LTC Properties (NYSE:LTC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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 equities analysts have also recently issued reports on the company. BMO Capital Markets reiterated a “sell” rating and set a $44.00 target price on shares of LTC Properties in a research report on Wednesday, October 18th. ValuEngine cut LTC Properties from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Royal Bank of Canada reiterated a “hold” rating and set a $48.00 target price on shares of LTC Properties in a research report on Monday, October 23rd. KeyCorp reiterated a “hold” rating on shares of LTC Properties in a research report on Sunday, September 17th. Finally, Capital One Financial started coverage on LTC Properties in a research report on Monday, September 25th. They set an “overweight” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $49.71.
LTC Properties (NYSE:LTC) opened at $41.04 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 8.66 and a current ratio of 8.66. LTC Properties has a 52-week low of $40.65 and a 52-week high of $52.85. The stock has a market capitalization of $1,620.00, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 3.40 and a beta of 0.18.
LTC Properties (NYSE:LTC) last released its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.26. LTC Properties had a return on equity of 11.69% and a net margin of 52.18%. The company had revenue of $41.25 million for the quarter, compared to analysts’ expectations of $32.91 million. During the same quarter in the previous year, the firm posted $0.57 EPS. sell-side analysts forecast that LTC Properties will post 3.08 earnings per share for the current fiscal year.
In other news, Director Timothy Triche sold 2,720 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $43.35, for a total transaction of $117,912.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Boyd W. Hendrickson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $47.07, for a total value of $70,605.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,727 shares of company stock worth $436,470 in the last three months. Corporate insiders own 1.50% of the company’s stock.
Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of LTC Properties by 12.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 231 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of LTC Properties during the 3rd quarter worth approximately $139,000. Riverhead Capital Management LLC boosted its stake in shares of LTC Properties by 91.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock worth $157,000 after acquiring an additional 1,464 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of LTC Properties by 6.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 200 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in shares of LTC Properties during the 2nd quarter worth approximately $202,000. 77.52% of the stock is currently owned by institutional investors and hedge funds.
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About LTC Properties
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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