings ratio of 26.53.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. The firm earned $38.60 million during the quarter, compared to the consensus estimate of $31.06 million. On average, equities research analysts expect that LTC Properties Inc. will post $3.10 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Wednesday, August 31st. Investors of record on Tuesday, August 23rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 19th. This represents a $2.16 annualized dividend and a dividend yield of 4.06%.

In related news, EVP Clint B. Malin sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $49.52, for a total value of $99,040.00. Following the completion of the transaction, the executive vice president now directly owns 73,798 shares of the company’s stock, valued at $3,654,476.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position 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 in the last quarter. Nationwide Fund Advisors boosted its position 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 in the last quarter. California State Teachers Retirement System boosted its position 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 in the last quarter. California Public Employees Retirement System boosted its position 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 in the last quarter. Finally, Rhumbline Advisers boosted its position 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 in the last quarter.

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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