The LTC Properties Inc. (LTC) to Issue Oct 16 Dividend of $0.19 on October 31st

The LTC Properties Inc. (LTC) to Issue Oct 16 Dividend of $0.19 on  October 31st

LTC Properties Inc. (NYSE:LTC) declared a oct 16 dividend on Monday, October 3rd. Investors of record on Friday, October 21st will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, October 31st. This represents a yield of 4.53%. The ex-dividend date is Wednesday, October 19th. This is an increase from LTC Properties’s previous oct 16 dividend of $0.18.

LTC Properties (NYSE:LTC) opened at 50.24 on Friday. The company’s 50-day moving average price is $51.40 and its 200-day moving average price is $49.79. The stock has a market cap of $1.97 billion, a P/E ratio of 23.80 and a beta of 0.36. LTC Properties has a one year low of $40.02 and a one year high of $54.20.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. The firm earned $40 million during the quarter, compared to analyst estimates of $33.66 million. LTC Properties had a return on equity of 11.83% and a net margin of 52.62%. During the same quarter last year, the business posted $0.67 earnings per share. Analysts forecast that LTC Properties will post $3.06 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated a “buy” rating on shares of LTC Properties in a research report on Friday, September 9th. Zacks Investment Research lowered LTC Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Mizuho lowered LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Monday, July 18th. Canaccord Genuity raised their price objective on LTC Properties from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Finally, Hilliard Lyons lowered LTC Properties from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.00.

In other LTC Properties news, Director Timothy Triche sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $52.13, for a total value of $104,260.00. Following the completion of the sale, the director now owns 36,188 shares of the company’s stock, valued at $1,886,480.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in LTC. BlackRock Fund Advisors increased its stake in shares of LTC Properties by 4.4% in the second quarter. BlackRock Fund Advisors now owns 2,496,834 shares of the real estate investment trust’s stock valued at $129,161,000 after buying an additional 105,938 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of LTC Properties by 28.3% in the second quarter. TIAA CREF Investment Management LLC now owns 174,245 shares of the real estate investment trust’s stock valued at $9,014,000 after buying an additional 38,392 shares during the last quarter. Employees Retirement System of Texas increased its stake in shares of LTC Properties by 60.7% in the second quarter. Employees Retirement System of Texas now owns 98,000 shares of the real estate investment trust’s stock valued at $5,070,000 after buying an additional 37,000 shares during the last quarter. State Street Corp increased its stake in shares of LTC Properties by 2.9% in the second quarter. State Street Corp now owns 1,258,349 shares of the real estate investment trust’s stock valued at $65,095,000 after buying an additional 35,243 shares during the last quarter. Finally, Credit Suisse AG increased its stake in shares of LTC Properties by 38.0% in the second quarter. Credit Suisse AG now owns 123,016 shares of the real estate investment trust’s stock valued at $6,363,000 after buying an additional 33,895 shares during the last quarter. 82.90% of the stock is owned by institutional investors and hedge funds.

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