LTC Properties (NYSE:LTC) Rating Increased to Strong-Buy at Citizens Jmp

Citizens Jmp upgraded shares of LTC Properties (NYSE:LTC) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Several other research firms also recently issued reports on LTC. Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of LTC Properties in a report on Friday, September 20th. JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Tuesday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.75.

LTC Properties Price Performance

Shares of LTC opened at $34.12 on Tuesday. The company has a 50 day moving average of $37.05 and a two-hundred day moving average of $36.40. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties has a twelve month low of $30.30 and a twelve month high of $39.89. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 14.64 and a beta of 0.93.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share 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 business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same period in the previous year, the business 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, analysts predict that LTC Properties will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date is Friday, March 21st. LTC Properties’s dividend payout ratio is presently 97.85%.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the completion of the transaction, the insider now owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Gruber purchased 3,000 shares of LTC Properties stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares in the company, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LTC. GAMMA Investing LLC raised its position in shares of LTC Properties by 35.3% during the 4th quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 638 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 acquiring an additional 113,100 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 worth $8,408,000 after acquiring an additional 14,778 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of LTC Properties during the third quarter worth approximately $270,000. Finally, Geode Capital Management LLC lifted its holdings in LTC Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,125,020 shares of the real estate investment trust’s stock valued at $41,284,000 after purchasing an additional 8,351 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Company Profile

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.