LTC Properties (NYSE:LTC) Raised 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 report issued on Tuesday,Zacks.com reports.

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

LTC Properties Stock Up 0.1 %

NYSE:LTC opened at $34.19 on Tuesday. LTC Properties has a 12-month low of $30.30 and a 12-month high of $39.89. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.55 billion, a P/E ratio of 14.67 and a beta of 0.93. The stock’s fifty day simple moving average is $36.95 and its 200-day simple moving average is $36.38.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $35.45 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts expect that LTC Properties will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.67%. The ex-dividend date of this dividend is Friday, March 21st. LTC Properties’s dividend payout ratio is 97.85%.

Insider Buying and Selling at LTC Properties

In related news, Director David L. Gruber acquired 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. The trade was a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction dated 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 $6,145,168.75. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

Several hedge funds have recently modified their holdings of LTC. Harbor Capital Advisors Inc. bought a new position in shares of LTC Properties in the 3rd quarter valued at about $36,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in LTC Properties by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 437 shares during the period. GAMMA Investing LLC grew its holdings in LTC Properties by 25.4% during the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 366 shares during the period. FMR LLC grew its holdings in LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 1,653 shares during the period. Finally, Community Trust & Investment Co. bought a new position in LTC Properties during the third quarter worth about $202,000. Institutional investors own 69.25% of the company’s stock.

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.