LTC Properties, Inc. (NYSE:LTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, August 16th.
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 recently issued reports on LTC. BMO Capital Markets restated a “hold” rating and issued a $50.00 price target on shares of LTC Properties in a report on Tuesday, May 9th. Stifel Nicolaus reissued a “hold” rating and set a $50.00 price target (down from $51.00) on shares of LTC Properties in a research report on Tuesday, May 9th. Canaccord Genuity reissued a “buy” rating and set a $58.00 price target on shares of LTC Properties in a research report on Tuesday, May 9th. Hilliard Lyons raised LTC Properties from an “underperform” rating to a “neutral” rating in a research report on Wednesday, May 10th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $50.00 price target on shares of LTC Properties in a research report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. LTC Properties presently has a consensus rating of “Hold” and a consensus price target of $50.60.
LTC Properties (LTC) traded down 0.51% during midday trading on Wednesday, hitting $48.54. 283,788 shares of the stock were exchanged. The company has a market cap of $1.92 billion, a PE ratio of 21.34 and a beta of 0.15. The firm’s 50 day moving average price is $49.56 and its 200 day moving average price is $48.65. LTC Properties has a 12 month low of $43.17 and a 12 month high of $54.20.
LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. The company had revenue of $42.47 million during the quarter, compared to the consensus estimate of $35.08 million. On average, equities research analysts forecast that LTC Properties will post $2.19 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in LTC. PNC Financial Services Group Inc. grew its stake in shares of LTC Properties by 12.8% in 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 purchasing an additional 231 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of LTC Properties by 12.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 256 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of LTC Properties by 39.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 900 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of LTC Properties in the first quarter worth $156,000. Finally, Riverhead Capital Management LLC grew its stake in shares of LTC Properties by 91.5% in the second quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 1,464 shares in the last quarter. 81.37% of the stock is owned by institutional investors.
LTC Properties Company Profile
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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