Wells Fargo & Company Reiterates “Equal Weight” Rating for LTC Properties (NYSE:LTC)

by · The Markets Daily

Wells Fargo & Company reaffirmed their equal weight rating on shares of LTC Properties (NYSE:LTC – Free Report) in a research note published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has a $37.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $36.00.

Separately, Wedbush reissued an outperform rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th.

Get Our Latest Stock Report on LTC

LTC Properties Price Performance

Shares of NYSE LTC opened at $35.84 on Tuesday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 18.67 and a beta of 0.91. LTC Properties has a 12 month low of $30.30 and a 12 month high of $38.28. The firm’s 50 day simple moving average is $36.38 and its 200-day simple moving average is $34.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29.

LTC Properties (NYSE:LTC – Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The firm had revenue of $50.12 million for the quarter, compared to analyst estimates of $33.47 million. LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. LTC Properties’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. Analysts expect that LTC Properties will post 2.69 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.28 annualized dividend and a dividend yield of 6.36%. LTC Properties’s dividend payout ratio is presently 118.75%.

Insider Transactions at LTC Properties

In other news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the transaction, the director now owns 34,522 shares in the company, valued at $1,258,326.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director David L. Gruber acquired 6,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the acquisition, the director now owns 18,412 shares in the company, valued at approximately $658,229. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the sale, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of LTC Properties

Several institutional investors and hedge funds have recently bought and sold shares of LTC. Norges Bank purchased a new stake in LTC Properties in the 4th quarter valued at about $8,609,000. Waterloo Capital L.P. purchased a new stake in LTC Properties in the 4th quarter valued at about $1,519,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in LTC Properties by 3.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust’s stock valued at $9,877,000 after buying an additional 9,221 shares during the period. BNP Paribas Financial Markets grew its position in LTC Properties by 9.8% in the 1st quarter. BNP Paribas Financial Markets now owns 20,589 shares of the real estate investment trust’s stock valued at $669,000 after acquiring an additional 1,843 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in LTC Properties by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 13,469 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 887 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Company Profile

(Get Free Report)

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.

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