LTC Properties (LTC) Sets New 52-Week High and Low at $35.10

Shares of LTC Properties, Inc. (NYSE:LTC) reached a new 52-week high and low during trading on Friday . The company traded as low as $35.10 and last traded at $35.23, with a volume of 429667 shares changing hands. The stock had previously closed at $36.29.

A number of analysts have commented on LTC shares. ValuEngine lowered shares of LTC Properties from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, January 11th. TheStreet lowered shares of LTC Properties from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $52.00 price objective on shares of LTC Properties in a research note on Thursday, March 1st. Finally, Stifel Nicolaus set a $40.00 price objective on shares of LTC Properties and gave the company a “hold” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.25.

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The firm has a market cap of $1,469.83, a price-to-earnings ratio of 11.41, a PEG ratio of 3.07 and a beta of 0.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 8.25 and a quick ratio of 8.25.

LTC Properties (NYSE:LTC) last issued its earnings results on Thursday, March 1st. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.25). The business had revenue of $41.73 million during the quarter, compared to analyst estimates of $33.28 million. LTC Properties had a net margin of 51.86% and a return on equity of 11.52%. equities research analysts expect that LTC Properties, Inc. will post 3.02 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, June 21st will be issued a $0.19 dividend. The ex-dividend date is Wednesday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.48%. LTC Properties’s dividend payout ratio is 73.55%.

Several institutional investors and hedge funds have recently modified their holdings of LTC. Victory Capital Management Inc. increased its holdings in LTC Properties by 14.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,214,154 shares of the real estate investment trust’s stock worth $52,876,000 after buying an additional 152,673 shares during the last quarter. Deutsche Bank AG increased its holdings in LTC Properties by 222.4% in the fourth quarter. Deutsche Bank AG now owns 166,802 shares of the real estate investment trust’s stock worth $7,260,000 after buying an additional 115,064 shares during the last quarter. Two Sigma Investments LP increased its holdings in LTC Properties by 230.3% in the fourth quarter. Two Sigma Investments LP now owns 164,610 shares of the real estate investment trust’s stock worth $7,169,000 after buying an additional 114,774 shares during the last quarter. Renaissance Technologies LLC increased its holdings in LTC Properties by 1,381.5% in the fourth quarter. Renaissance Technologies LLC now owns 120,000 shares of the real estate investment trust’s stock worth $5,226,000 after buying an additional 111,900 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in LTC Properties by 93.5% in the fourth quarter. Two Sigma Advisers LP now owns 157,916 shares of the real estate investment trust’s stock worth $6,877,000 after buying an additional 76,309 shares during the last quarter. Institutional investors own 80.14% of the company’s stock.

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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 December 31, 2017, LTC had 202 investments located in 29 states comprising 105 assisted living communities, 96 skilled nursing centers and 1 behavioral health care hospital.

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