LTC Properties Inc. (NYSE:LTC)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $54.00 and last traded at $53.62, with a volume of 84,445 shares. The stock had previously closed at $53.21.

A number of research firms have recently commented on LTC. Canaccord Genuity restated a “buy” rating and set a $49.00 price objective on shares of LTC Properties in a research note on Monday, May 2nd. Zacks Investment Research downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Mizuho downgraded 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 began coverage on shares of LTC Properties in a research note on Thursday, June 23rd. They set 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 target price on the stock. in a report on Friday, June 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $51.20.

The company has a market cap of $2.03 billion and a PE ratio of 26.67. The firm’s 50-day moving average is $51.53 and its 200-day moving average is $46.99.

The business also recently declared a monthly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 23rd will be paid a $0.18 dividend. This represents a $2.16 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, August 19th.

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

Several hedge funds and institutional investors have modified their holdings of LTC. Schroder Investment Management Group boosted its position in shares of LTC Properties by 4,068.2% in the fourth quarter. Schroder Investment Management Group now owns 115,000 shares of the real estate investment trust’s stock worth $4,961,000 after buying an additional 112,241 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of LTC Properties by 5.8% in the fourth quarter. Principal Financial Group Inc. now owns 243,438 shares of the real estate investment trust’s stock worth $10,502,000 after buying an additional 13,268 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of 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 worth $1,167,000 after buying an additional 13,400 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of 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 worth $3,210,000 after buying an additional 700 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of LTC Properties by 2.4% in the fourth quarter. Rhumbline Advisers now owns 80,297 shares of the real estate investment trust’s stock worth $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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