LTC Properties, Inc. (LTC) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of LTC Properties, Inc. (NYSE:LTC) from a hold rating to a sell rating in a report published on Tuesday.
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 equities analysts have also weighed in on the stock. Hilliard Lyons upgraded shares of LTC Properties from an underperform rating to a neutral rating in a report on Wednesday, May 10th. Canaccord Genuity restated a buy rating and set a $58.00 target price on shares of LTC Properties in a report on Tuesday, May 9th. BMO Capital Markets reiterated a hold rating and issued a $50.00 price objective on shares of LTC Properties in a report on Tuesday, May 9th. Royal Bank Of Canada reiterated a hold rating and issued a $50.00 price objective on shares of LTC Properties in a report on Tuesday, May 23rd. Finally, BidaskClub lowered shares of LTC Properties from a buy rating to a hold rating in a report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $52.60.
LTC Properties (NYSE LTC) traded down 0.51% on Tuesday, reaching $50.80. The company’s stock had a trading volume of 145,324 shares. LTC Properties has a 52 week low of $43.17 and a 52 week high of $54.20. The firm has a 50 day moving average price of $50.89 and a 200 day moving average price of $48.37. The stock has a market capitalization of $2.01 billion, a P/E ratio of 22.91 and a beta of 0.12.
LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, May 8th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.24. LTC Properties had a net margin of 52.17% and a return on equity of 11.66%. The company had revenue of $42.62 million for the quarter, compared to analysts’ expectations of $34.82 million. On average, equities analysts anticipate that LTC Properties will post $2.21 EPS for the current year.
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The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 23rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $2.28 dividend on an annualized basis and a yield of 4.49%. LTC Properties’s dividend payout ratio is currently 102.70%.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in LTC Properties by 10,627.1% in the first quarter. BlackRock Inc. now owns 6,085,392 shares of the real estate investment trust’s stock valued at $291,489,000 after buying an additional 6,028,663 shares during the period. Norges Bank bought a new position in LTC Properties during the fourth quarter valued at about $18,524,000. Victory Capital Management Inc. boosted its position in LTC Properties by 31.9% in the first quarter. Victory Capital Management Inc. now owns 988,880 shares of the real estate investment trust’s stock valued at $47,367,000 after buying an additional 239,198 shares during the period. Vanguard Group Inc. boosted its position in LTC Properties by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,409,468 shares of the real estate investment trust’s stock valued at $307,014,000 after buying an additional 158,054 shares during the period. Finally, Dean Investment Associates LLC bought a new position in LTC Properties during the first quarter valued at about $6,539,000. Institutional investors and hedge funds own 83.24% 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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