LTC Properties, Inc. (NYSE:LTC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of LTC Properties, Inc. (NYSE:LTC) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $33.86.

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price objective for the company.

Insider Transactions at LTC Properties

In other news, Director Timothy Triche sold 3,082 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $97,606.94. Following the transaction, the director now directly owns 36,343 shares of the company’s stock, valued at $1,150,982.81. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

Large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of LTC Properties by 2.4% in the 2nd quarter. BlackRock Inc. now owns 7,570,032 shares of the real estate investment trust’s stock valued at $249,962,000 after acquiring an additional 179,321 shares during the period. Vanguard Group Inc. increased its position in shares of LTC Properties by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,551,223 shares of the real estate investment trust’s stock valued at $245,344,000 after acquiring an additional 124,823 shares during the period. State Street Corp increased its position in shares of LTC Properties by 5.9% in the 2nd quarter. State Street Corp now owns 3,741,901 shares of the real estate investment trust’s stock valued at $143,652,000 after acquiring an additional 208,011 shares during the period. Geode Capital Management LLC increased its position in shares of LTC Properties by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 914,475 shares of the real estate investment trust’s stock valued at $30,196,000 after acquiring an additional 54,845 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of LTC Properties by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 669,340 shares of the real estate investment trust’s stock valued at $21,499,000 after acquiring an additional 24,322 shares during the period. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Stock Performance

LTC Properties stock opened at $31.69 on Friday. The company has a 50 day moving average price of $31.90 and a 200-day moving average price of $32.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 13.29 and a current ratio of 13.29. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $35.72. The company has a market capitalization of $1.37 billion, a PE ratio of 14.67 and a beta of 0.87.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date is Thursday, June 20th. LTC Properties’s dividend payout ratio (DPR) is 105.56%.

About LTC Properties

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.