LTC Properties, Inc. (NYSE:LTC – Get Rating) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $40.14.
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LTC has been the topic of several research analyst reports. StockNews.com initiated coverage on LTC Properties in a research note on Thursday, March 16th. They set a “hold” rating on the stock. BMO Capital Markets downgraded LTC Properties from a “market perform” rating to an “underperform” rating and set a $38.00 target price on the stock. in a research note on Friday, December 16th. Finally, Royal Bank of Canada boosted their target price on LTC Properties from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st.
Hedge Funds Weigh In On LTC Properties
Several institutional investors and hedge funds have recently modified their holdings of LTC. American Century Companies Inc. lifted its holdings in shares of LTC Properties by 10.5% in the 1st quarter. American Century Companies Inc. now owns 12,341 shares of the real estate investment trust’s stock valued at $475,000 after buying an additional 1,174 shares during the period. Cetera Advisor Networks LLC purchased a new position in shares of LTC Properties in the 1st quarter valued at about $247,000. PNC Financial Services Group Inc. increased its stake in shares of LTC Properties by 32.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,152 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 1,016 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of LTC Properties by 35.7% in the 1st quarter. MetLife Investment Management LLC now owns 20,498 shares of the real estate investment trust’s stock valued at $789,000 after purchasing an additional 5,390 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of LTC Properties by 2.7% in the 1st quarter. Rhumbline Advisers now owns 121,285 shares of the real estate investment trust’s stock valued at $4,666,000 after purchasing an additional 3,154 shares in the last quarter. Institutional investors and hedge funds own 72.68% of the company’s stock.
LTC Properties Stock Up 1.6 %
Shares of LTC stock opened at $33.74 on Tuesday. LTC Properties has a 1-year low of $32.23 and a 1-year high of $45.49. The stock’s fifty day moving average price is $36.50 and its 200 day moving average price is $37.87. The company has a debt-to-equity ratio of 0.90, a current ratio of 13.87 and a quick ratio of 13.87. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 13.60 and a beta of 0.95.
LTC Properties Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 23rd will be issued a $0.19 dividend. The ex-dividend date is Wednesday, March 22nd. This represents a $2.28 annualized dividend and a dividend yield of 6.76%. LTC Properties’s dividend payout ratio (DPR) is presently 91.94%.
LTC Properties Company Profile
LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.
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Source: marketbeat.com
