LTC Properties (NYSE:LTC) Hits New 1-Year High – Should You Buy?

LTC Properties, Inc. (NYSE:LTC)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $39.67 and last traded at $39.63, with a volume of 74951 shares traded. The stock had previously closed at $38.71.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $37.00 price target (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The company has a fifty day moving average price of $36.66 and a two-hundred day moving average price of $35.45. The company has a market cap of $1.78 billion, a P/E ratio of 16.90 and a beta of 0.90.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. LTC Properties’s quarterly revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 annualized dividend and a dividend yield of 5.80%. LTC Properties’s dividend payout ratio is currently 97.85%.

Insider Activity at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction that occurred 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 directly owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new position in LTC Properties during the third quarter worth about $36,000. GAMMA Investing LLC increased its stake in shares of LTC Properties by 91.4% in the second quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 687 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in LTC Properties by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 437 shares during the period. Community Trust & Investment Co. bought a new position in shares of LTC Properties during the third quarter valued at $202,000. Finally, Walleye Trading LLC acquired a new stake in LTC Properties in the first quarter valued at $209,000. Institutional investors own 69.25% 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.