Shares of LTC Properties, Inc. (NYSE:LTC – Get Free Report) have been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $34.33.
Separately, Deutsche Bank Aktiengesellschaft started coverage on LTC Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $34.00 target price on the stock.
Get Our Latest Analysis on LTC Properties
LTC Properties Trading Down 0.9 %
LTC Properties Dividend Announcement
The business also recently disclosed a dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 23rd were given a dividend of $0.19 per share. This represents a dividend yield of 7.11%. The ex-dividend date of this dividend was Monday, January 22nd. LTC Properties’s payout ratio is currently 105.56%.
Hedge Funds Weigh In On LTC Properties
A number of hedge funds and other institutional investors have recently modified their holdings of LTC. State Street Corp lifted its stake in LTC Properties by 27.2% in the 1st quarter. State Street Corp now owns 3,533,890 shares of the real estate investment trust’s stock worth $135,949,000 after purchasing an additional 755,055 shares in the last quarter. Norges Bank purchased a new stake in shares of LTC Properties in the fourth quarter worth about $14,137,000. Wellington Management Group LLP bought a new position in LTC Properties during the first quarter valued at approximately $10,505,000. Weiss Multi Strategy Advisers LLC purchased a new position in LTC Properties during the 1st quarter valued at approximately $9,948,000. Finally, Envestnet Asset Management Inc. increased its stake in LTC Properties by 1,438.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 219,251 shares of the real estate investment trust’s stock worth $447,000 after acquiring an additional 204,996 shares during the last quarter. Institutional investors own 70.28% of the company’s stock.
LTC Properties Company Profile
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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