LTC Properties (NYSE:LTC) Reaches New 52-Week High – Still a Buy?

LTC Properties, Inc. (NYSE:LTC) shares reached a new 52-week high during trading on Friday . The stock traded as high as $39.67 and last traded at $39.63, with a volume of 74951 shares. The stock had previously closed at $38.71.

Wall Street Analysts Forecast Growth

LTC has been the topic of a number of analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Stock Up 1.5 %

The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.78 billion, a PE ratio of 16.86 and a beta of 0.90. The firm has a fifty day moving average of $36.71 and a 200 day moving average of $35.52.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The business had revenue of $55.78 million during the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. On average, equities research analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a yield of 5.80%. LTC Properties’s payout ratio is currently 97.85%.

Insider Activity

In related news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the director now directly owns 34,522 shares in the company, valued at $1,258,326.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at $6,145,168.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy Triche sold 5,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the director now owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On LTC Properties

Institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in LTC Properties in the 3rd quarter valued at about $36,000. GAMMA Investing LLC raised its stake in shares of LTC Properties by 91.4% during the second quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 687 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of LTC Properties by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 437 shares during the last quarter. Community Trust & Investment Co. acquired a new stake in shares of LTC Properties during the third quarter worth $202,000. Finally, Walleye Trading LLC purchased a new position in LTC Properties in the 1st quarter valued at $209,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

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.