Shares of LTC Properties Inc (NYSE:LTC) have received a consensus recommendation of “Hold” from the nine brokerages that are covering the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $52.00.
LTC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Saturday, October 29th. Cantor Fitzgerald set a $55.00 price target on shares of LTC Properties and gave the stock a “buy” rating in a research note on Friday, November 11th. RBC Capital Markets set a $50.00 price target on shares of LTC Properties and gave the stock a “hold” rating in a research note on Tuesday, January 3rd. Finally, Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of LTC Properties in a research note on Thursday, January 5th.
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Several institutional investors have recently modified their holdings of LTC. Amalgamated Bank purchased a new position in shares of LTC Properties during the second quarter valued at approximately $227,000. Advisor Group Inc. increased its position in shares of LTC Properties by 17.1% in the third quarter. Advisor Group Inc. now owns 5,159 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 753 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of LTC Properties by 0.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,307 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 55 shares during the period. M&T Bank Corp increased its position in shares of LTC Properties by 12.5% in the third quarter. M&T Bank Corp now owns 6,477 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 718 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of LTC Properties by 164.1% in the third quarter. SG Americas Securities LLC now owns 6,713 shares of the real estate investment trust’s stock valued at $349,000 after buying an additional 4,171 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.
LTC Properties (NYSE:LTC) opened at 46.16 on Thursday. LTC Properties has a 12-month low of $41.25 and a 12-month high of $54.20. The firm’s 50-day moving average price is $46.78 and its 200 day moving average price is $48.78. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 21.42 and a beta of 0.19.
The company also recently disclosed a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 23rd will be paid a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Tuesday, March 21st. LTC Properties’s dividend payout ratio (DPR) is 105.56%.
About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its 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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