LTC Properties (NYSE:LTC) Sets New 12-Month High – Here’s What Happened

LTC Properties, Inc. (NYSE:LTC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $38.18 and last traded at $37.7950, with a volume of 589806 shares traded. The stock had previously closed at $36.68.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LTC shares. Royal Bank Of Canada increased their price target on LTC Properties from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Cantor Fitzgerald set a $36.00 target price on LTC Properties in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of LTC Properties in a report on Monday, December 29th. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price objective on shares of LTC Properties in a research note on Friday, October 17th. Finally, Wells Fargo & Company raised their target price on shares of LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.60.

LTC Properties Stock Down 0.8%

The stock has a fifty day moving average price of $35.51 and a 200-day moving average price of $35.62. The firm has a market cap of $1.78 billion, a PE ratio of 52.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.90, a quick ratio of 8.68 and a current ratio of 8.68.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. LTC Properties had a net margin of 14.58% and a return on equity of 3.22%. The firm had revenue of $50.05 million for the quarter, compared to analysts’ expectations of $65.94 million. During the same period in the previous year, the company posted $0.78 earnings per share. LTC Properties’s revenue was up 24.2% compared to the same quarter last year. Research analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be issued a $0.19 dividend. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, March 23rd. LTC Properties’s dividend payout ratio is currently 316.67%.

Insider Activity at LTC Properties

In related news, EVP David M. Boitano bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of $34.44 per share, with a total value of $344,400.00. Following the completion of the transaction, the executive vice president directly owned 25,626 shares of the company’s stock, valued at approximately $882,559.44. This represents a 64.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LTC Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maryland State Retirement & Pension System raised its stake in shares of LTC Properties by 2.1% during the second quarter. Maryland State Retirement & Pension System now owns 13,498 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 283 shares during the period. GAMMA Investing LLC increased its stake in LTC Properties by 10.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,999 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 288 shares during the period. ProShare Advisors LLC boosted its position in LTC Properties by 3.4% in the 4th quarter. ProShare Advisors LLC now owns 8,874 shares of the real estate investment trust’s stock valued at $305,000 after buying an additional 291 shares during the last quarter. IFP Advisors Inc grew its stake in shares of LTC Properties by 21.2% during the second quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 296 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of LTC Properties by 75.0% during the third quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.