LTC Properties, Inc. (LTC) Upgraded to “Hold” by BidaskClub
BidaskClub upgraded shares of LTC Properties, Inc. (NYSE:LTC) from a sell rating to a hold rating in a research note published on Saturday.
LTC has been the topic of a number of other research reports. BMO Capital Markets cut shares of LTC Properties from a market perform rating to an underperform rating and dropped their price target for the stock from $50.00 to $44.00 in a research note on Friday, August 11th. Stifel Nicolaus set a $46.00 price target on shares of LTC Properties and gave the stock a hold rating in a research note on Sunday, August 13th. Royal Bank Of Canada reiterated a hold rating and issued a $50.00 price target on shares of LTC Properties in a research note on Tuesday, May 23rd. Zacks Investment Research upgraded shares of LTC Properties from a sell rating to a hold rating in a research note on Wednesday, May 17th. Finally, Hilliard Lyons upgraded shares of LTC Properties from an underperform rating to a neutral rating in a research note on Wednesday, May 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $50.60.
LTC Properties (NYSE LTC) traded up 0.33% during midday trading on Friday, reaching $48.32. 92,693 shares of the company traded hands. LTC Properties has a 12-month low of $43.17 and a 12-month high of $54.20. The stock has a market capitalization of $1.91 billion, a P/E ratio of 21.24 and a beta of 0.12. The company has a 50 day moving average of $49.82 and a 200-day moving average of $48.58.
LTC Properties (NYSE:LTC) last released its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $42.47 million for the quarter, compared to the consensus estimate of $35.08 million. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. Equities analysts anticipate that LTC Properties will post $2.19 EPS for the current fiscal year.
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The company also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Monday, August 21st. LTC Properties’s payout ratio is 100.00%.
Institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. boosted its position in LTC Properties by 0.9% in the second quarter. Pinebridge Investments L.P. now owns 5,213 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 49 shares in the last quarter. People s United Financial Inc. boosted its position in LTC Properties by 0.9% in the second quarter. People s United Financial Inc. now owns 17,639 shares of the real estate investment trust’s stock valued at $907,000 after buying an additional 150 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in LTC Properties by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 200 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in 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 valued at $105,000 after buying an additional 231 shares in the last quarter. Finally, Texas Permanent School Fund boosted its position in LTC Properties by 0.8% in the second quarter. Texas Permanent School Fund now owns 28,892 shares of the real estate investment trust’s stock valued at $1,485,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.
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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