LTC Properties, Inc. (NYSE:LTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, October 18th.
According to Zacks, “LTC Properties, Inc., a health care real estate investment trust, invests primarily in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments. Their primary objectives are to sustain and enhance stockholder equity value and provide current income for distribution to stockholders through real estate investments in long-term care facilities and other health care related facilities managed by experienced operators providing quality care. “
Several other analysts have also recently weighed in on LTC. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 price objective on shares of LTC Properties in a research note on Tuesday, June 27th. Mizuho reiterated a “neutral” rating on shares of LTC Properties in a research note on Wednesday, June 28th. BidaskClub upgraded shares of LTC Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $50.00 price objective on shares of LTC Properties in a research note on Friday, July 28th. Finally, BMO Capital Markets cut shares of LTC Properties from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $50.00 to $44.00 in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $50.17.
LTC Properties (NYSE LTC) traded up 1.81% during midday trading on Wednesday, hitting $46.61. The company had a trading volume of 268,184 shares. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 20.49 and a beta of 0.16. The company’s 50 day moving average is $47.33 and its 200 day moving average is $48.78. LTC Properties has a 12-month low of $43.17 and a 12-month high of $52.85.
LTC Properties (NYSE:LTC) last posted its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. The company had revenue of $42.47 million during the quarter, compared to analysts’ expectations of $35.08 million. On average, equities analysts anticipate that LTC Properties will post $2.18 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of LTC Properties by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,477,456 shares of the real estate investment trust’s stock valued at $332,876,000 after purchasing an additional 67,988 shares during the last quarter. BlackRock Inc. grew its holdings in shares of LTC Properties by 10,627.1% during the 1st quarter. BlackRock Inc. now owns 6,085,392 shares of the real estate investment trust’s stock valued at $291,489,000 after purchasing an additional 6,028,663 shares during the last quarter. State Street Corp grew its holdings in shares of LTC Properties by 2.0% during the 2nd quarter. State Street Corp now owns 1,509,897 shares of the real estate investment trust’s stock valued at $77,593,000 after purchasing an additional 29,620 shares during the last quarter. Northern Trust Corp grew its holdings in shares of LTC Properties by 3.2% during the 2nd quarter. Northern Trust Corp now owns 1,471,619 shares of the real estate investment trust’s stock valued at $75,627,000 after purchasing an additional 45,234 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. grew its holdings in shares of LTC Properties by 89.0% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,324,700 shares of the real estate investment trust’s stock valued at $36,538,000 after purchasing an additional 623,870 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors.
LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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