LTC Properties (LTC) Rating Lowered to Hold at Zacks Investment Research

LTC Properties (NYSE:LTC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

Other research analysts have also issued reports about the company. KeyCorp reissued a “hold” rating on shares of LTC Properties in a report on Sunday, September 17th. ValuEngine lowered LTC Properties from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Royal Bank of Canada reissued a “hold” rating and set a $48.00 target price on shares of LTC Properties in a report on Monday, October 23rd. Capital One Financial started coverage on LTC Properties in a report on Monday, September 25th. They set an “overweight” rating and a $50.00 target price on the stock. Finally, BMO Capital Markets reissued a “sell” rating and set a $44.00 target price on shares of LTC Properties in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. LTC Properties currently has an average rating of “Hold” and an average price target of $49.71.

LTC Properties (LTC) opened at $40.39 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. The firm has a market capitalization of $1,598.27, a P/E ratio of 18.11, a P/E/G ratio of 3.22 and a beta of 0.17. LTC Properties has a 1-year low of $40.29 and a 1-year high of $52.85.

LTC Properties (NYSE:LTC) last posted its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.26. The business had revenue of $41.25 million for the quarter, compared to analyst estimates of $32.91 million. LTC Properties had a return on equity of 11.69% and a net margin of 52.18%. During the same period in the previous year, the firm earned $0.57 EPS. analysts anticipate that LTC Properties will post 3.08 earnings per share for the current fiscal year.

In other news, Director James Pieczynski acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were purchased at an average cost of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now directly owns 17,974 shares in the company, valued at approximately $783,666.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Boyd W. Hendrickson sold 1,500 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $47.07, for a total value of $70,605.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,727 shares of company stock worth $436,470. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in LTC Properties by 12.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 231 shares in the last quarter. Quantbot Technologies LP acquired a new position in LTC Properties in the 3rd quarter valued at $139,000. Riverhead Capital Management LLC grew its holdings in LTC Properties by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 1,464 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in LTC Properties by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 200 shares in the last quarter. Finally, Shelton Capital Management acquired a new position in LTC Properties in the 2nd quarter valued at $202,000. 77.52% of the stock is currently owned by hedge funds and other institutional investors.

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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).

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