LTC Properties, Inc. (LTC) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of LTC Properties, Inc. (NYSE:LTC) from a hold rating to a sell rating in a report published on Saturday.
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 research firms have also weighed in on LTC. Stifel Nicolaus reiterated a hold rating and issued a $50.00 price objective on shares of LTC Properties in a research note on Friday, July 28th. KeyCorp reiterated a hold rating on shares of LTC Properties in a research note on Sunday, September 17th. BidaskClub upgraded shares of LTC Properties from a sell rating to a hold rating in a research note on Saturday, August 26th. BMO Capital Markets lowered shares of LTC Properties from a market perform rating to an underperform rating and reduced their price objective for the company from $50.00 to $44.00 in a research note on Friday, August 11th. Finally, Royal Bank Of Canada reiterated a hold rating and issued a $48.00 price objective on shares of LTC Properties in a research note on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $50.17.
Shares of LTC Properties (NYSE:LTC) opened at $48.00 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 8.66 and a current ratio of 8.66. LTC Properties has a one year low of $43.91 and a one year high of $52.85. The stock has a market cap of $1,884.76, a P/E ratio of 15.31, a PEG ratio of 3.88 and a beta of 0.18.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.26. LTC Properties had a net margin of 52.18% and a return on equity of 11.69%. The company had revenue of $41.25 million during the quarter, compared to analyst estimates of $32.91 million. During the same quarter last year, the business posted $0.57 EPS. research analysts expect that LTC Properties will post 3.07 earnings per share for the current year.
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The company also recently declared a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 22nd will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 4.75%. The ex-dividend date is Tuesday, November 21st. LTC Properties’s payout ratio is 102.24%.
Large investors have recently made changes to their positions in the business. Summit Global Investments boosted its holdings in LTC Properties by 30.8% in the 2nd quarter. Summit Global Investments now owns 10,200 shares of the real estate investment trust’s stock valued at $524,000 after purchasing an additional 2,400 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of LTC Properties by 20.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,031 shares of the real estate investment trust’s stock worth $1,338,000 after acquiring an additional 4,349 shares during the last quarter. AXA lifted its holdings in shares of LTC Properties by 57.4% during the 2nd quarter. AXA now owns 82,265 shares of the real estate investment trust’s stock worth $4,228,000 after acquiring an additional 30,000 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of LTC Properties during the 1st quarter worth $1,068,000. Finally, Bank of America Corp DE lifted its holdings in shares of LTC Properties by 25.7% during the 1st quarter. Bank of America Corp DE now owns 192,960 shares of the real estate investment trust’s stock worth $9,243,000 after acquiring an additional 39,397 shares during the last quarter. 80.63% of the stock is owned by hedge funds and other institutional investors.
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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