LTC Properties (NYSE:LTC) Upgraded at Wedbush

Wedbush upgraded shares of LTC Properties (NYSE:LTC) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

LTC has been the topic of a number of other research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $36.00 price objective on shares of LTC Properties in a research note on Monday, May 19th. Wells Fargo & Company lowered their price objective on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $38.00.

LTC Properties Stock Performance

Shares of NYSE:LTC opened at $35.15 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.55 and a quick ratio of 10.55. The business’s 50 day moving average price is $35.29 and its 200-day moving average price is $34.94. The firm has a market capitalization of $1.61 billion, a PE ratio of 18.12 and a beta of 0.65. LTC Properties has a 1 year low of $31.70 and a 1 year high of $39.89.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, equities research analysts expect that LTC Properties will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a $0.19 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.49%. LTC Properties’s payout ratio is currently 117.53%.

Insider Activity at LTC Properties

In other LTC Properties news, EVP David M. Boitano acquired 6,000 shares of the company’s stock in a transaction dated Friday, June 27th. The shares were acquired at an average price of $34.71 per share, for a total transaction of $208,260.00. Following the acquisition, the executive vice president owned 15,626 shares in the company, valued at $542,378.46. The trade was a 62.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Mutual of America Capital Management LLC increased its holdings in shares of LTC Properties by 4.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust’s stock valued at $237,000 after acquiring an additional 314 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of LTC Properties by 7.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,678 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 327 shares during the last quarter. Keudell Morrison Wealth Management increased its holdings in shares of LTC Properties by 0.9% in the 1st quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust’s stock valued at $1,301,000 after acquiring an additional 328 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of LTC Properties by 2.9% in the 1st quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust’s stock valued at $460,000 after acquiring an additional 360 shares during the last quarter. Finally, Bridge City Capital LLC increased its holdings in shares of LTC Properties by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 44,481 shares of the real estate investment trust’s stock valued at $1,537,000 after acquiring an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

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.