Wells Fargo & Company Issues Pessimistic Forecast for LTC Properties (NYSE:LTC) Stock Price

LTC Properties (NYSE:LTC) had its target price cut by Wells Fargo & Company from $38.00 to $36.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on LTC. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Tuesday, January 7th.

LTC Properties Stock Performance

Shares of LTC opened at $35.24 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The stock has a 50 day moving average price of $34.61 and a two-hundred day moving average price of $36.09. The firm has a market capitalization of $1.60 billion, a P/E ratio of 15.12 and a beta of 0.96. LTC Properties has a 52 week low of $31.14 and a 52 week high of $39.89.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. The company had revenue of $34.81 million during the quarter, compared to analyst estimates of $45.25 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. Equities analysts forecast that LTC Properties will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently disclosed a jan 25 dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be paid a $0.19 dividend. The ex-dividend date is Friday, March 21st. This represents a yield of 6.45%. LTC Properties’s payout ratio is 111.22%.

Hedge Funds Weigh In On LTC Properties

Institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its stake in LTC Properties by 148.8% in the third quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust’s stock valued at $3,228,000 after purchasing an additional 52,619 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in LTC Properties by 80.4% in the third quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock valued at $9,312,000 after purchasing an additional 113,100 shares during the last quarter. Principal Financial Group Inc. lifted its stake in LTC Properties by 6.9% in the third quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust’s stock valued at $8,408,000 after purchasing an additional 14,778 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in LTC Properties by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock valued at $27,683,000 after purchasing an additional 30,422 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in LTC Properties in the fourth quarter valued at approximately $250,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

About LTC Properties

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.