LTC Properties Inc. (LTC) Stock Price Down 2.2%
Shares of LTC Properties Inc. (NYSE:LTC) dropped 2.2% during mid-day trading on Wednesday . The stock traded as low as $51.64 and last traded at $51.72, with a volume of 125,658 shares. The stock had previously closed at $52.87.
LTC has been the subject of several recent analyst reports. Hilliard Lyons downgraded LTC Properties from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. Zacks Investment Research cut LTC Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Royal Bank Of Canada cut LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 price objective for the company. in a research report on Friday, June 17th. Cantor Fitzgerald initiated coverage on LTC Properties in a research report on Thursday, June 23rd. They set a “buy” rating for the company. Finally, Mizuho cut LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.20.
The stock has a market capitalization of $1.96 billion and a PE ratio of 25.78. The company’s 50-day moving average is $51.81 and its 200-day moving average is $47.22.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The firm earned $40 million during the quarter, compared to analyst estimates of $33.66 million. During the same period in the prior year, the business earned $0.67 EPS. Equities analysts expect that LTC Properties Inc. will post $3.10 earnings per share for the current year.
The company 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 dividend yield of 4.17%. The ex-dividend date 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 sale, the executive vice president now owns 73,798 shares of the company’s stock, valued at approximately $3,654,476.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several hedge funds have recently added to or reduced their stakes in LTC. Nationwide Fund Advisors increased 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 in the last quarter. Principal Financial Group Inc. increased its stake in 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 valued at $10,502,000 after buying an additional 13,268 shares in the last quarter. Schroder Investment Management Group increased its stake in 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 valued at $4,961,000 after buying an additional 112,241 shares in the last quarter. GSA Capital Partners LLP increased 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 in the last quarter. Finally, Rhumbline Advisers increased 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 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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