Credit Suisse Group initiated coverage on shares of LTC Properties (NYSE:LTC) in a report released on Wednesday morning, Stock Target Advisor reports. The firm issued an underperform rating and a $19.00 target price on the real estate investment trust’s stock.

Separately, Zacks Investment Research lowered First Bancorp from a buy rating to a hold rating in a research note on Friday, June 14th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $40.17.

LTC stock opened at $47.30 on Wednesday. The stock has a 50 day moving average of $45.84. The firm has a market cap of $1.88 billion, a PE ratio of 15.46, a PEG ratio of 3.90 and a beta of 0.44. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.86. LTC Properties has a 52 week low of $40.11 and a 52 week high of $48.13.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Thursday, May 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.23). LTC Properties had a return on equity of 19.07% and a net margin of 95.25%. The company had revenue of $28.02 million during the quarter, compared to analysts’ expectations of $33.02 million. Sell-side analysts anticipate that LTC Properties will post 3.03 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 23rd will be given a $0.19 dividend. The ex-dividend date is Monday, July 22nd. This represents a $2.28 dividend on an annualized basis and a yield of 4.82%. LTC Properties’s dividend payout ratio is currently 74.51%.

In related news, Director Timothy Triche sold 2,800 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $46.15, for a total value of $129,220.00. Following the transaction, the director now owns 36,362 shares in the company, valued at approximately $1,678,106.30. The sale was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. 6 Meridian increased its stake in LTC Properties by 2.2% during the 2nd quarter. 6 Meridian now owns 15,782 shares of the real estate investment trust’s stock worth $721,000 after buying an additional 341 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of LTC Properties in the second quarter valued at approximately $653,000. Denali Advisors LLC purchased a new position in shares of LTC Properties in the second quarter valued at approximately $164,000. Advisors Asset Management Inc. acquired a new stake in shares of LTC Properties in the first quarter worth approximately $131,000. Finally, Citigroup Inc. boosted its stake in shares of LTC Properties by 12.8% in the first quarter. Citigroup Inc. now owns 45,215 shares of the real estate investment trust’s stock worth $2,071,000 after acquiring an additional 5,124 shares during the last quarter. Institutional investors and hedge funds own 75.98% of the company’s stock.

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 holds more than 200 investments in 28 states with 30 operating partners.

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Analyst Recommendations for LTC Properties (NYSE:LTC)

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