LTC Properties’ (LTC) “Hold” Rating Reaffirmed at KeyCorp

LTC Properties, Inc. (NYSE:LTC)‘s stock had its “hold” rating reaffirmed by analysts at KeyCorp in a research report issued on Sunday.

Several other brokerages have also recently issued reports on LTC. Zacks Investment Research cut LTC Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub raised LTC Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Mizuho reissued a “neutral” rating on shares of LTC Properties in a research note on Wednesday, June 28th. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 price objective on shares of LTC Properties in a research note on Tuesday, June 27th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $50.00 price objective on shares of LTC Properties in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. LTC Properties presently has an average rating of “Hold” and a consensus target price of $50.60.

Shares of LTC Properties (NYSE:LTC) opened at 48.93 on Friday. The company’s 50 day moving average price is $48.91 and its 200 day moving average price is $48.77. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 21.51 and a beta of 0.15. LTC Properties has a 52-week low of $43.17 and a 52-week high of $53.08.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. The company had revenue of $42.47 million for the quarter, compared to analysts’ expectations of $35.08 million. On average, analysts predict that LTC Properties will post $2.18 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in LTC. ProShare Advisors LLC boosted its position in LTC Properties by 180.0% during the 1st quarter. ProShare Advisors LLC now owns 19,396 shares of the real estate investment trust’s stock valued at $252,000 after acquiring an additional 12,470 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in LTC Properties by 1.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 38,311 shares of the real estate investment trust’s stock valued at $1,835,000 after acquiring an additional 729 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in LTC Properties by 39.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 900 shares in the last quarter. US Bancorp DE boosted its position in LTC Properties by 1.9% during the 1st quarter. US Bancorp DE now owns 24,048 shares of the real estate investment trust’s stock valued at $1,152,000 after acquiring an additional 438 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in LTC Properties by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 680,524 shares of the real estate investment trust’s stock valued at $32,596,000 after acquiring an additional 25,486 shares in the last quarter. 81.37% of the stock is currently owned by institutional investors and hedge funds.

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).

Analyst Recommendations for LTC Properties (NYSE:LTC)

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