LTC Properties (NYSE:LTC) Hits New 12-Month High – What’s Next?

LTC Properties, Inc. (NYSE:LTC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $38.32 and last traded at $38.29, with a volume of 25162 shares changing hands. The stock had previously closed at $38.08.

Analyst Ratings Changes

Several equities research analysts recently commented on LTC shares. Wedbush reissued an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $37.00 target price (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

LTC Properties Stock Down 2.1 %

The company has a market cap of $1.73 billion, a price-to-earnings ratio of 16.39 and a beta of 0.91. The business has a 50-day simple moving average of $36.45 and a two-hundred day simple moving average of $35.20. The company has a quick ratio of 11.29, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. During the same period in the previous year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities analysts forecast that LTC Properties, Inc. will post 2.74 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a yield of 5.97%. LTC Properties’s payout ratio is presently 97.85%.

Insider Buying and Selling

In other news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the transaction, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in shares of LTC Properties in the third quarter valued at about $36,000. GAMMA Investing LLC lifted its position in shares of LTC Properties by 91.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 687 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LTC Properties by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 437 shares during the period. Community Trust & Investment Co. acquired a new stake in shares of LTC Properties during the 3rd quarter worth approximately $202,000. Finally, Walleye Trading LLC bought a new stake in shares of LTC Properties during the first quarter valued at approximately $209,000. 69.25% of the stock is currently 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.