LTC Properties, Inc. (LTC) Raised to Hold at Zacks Investment Research
LTC Properties, Inc. (NYSE:LTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
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. “
A number of other analysts have also weighed in on the company. BidaskClub upgraded LTC Properties from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Mizuho restated a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th. Royal Bank Of Canada restated a “hold” rating and set a $50.00 target price on shares of LTC Properties in a report on Tuesday, June 27th. Stifel Nicolaus restated a “hold” rating and set a $50.00 target price on shares of LTC Properties in a report on Friday, July 28th. Finally, BMO Capital Markets lowered LTC Properties from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $50.00 to $44.00 in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.60.
Shares of LTC Properties (LTC) traded up 0.16% on Thursday, reaching $48.93. The company’s stock had a trading volume of 381,801 shares. The firm has a market capitalization of $1.94 billion, a PE ratio of 21.51 and a beta of 0.15. The firm has a 50-day moving average price of $48.91 and a 200 day moving average price of $48.77. LTC Properties has a one year low of $43.17 and a one year high of $53.08.
LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. The company had revenue of $42.47 million for the quarter, compared to analysts’ expectations of $35.08 million. On average, analysts anticipate that LTC Properties will post $2.18 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in LTC Properties by 12.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 231 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of LTC Properties by 12.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 256 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of LTC Properties by 39.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 900 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of LTC Properties during the 1st quarter valued at $156,000. Finally, Riverhead Capital Management LLC lifted its holdings 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 valued at $157,000 after purchasing an additional 1,464 shares during the last quarter. Institutional investors own 81.37% of the company’s stock.
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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