LTC Properties (NYSE:LTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $47.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.37% from the stock’s previous close.
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 analysts have also commented on LTC. KeyCorp restated a “hold” rating on shares of LTC Properties in a research report on Sunday, September 17th. Capital One Financial started coverage on shares of LTC Properties in a research report on Monday, September 25th. They set an “overweight” rating and a $50.00 price target for the company. BMO Capital Markets restated a “sell” rating and set a $44.00 price target on shares of LTC Properties in a research report on Wednesday, October 18th. Royal Bank of Canada restated a “hold” rating and set a $48.00 price target on shares of LTC Properties in a research report on Monday, October 23rd. Finally, ValuEngine lowered shares of LTC Properties from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. 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. LTC Properties has an average rating of “Hold” and a consensus price target of $49.71.
LTC Properties (NYSE LTC) traded down $0.65 on Thursday, hitting $40.39. 251,800 shares of the stock were exchanged, compared to its average volume of 304,889. The stock has a market cap of $1,600.00, a price-to-earnings ratio of 18.19, a P/E/G ratio of 3.23 and a beta of 0.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 8.66 and a quick ratio of 8.66. LTC Properties has a 12-month low of $40.29 and a 12-month high of $52.85.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.26. The firm had revenue of $41.25 million during the quarter, compared to analyst estimates of $32.91 million. LTC Properties had a net margin of 52.18% and a return on equity of 11.69%. During the same period in the previous year, the business earned $0.57 EPS. research analysts forecast that LTC Properties will post 3.08 earnings per share for the current year.
In other news, Director Timothy Triche sold 2,720 shares of LTC Properties stock in a transaction on Friday, December 28th. The shares were sold at an average price of $43.35, for a total transaction of $117,912.00. Following the completion of the sale, the director now directly owns 34,656 shares of the company’s stock, valued at approximately $1,502,337.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Boyd W. Hendrickson sold 2,787 shares of LTC Properties stock in a transaction on Friday, December 15th. The stock was sold at an average price of $46.66, for a total transaction of $130,041.42. The disclosure for this sale can be found here. Insiders have sold a total of 9,727 shares of company stock valued at $436,470 over the last ninety days. 1.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of LTC. Schwab Charles Investment Management Inc. lifted its holdings in shares of LTC Properties by 5.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 369,475 shares of the real estate investment trust’s stock worth $18,988,000 after acquiring an additional 19,393 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in LTC Properties in the second quarter worth $202,000. Swiss National Bank lifted its stake in LTC Properties by 5.1% in the second quarter. Swiss National Bank now owns 65,962 shares of the real estate investment trust’s stock worth $3,390,000 after purchasing an additional 3,200 shares during the last quarter. Wells Fargo & Company MN lifted its stake in LTC Properties by 2.9% in the second quarter. Wells Fargo & Company MN now owns 103,210 shares of the real estate investment trust’s stock worth $5,305,000 after purchasing an additional 2,947 shares during the last quarter. Finally, AXA lifted its stake in LTC Properties by 57.4% in the second quarter. AXA now owns 82,265 shares of the real estate investment trust’s stock worth $4,228,000 after purchasing an additional 30,000 shares during the last quarter. 77.89% of the stock is owned by institutional investors.
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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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