LTC Properties (NYSE:LTC) Rating Increased to Hold at Zacks Investment Research

LTC Properties (NYSE:LTCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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 research analysts have also issued reports on the stock. StockNews.com started coverage on shares of LTC Properties in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Royal Bank of Canada raised shares of LTC Properties from an “underperform” rating to a “sector perform” rating and increased their target price for the stock from $34.00 to $37.00 in a research note on Monday, March 14th. Finally, Credit Suisse Group increased their target price on shares of LTC Properties from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, April 1st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.00.

Shares of NYSE:LTC traded down $0.14 during trading on Wednesday, reaching $36.60. The stock had a trading volume of 155,203 shares, compared to its average volume of 316,247. The firm’s fifty day moving average is $35.57 and its 200 day moving average is $34.47. The company has a debt-to-equity ratio of 0.97, a quick ratio of 11.94 and a current ratio of 11.94. LTC Properties has a 52 week low of $31.36 and a 52 week high of $43.88. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 25.96 and a beta of 0.93.

LTC Properties (NYSE:LTCGet Rating) last issued its earnings results on Thursday, February 17th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.25). LTC Properties had a return on equity of 7.34% and a net margin of 35.74%. During the same quarter in the prior year, the business earned $0.78 EPS. On average, research analysts forecast that LTC Properties will post 2.52 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp raised its holdings in LTC Properties by 240.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 988 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 698 shares during the last quarter. TAP Consulting LLC purchased a new stake in shares of LTC Properties in the fourth quarter valued at about $47,000. Vigilant Capital Management LLC purchased a new stake in shares of LTC Properties in the fourth quarter valued at about $51,000. Point72 Hong Kong Ltd purchased a new stake in shares of LTC Properties in the third quarter valued at about $49,000. Finally, Corsicana & Co. raised its holdings in shares of LTC Properties by 100.0% in the fourth quarter. Corsicana & Co. now owns 2,000 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

LTC Properties Company Profile (Get Rating)

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds 181 investments in 27 states with 29 operating partners.

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