LTC Properties, Inc. (LTC) Lifted to “Hold” at BidaskClub
BidaskClub upgraded shares of LTC Properties, Inc. (NYSE:LTC) from a sell rating to a hold rating in a research report released on Saturday morning.
A number of other analysts also recently issued reports on LTC. Stifel Nicolaus set a $46.00 price target on shares of LTC Properties and gave the stock a hold rating in a report on Sunday, August 13th. BMO Capital Markets downgraded shares of LTC Properties from a market perform rating to an underperform rating and cut their price target for the stock from $50.00 to $44.00 in a report on Friday, August 11th. Zacks Investment Research downgraded shares of LTC Properties from a hold rating to a sell rating in a report on Wednesday, August 16th. Mizuho restated a neutral rating on shares of LTC Properties in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada restated a hold rating and set a $50.00 price target on shares of LTC Properties in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $50.60.
LTC Properties (LTC) opened at 47.65 on Friday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 20.95 and a beta of 0.12. The stock’s 50 day moving average price is $49.82 and its 200 day moving average price is $48.58. LTC Properties has a 12 month low of $43.17 and a 12 month high of $54.20.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The business had revenue of $42.47 million during 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 research analysts anticipate that LTC Properties will post $2.19 earnings per share for the current fiscal year.
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The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Investors 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 annualized dividend and a yield of 4.78%. LTC Properties’s dividend payout ratio (DPR) is presently 100.00%.
Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 valued at $109,000 after buying an additional 256 shares during the period. Daiwa Securities Group Inc. increased its stake in 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 valued at $153,000 after buying an additional 900 shares during the period. Ameritas Investment Partners Inc. bought a new stake in LTC Properties during the first quarter valued at $156,000. Finally, Riverhead Capital Management LLC increased its stake in 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 valued at $157,000 after buying an additional 1,464 shares during the period. Hedge funds and other institutional investors own 81.37% 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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