Berenberg Bank Initiates Coverage on LTC Properties (NYSE:LTC)

Research analysts at Berenberg Bank started coverage on shares of LTC Properties (NYSE:LTC) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “hold” rating on the real estate investment trust’s stock.

A number of other analysts also recently weighed in on the company. Credit Suisse Group began coverage on LTC Properties in a research report on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 target price for the company. Zacks Investment Research downgraded LTC Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. LTC Properties currently has an average rating of “Hold” and an average target price of $38.00.

Shares of NYSE LTC opened at $49.74 on Thursday. LTC Properties has a 12 month low of $40.11 and a 12 month high of $50.52. The company has a current ratio of 9.57, a quick ratio of 9.57 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 4.12 and a beta of 0.39. The business has a 50-day moving average of $48.07 and a 200-day moving average of $46.12.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.25). The business had revenue of $38.28 million for the quarter, compared to analysts’ expectations of $30.54 million. LTC Properties had a return on equity of 13.18% and a net margin of 63.58%. On average, analysts predict that LTC Properties will post 3.06 earnings per share for the current year.

In other LTC Properties news, Director Timothy Triche sold 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $46.15, for a total value of $129,220.00. Following the completion of the sale, the director now owns 36,362 shares in the company, valued at $1,678,106.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendy Simpson sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $49.20, for a total value of $344,400.00. Following the completion of the sale, the chief executive officer now owns 379,365 shares of the company’s stock, valued at approximately $18,664,758. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in LTC. Geode Capital Management LLC lifted its position in LTC Properties by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 531,273 shares of the real estate investment trust’s stock valued at $22,143,000 after purchasing an additional 31,098 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of LTC Properties by 43.3% during the first quarter. BNP Paribas Arbitrage SA now owns 9,504 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 2,873 shares during the period. Janus Henderson Group PLC increased its stake in shares of LTC Properties by 36.5% during the first quarter. Janus Henderson Group PLC now owns 8,005 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 2,140 shares during the period. Sigma Planning Corp purchased a new position in shares of LTC Properties during the first quarter valued at approximately $274,000. Finally, Comerica Bank increased its stake in shares of LTC Properties by 6.2% during the first quarter. Comerica Bank now owns 44,176 shares of the real estate investment trust’s stock valued at $2,036,000 after buying an additional 2,588 shares during the period. Hedge funds and other institutional investors own 75.74% of the company’s stock.

LTC Properties Company Profile

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners.

Further Reading: Return on Investment (ROI)

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