LTC Properties (NYSE:LTC) Trading 4.8% Higher – Still a Buy?

Shares of LTC Properties, Inc. (NYSE:LTC) were up 4.8% on Tuesday . The company traded as high as $37.70 and last traded at $37.66. Approximately 197,601 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 279,752 shares. The stock had previously closed at $35.94.

Wall Street Analysts Forecast Growth

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

LTC Properties Trading Down 2.1 %

The company has a market cap of $1.73 billion, a PE ratio of 16.39 and a beta of 0.91. The stock has a 50 day moving average price of $36.45 and a 200 day moving average price of $35.20. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The firm had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. Sell-side analysts predict that LTC Properties, Inc. will post 2.7 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date is Thursday, November 21st. LTC Properties’s dividend payout ratio is 97.85%.

Insider Transactions at LTC Properties

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

Institutional Investors Weigh In On LTC Properties

Large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of LTC Properties during the 3rd quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in 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 worth $50,000 after purchasing an additional 687 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 worth $62,000 after purchasing an additional 437 shares during the period. Community Trust & Investment Co. bought a new position in shares of LTC Properties during the 3rd quarter valued at $202,000. Finally, Walleye Trading LLC purchased a new position in shares of LTC Properties in the 1st quarter worth $209,000. 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.