LTC Properties (NYSE:LTC) Upgraded at JMP Securities

JMP Securities upgraded shares of LTC Properties (NYSE:LTC) from a market perform rating to an outperform rating in a research note published on Tuesday, Marketbeat reports. The firm currently has $40.00 target price on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on LTC. 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 report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, LTC Properties currently has a consensus rating of “Moderate Buy” and an average target price of $37.75.

LTC Properties Price Performance

Shares of LTC opened at $34.19 on Tuesday. LTC Properties has a 52 week low of $30.30 and a 52 week high of $39.89. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 14.67 and a beta of 0.93. The stock has a 50 day moving average of $36.95 and a 200-day moving average of $36.38.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. As a group, analysts forecast that LTC Properties will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

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

Insiders Place Their Bets

In other news, insider Clint B. Malin sold 6,000 shares of the stock in a transaction on Thursday, November 7th. The stock was 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. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David L. Gruber acquired 3,000 shares of LTC Properties stock in a transaction that occurred on Wednesday, December 11th. The stock was bought 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 of the company’s stock, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new position in LTC Properties during the 3rd quarter valued at $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 acquiring an additional 437 shares during the period. GAMMA Investing LLC raised its position in LTC Properties by 25.4% in the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 366 shares in the last quarter. FMR LLC raised its position in LTC Properties by 132.7% in the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 1,653 shares in the last quarter. Finally, Community Trust & Investment Co. acquired a new stake in LTC Properties in the 3rd quarter valued at about $202,000. Institutional investors and hedge funds 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.