LTC Properties’ (LTC) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of LTC Properties (NYSE:LTC) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $40.00 target price on the real estate investment trust’s stock.

LTC Properties Trading Up 2.1 %

LTC opened at $36.77 on Friday. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $38.28. 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 market capitalization of $1.60 billion, a price-to-earnings ratio of 19.15 and a beta of 0.91. The company’s 50 day moving average price is $36.50 and its two-hundred day moving average price is $34.46.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The firm had revenue of $50.12 million during 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%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, research analysts predict that LTC Properties will post 2.69 earnings per share for the current year.

LTC Properties Announces Dividend

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

Insider Activity at LTC Properties

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

Institutional Trading of LTC Properties

Several hedge funds have recently made changes to their positions in LTC. Charles Schwab Investment Management Inc. boosted its stake in LTC Properties by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 669,340 shares of the real estate investment trust’s stock worth $21,499,000 after purchasing an additional 24,322 shares during the period. Waterloo Capital L.P. purchased a new stake in shares of LTC Properties in the fourth quarter worth about $1,519,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of LTC Properties by 180.4% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock worth $1,623,000 after buying an additional 30,258 shares in the last quarter. Victory Capital Management Inc. lifted its stake in LTC Properties by 32.9% in the 4th quarter. Victory Capital Management Inc. now owns 11,361 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 2,814 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake 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 worth $39,000 after purchasing an additional 529 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

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.