Zacks Investment Research upgraded shares of LTC Properties, Inc. (NYSE:LTC) from a sell rating to a hold rating in a research report report published on Thursday.
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. “
LTC has been the subject of a number of other research reports. BidaskClub raised shares of LTC Properties from a sell rating to a hold rating in a report on Saturday, August 26th. BMO Capital Markets cut shares of LTC Properties from a market perform rating to an underperform rating and decreased their price target for the stock from $50.00 to $44.00 in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed a hold rating and issued a $50.00 price target on shares of LTC Properties in a report on Tuesday, May 23rd. 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. Finally, Mizuho reaffirmed a neutral rating on shares of LTC Properties in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. LTC Properties has a consensus rating of Hold and an average target price of $50.60.
Shares of LTC Properties (NYSE LTC) opened at 48.93 on Thursday. The company has a market cap of $1.94 billion, a P/E ratio of 21.51 and a beta of 0.15. The firm has a 50-day moving average of $48.91 and a 200-day moving average of $48.77. LTC Properties has a 52-week low of $43.17 and a 52-week high of $53.08.
LTC Properties (NYSE:LTC) last posted its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. The company had revenue of $42.47 million during the quarter, compared to analysts’ expectations of $35.08 million. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. Equities research analysts forecast that LTC Properties will post $2.18 earnings per share for the current year.
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The business also recently declared a monthly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 23rd were issued a $0.19 dividend. The ex-dividend date was Monday, August 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.66%. LTC Properties’s dividend payout ratio is currently 100.00%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its stake in shares of LTC Properties by 1.2% in the first quarter. Bank of Montreal Can now owns 35,035 shares of the real estate investment trust’s stock worth $1,678,000 after acquiring an additional 406 shares during the period. ProShare Advisors LLC increased its stake in shares of LTC Properties by 180.0% in the first quarter. ProShare Advisors LLC now owns 19,396 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 12,470 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of LTC Properties by 1.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 38,311 shares of the real estate investment trust’s stock worth $1,835,000 after acquiring an additional 729 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of 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 worth $153,000 after acquiring an additional 900 shares during the period. Finally, US Bancorp DE increased its stake in shares of LTC Properties by 1.9% in the first quarter. US Bancorp DE now owns 24,048 shares of the real estate investment trust’s stock worth $1,152,000 after acquiring an additional 438 shares during the period. 81.37% of the stock is owned by institutional investors and hedge funds.
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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