Wells Fargo & Company Cuts LTC Properties (NYSE:LTC) Price Target to $36.00

LTC Properties (NYSE:LTC) had its target price decreased by Wells Fargo & Company from $38.00 to $36.00 in a research note released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

LTC has been the subject of a number of other reports. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Tuesday, January 7th.

LTC Properties Stock Performance

LTC opened at $35.24 on Monday. LTC Properties has a 12-month low of $31.14 and a 12-month high of $39.89. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 15.12 and a beta of 0.96. The business has a 50 day moving average of $34.61 and a 200-day moving average of $36.09. 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 (NYSE:LTC) last released its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $34.81 million during the quarter, compared to analysts’ expectations of $45.25 million. On average, equities research analysts expect that LTC Properties will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The company also recently declared a jan 25 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. The ex-dividend date is Friday, March 21st. This represents a yield of 6.45%. LTC Properties’s payout ratio is currently 111.22%.

Institutional Trading of LTC Properties

Several hedge funds have recently added to or reduced their stakes in LTC. Strategic Financial Concepts LLC increased its stake in LTC Properties by 3,358.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust’s stock worth $22,735,000 after acquiring an additional 638,999 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in LTC Properties by 312.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 332,173 shares of the real estate investment trust’s stock worth $12,187,000 after buying an additional 251,609 shares during the period. State Street Corp lifted its holdings in LTC Properties by 5.8% during the 3rd quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust’s stock worth $121,262,000 after buying an additional 181,973 shares during the period. Marshall Wace LLP lifted its holdings in LTC Properties by 37.3% during the 4th quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust’s stock worth $19,082,000 after buying an additional 150,023 shares during the period. Finally, Norges Bank acquired a new position in shares of LTC Properties in the 4th quarter valued at about $5,000,000. 69.25% of the stock is owned by institutional investors and hedge funds.

About LTC Properties

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.