LTC Properties, Inc. (NYSE:LTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.
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 research firms also recently weighed in on LTC. Stifel Nicolaus restated a “hold” rating and issued a $50.00 price target on shares of LTC Properties in a research note on Friday, July 28th. KeyCorp restated a “hold” rating on shares of LTC Properties in a research note on Sunday, September 17th. BidaskClub upgraded LTC Properties from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. BMO Capital Markets downgraded LTC Properties from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $50.00 to $44.00 in a research note on Friday, August 11th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 target price on shares of LTC Properties in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. LTC Properties currently has a consensus rating of “Hold” and a consensus target price of $50.17.
LTC Properties (LTC) opened at $47.63 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 8.66 and a quick ratio of 7.84. The firm has a market capitalization of $1,884.77, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 3.89 and a beta of 0.18. LTC Properties has a one year low of $43.91 and a one year high of $52.85.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.26. The firm had revenue of $41.25 million during the quarter, compared to the consensus estimate of $32.91 million. LTC Properties had a return on equity of 11.69% and a net margin of 52.18%. During the same period last year, the company earned $0.57 earnings per share. equities research analysts predict that LTC Properties will post 3.07 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of 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 during the period. Quantbot Technologies LP bought a new stake in LTC Properties in the 3rd quarter valued at $139,000. Riverhead Capital Management LLC boosted its stake in LTC Properties by 91.5% in 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 period. Ameritas Investment Partners Inc. boosted its stake in LTC Properties by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 200 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in LTC Properties by 9.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 300 shares during the period. Institutional investors own 80.84% 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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