A number of other equities analysts also recently commented on LTC. Cantor Fitzgerald restated an overweight rating on shares of LTC Properties in a research note on Wednesday, May 16th. Zacks Investment Research raised LTC Properties from a sell rating to a hold rating in a report on Friday, May 18th. Royal Bank of Canada cut LTC Properties from a sector perform rating to an underperform rating in a report on Friday, June 1st. ValuEngine cut LTC Properties from a hold rating to a sell rating in a report on Wednesday, May 2nd. Finally, Mizuho cut their price target on LTC Properties from $51.00 to $41.00 and set a neutral rating on the stock in a report on Monday, March 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $42.86.
Shares of LTC Properties opened at $42.74 on Thursday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.91, a current ratio of 9.69 and a quick ratio of 9.69. LTC Properties has a 52 week low of $34.46 and a 52 week high of $52.85. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 3.56 and a beta of 0.16.
LTC Properties (NYSE:LTC) last issued its earnings results on Wednesday, May 9th. The real estate investment trust reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). LTC Properties had a net margin of 51.43% and a return on equity of 11.36%. The company had revenue of $41.81 million during the quarter, compared to analyst estimates of $34.17 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. analysts predict that LTC Properties will post 3.01 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which was paid on Friday, June 29th. Stockholders of record on Thursday, June 21st were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.33%. LTC Properties’s dividend payout ratio (DPR) is presently 73.55%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of LTC Properties during the fourth quarter valued at approximately $212,000. Verition Fund Management LLC bought a new stake in shares of LTC Properties during the first quarter valued at approximately $244,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of LTC Properties during the fourth quarter valued at approximately $322,000. Profund Advisors LLC raised its holdings in shares of LTC Properties by 32.0% during the first quarter. Profund Advisors LLC now owns 7,728 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 1,873 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of LTC Properties during the first quarter valued at approximately $347,000. 79.42% of the stock is currently owned by institutional investors.
About LTC Properties
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At March 31, 2018, LTC had 203 investments located in 29 states comprising 105 assisted living communities, 97 skilled nursing centers and a behavioral health care hospital.
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