LTC Properties (NYSE:LTC) Rating Reiterated by Wedbush

Wedbush reaffirmed their outperform rating on shares of LTC Properties (NYSE:LTC) in a research note released on Friday, Benzinga reports. The firm currently has a $40.00 price objective on the real estate investment trust’s stock.

LTC Properties Stock Performance

Shares of LTC Properties stock opened at $36.77 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29. The firm has a 50 day simple moving average of $36.50 and a 200 day simple moving average of $34.46. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $38.28. The firm has a market cap of $1.60 billion, a P/E ratio of 19.15 and a beta of 0.91.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.22). The business had revenue of $50.12 million during the quarter, compared to the consensus estimate of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. Sell-side analysts predict that LTC Properties will post 2.69 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend is Friday, September 20th. LTC Properties’s dividend payout ratio is 118.75%.

Insider Transactions at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the sale, the director now owns 34,522 shares in the company, valued at $1,258,326.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David L. Gruber purchased 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $35.75 per share, with a total value of $214,500.00. Following the purchase, the director now owns 18,412 shares of the company’s stock, valued at $658,229. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of LTC Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC increased its holdings in LTC Properties by 78.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 529 shares during the period. GAMMA Investing LLC grew its holdings in shares of LTC Properties by 91.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 687 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of LTC Properties during the 4th quarter valued at approximately $58,000. Walleye Trading LLC bought a new stake in shares of LTC Properties during the 1st quarter valued at approximately $209,000. Finally, Van ECK Associates Corp grew its holdings in shares of LTC Properties by 11.7% during the 2nd quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 689 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

About LTC Properties

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.