LTC Properties Inc. (LTC) Lowered to Sell at Zacks Investment Research
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. “
Several other research analysts also recently commented on the stock. Hilliard Lyons downgraded shares of LTC Properties from a neutral rating to an underperform rating in a research note on Wednesday, June 29th. Canaccord Genuity lifted their price target on shares of LTC Properties from $54.00 to $58.00 and gave the stock a buy rating in a research note on Monday, August 15th. Royal Bank Of Canada downgraded shares of LTC Properties from an outperform rating to a sector perform rating and set a $50.00 target price on the stock. in a research note on Friday, June 17th. Cantor Fitzgerald reaffirmed a buy rating on shares of LTC Properties in a research note on Friday, September 9th. Finally, Mizuho downgraded shares of LTC Properties from a buy rating to a neutral rating and set a $53.00 target price on the stock. in a research note on Monday, July 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $53.00.
Shares of LTC Properties (NYSE:LTC) traded down 0.76% during trading on Wednesday, reaching $48.53. 70,384 shares of the company’s stock traded hands. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 22.99 and a beta of 0.36. LTC Properties has a 52-week low of $40.02 and a 52-week high of $54.20. The company’s 50-day moving average is $51.86 and its 200 day moving average is $49.65.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $40 million for the quarter, compared to the consensus estimate of $33.66 million. LTC Properties had a net margin of 52.62% and a return on equity of 11.83%. During the same period last year, the firm posted $0.67 earnings per share. Equities analysts forecast that LTC Properties will post $3.06 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Tuesday, November 22nd will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Friday, November 18th. LTC Properties’s dividend payout ratio (DPR) is 102.37%.
In other LTC Properties news, Director Timothy Triche sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $52.13, for a total value of $104,260.00. Following the completion of the transaction, the director now owns 36,188 shares of the company’s stock, valued at approximately $1,886,480.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. BlackRock Japan Co. Ltd raised its stake in LTC Properties by 1.9% in the second quarter. BlackRock Japan Co. Ltd now owns 2,017 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 37 shares during the last quarter. Societe Generale acquired a new stake in LTC Properties during the second quarter valued at approximately $131,000. Tower Research Capital LLC TRC raised its stake in LTC Properties by 1,009.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,773 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 2,523 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in LTC Properties by 469.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,989 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 2,464 shares during the last quarter. Finally, Invictus RG acquired a new stake in LTC Properties during the second quarter valued at approximately $154,000. 82.89% of the stock is owned by institutional investors and hedge funds.
About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
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