Stifel Nicolaus Reaffirms “Hold” Rating for LTC Properties, Inc. (LTC)
Stifel Nicolaus reiterated their hold rating on shares of LTC Properties, Inc. (NYSE:LTC) in a research note released on Friday. Stifel Nicolaus currently has a $50.00 target price on the real estate investment trust’s stock.
Several other research firms also recently commented on LTC. BidaskClub upgraded shares of LTC Properties from a hold rating to a buy rating in a research note on Wednesday, June 28th. Mizuho reiterated a neutral rating on shares of LTC Properties in a research note on Wednesday, June 28th. Royal Bank Of Canada reiterated a hold rating and set a $50.00 price objective on shares of LTC Properties in a research note on Tuesday, June 27th. Zacks Investment Research upgraded shares of LTC Properties from a sell rating to a hold rating in a research note on Wednesday, April 12th. Finally, BMO Capital Markets reiterated a hold rating and set a $50.00 price objective on shares of LTC Properties in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $53.50.
LTC Properties (LTC) opened at 51.64 on Friday. The company has a market capitalization of $2.04 billion, a P/E ratio of 23.29 and a beta of 0.12. The company’s 50-day moving average is $50.85 and its 200 day moving average is $48.34. LTC Properties has a one year low of $43.17 and a one year high of $54.20.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, May 8th. The real estate investment trust reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.24. LTC Properties had a net margin of 52.17% and a return on equity of 11.66%. The business had revenue of $42.62 million during the quarter, compared to analyst estimates of $34.82 million. Analysts predict that LTC Properties will post $2.21 EPS for the current year.
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The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.42%. LTC Properties’s dividend payout ratio (DPR) is currently 102.70%.
Several hedge funds and other institutional investors have recently bought and sold shares of LTC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in LTC Properties by 12.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 256 shares during the period. Daiwa Securities Group Inc. boosted its position in LTC Properties by 39.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 900 shares during the period. Ameritas Investment Partners Inc. bought a new position in LTC Properties during the first quarter worth approximately $156,000. Campbell & CO Investment Adviser LLC bought a new position in LTC Properties during the second quarter worth approximately $203,000. Finally, Park Avenue Securities LLC bought a new position in LTC Properties during the second quarter worth approximately $207,000. 83.24% of the stock is owned by hedge funds and other institutional investors.
LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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