LTC Properties (LTC) Downgraded to Underperform at Royal Bank of Canada

LTC Properties (NYSE:LTC) was downgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $38.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would indicate a potential downside of 4.81% from the stock’s current price.

LTC has been the topic of a number of other reports. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $52.00 target price on shares of LTC Properties in a research report on Thursday, March 1st. TheStreet downgraded shares of LTC Properties from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th. ValuEngine downgraded shares of LTC Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, BMO Capital Markets set a $39.00 target price on shares of LTC Properties and gave the stock a “sell” rating in a research report on Monday, March 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. LTC Properties presently has an average rating of “Hold” and an average price target of $42.86.

Shares of LTC Properties stock opened at $39.92 on Wednesday. The company has a current ratio of 9.69, a quick ratio of 9.69 and a debt-to-equity ratio of 0.91. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 3.26 and a beta of 0.10. LTC Properties has a 12-month low of $34.46 and a 12-month high of $52.85.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Wednesday, May 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). The company had revenue of $41.81 million for the quarter, compared to analysts’ expectations of $34.17 million. LTC Properties had a net margin of 51.43% and a return on equity of 11.36%. During the same period in the previous year, the firm posted $0.54 earnings per share. analysts forecast that LTC Properties will post 3.02 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Texas Yale Capital Corp. grew its position in LTC Properties by 27.0% during the 4th quarter. Texas Yale Capital Corp. now owns 7,173 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 1,527 shares during the last quarter. Strs Ohio grew its position in LTC Properties by 2.8% during the 4th quarter. Strs Ohio now owns 62,436 shares of the real estate investment trust’s stock valued at $2,719,000 after purchasing an additional 1,698 shares during the last quarter. LPL Financial LLC grew its position in LTC Properties by 3.9% during the 1st quarter. LPL Financial LLC now owns 45,798 shares of the real estate investment trust’s stock valued at $1,740,000 after purchasing an additional 1,723 shares during the last quarter. Profund Advisors LLC grew its position in LTC Properties by 32.0% during the 1st quarter. Profund Advisors LLC now owns 7,728 shares of the real estate investment trust’s stock valued at $294,000 after purchasing an additional 1,873 shares during the last quarter. Finally, QS Investors LLC grew its position in LTC Properties by 9.4% during the 4th quarter. QS Investors LLC now owns 24,040 shares of the real estate investment trust’s stock valued at $1,047,000 after purchasing an additional 2,059 shares during the last quarter. 79.42% of the stock is currently owned by institutional investors.

About LTC Properties

LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At December 31, 2017, LTC had 202 investments located in 29 states comprising 105 assisted living communities, 96 skilled nursing centers and 1 behavioral health care hospital.

Analyst Recommendations for LTC Properties (NYSE:LTC)

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