LTC Properties, Inc. (NYSE:LTC) Receives $35.00 Average Price Target from Analysts

Shares of LTC Properties, Inc. (NYSE:LTCGet Rating) have earned a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $35.00.

Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Royal Bank of Canada raised shares of LTC Properties from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $34.00 to $37.00 in a research report on Monday, March 14th. Barclays started coverage on shares of LTC Properties in a research report on Tuesday, April 26th. They issued an “underweight” rating and a $30.00 target price on the stock. Credit Suisse Group upped their target price on shares of LTC Properties from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, April 1st. Finally, StockNews.com started coverage on shares of LTC Properties in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

Several institutional investors and hedge funds have recently modified their holdings of LTC. Morgan Stanley lifted its position in shares of LTC Properties by 84.1% during the second quarter. Morgan Stanley now owns 280,099 shares of the real estate investment trust’s stock worth $10,752,000 after purchasing an additional 127,927 shares in the last quarter. Raymond James & Associates increased its stake in shares of LTC Properties by 12.6% during the third quarter. Raymond James & Associates now owns 34,010 shares of the real estate investment trust’s stock worth $1,078,000 after buying an additional 3,806 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of LTC Properties by 38.8% during the third quarter. Advisor Group Holdings Inc. now owns 14,399 shares of the real estate investment trust’s stock worth $457,000 after buying an additional 4,022 shares during the period. Swiss National Bank increased its stake in shares of LTC Properties by 0.7% during the third quarter. Swiss National Bank now owns 87,062 shares of the real estate investment trust’s stock worth $2,759,000 after buying an additional 600 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of LTC Properties by 10.6% during the third quarter. Mackenzie Financial Corp now owns 8,996 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 861 shares during the period. 72.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of LTC stock opened at $37.28 on Wednesday. The company’s 50-day moving average price is $36.32 and its 200-day moving average price is $34.94. The company has a current ratio of 15.55, a quick ratio of 15.55 and a debt-to-equity ratio of 1.03. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 26.25 and a beta of 0.97. LTC Properties has a twelve month low of $31.36 and a twelve month high of $40.58.

LTC Properties (NYSE:LTCGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.26). The firm had revenue of $40.80 million for the quarter, compared to analyst estimates of $37.08 million. LTC Properties had a net margin of 36.03% and a return on equity of 7.48%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. As a group, equities research analysts predict that LTC Properties will post 2.54 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 22nd will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, June 21st. This represents a $2.28 annualized dividend and a dividend yield of 6.12%. LTC Properties’s dividend payout ratio is presently 160.56%.

LTC Properties Company Profile (Get Rating)

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds 181 investments in 27 states with 29 operating partners.

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