LTC Properties’ (LTC) “Equal Weight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of LTC Properties (NYSE:LTC) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $37.00 price target on the real estate investment trust’s stock, up from their previous price target of $36.00.

Separately, Wedbush reaffirmed an outperform rating and set a $40.00 price objective on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Trading Down 0.7 %

LTC stock opened at $35.94 on Tuesday. The company has a market cap of $1.56 billion, a P/E ratio of 18.72 and a beta of 0.91. LTC Properties has a twelve month low of $30.30 and a twelve month high of $38.28. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $36.42 and a 200-day moving average of $34.67.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The firm had revenue of $50.12 million for the quarter, compared to the consensus estimate of $33.47 million. LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, equities research analysts expect that LTC Properties will post 2.69 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 23rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.34%. LTC Properties’s dividend payout ratio (DPR) is presently 118.75%.

Insider Buying and Selling

In related news, Director Timothy Triche sold 5,000 shares of LTC Properties 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 completion of the sale, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other LTC Properties news, Director David L. Gruber bought 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $35.75 per share, with a total value of $214,500.00. Following the completion of the purchase, the director now owns 18,412 shares in the company, valued at $658,229. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of LTC Properties by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock worth $217,667,000 after buying an additional 91,963 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of LTC Properties by 3,401.1% during the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 654,136 shares during the period. Dimensional Fund Advisors LP raised its holdings in LTC Properties by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock worth $21,180,000 after acquiring an additional 31,980 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in LTC Properties by 3.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust’s stock worth $9,877,000 after acquiring an additional 9,221 shares in the last quarter. Finally, Norges Bank bought a new stake in LTC Properties during the fourth quarter worth about $8,609,000. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Company Profile

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.