LTC Properties (NYSE:LTC) Stock Rating Upgraded by JMP Securities

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

Several other research analysts have also issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

LTC Properties Stock Performance

NYSE:LTC opened at $34.12 on Tuesday. The stock has a market cap of $1.54 billion, a P/E ratio of 14.64 and a beta of 0.93. 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 business’s 50-day moving average price is $37.05 and its two-hundred day moving average price is $36.40. LTC Properties has a twelve month low of $30.30 and a twelve month high of $39.89.

LTC Properties (NYSE:LTC) last announced its earnings results 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 net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $55.78 million during the quarter, compared to analysts’ expectations of $35.45 million. During the same period in the prior year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities analysts predict that LTC Properties will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

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

Insider Buying and Selling

In related news, insider Clint B. Malin sold 6,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the sale, the insider now directly owns 158,585 shares in the company, valued at $6,145,168.75. This represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were bought at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the transaction, the director now owns 21,516 shares in the company, valued at $799,534.56. The trade was 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 corporate insiders.

Institutional Trading of LTC Properties

A number of institutional investors have recently made changes to their positions in LTC. Harbor Capital Advisors Inc. bought a new stake in LTC Properties during the 3rd quarter valued at $36,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of LTC Properties by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 437 shares during the period. GAMMA Investing LLC raised its stake in shares of 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 valued at $66,000 after acquiring an additional 366 shares during the last quarter. FMR LLC raised its stake in shares of LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 1,653 shares during the last quarter. Finally, Community Trust & Investment Co. purchased a new stake in shares of LTC Properties during the third quarter worth about $202,000. Hedge funds and other 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.