Barclays Begins Coverage on LTC Properties (NYSE:LTC)

Investment analysts at Barclays assumed coverage on shares of LTC Properties (NYSE:LTCGet Rating) in a note issued to investors on Tuesday, Briefing.com reports. The firm set an “underweight” rating and a $30.00 price target on the real estate investment trust’s stock. Barclays‘s target price would suggest a potential downside of 15.97% from the stock’s current price.

LTC has been the subject of several other reports. StockNews.com started coverage on shares of LTC Properties in a report on Thursday, March 31st. They set a “hold” rating for the company. Credit Suisse Group lifted their price target on shares of LTC Properties from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, April 1st. Royal Bank of Canada raised shares of LTC Properties from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $34.00 to $37.00 in a report on Monday, March 14th. Finally, Zacks Investment Research lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.60.

Shares of LTC stock opened at $35.70 on Tuesday. The firm has a market cap of $1.41 billion, a P/E ratio of 25.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.97, a current ratio of 11.94 and a quick ratio of 11.94. LTC Properties has a 1-year low of $31.36 and a 1-year high of $43.67. The firm has a fifty day moving average of $36.05 and a two-hundred day moving average of $34.73.

LTC Properties (NYSE:LTCGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The real estate investment trust reported $0.32 earnings per share 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 last year, the business earned $0.78 EPS. On average, sell-side analysts expect that LTC Properties will post 2.52 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Exane Derivatives bought a new stake in LTC Properties in the 1st quarter valued at about $193,000. Virginia Retirement Systems ET AL bought a new stake in LTC Properties in the 1st quarter valued at about $515,000. Albert D Mason Inc. bought a new stake in LTC Properties in the 1st quarter valued at about $314,000. Redpoint Investment Management Pty Ltd bought a new stake in LTC Properties in the 1st quarter valued at about $256,000. Finally, Maryland State Retirement & Pension System lifted its position in LTC Properties by 2.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 15,926 shares of the real estate investment trust’s stock valued at $613,000 after purchasing an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

About LTC Properties (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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