LTC Properties (NYSE:LTC) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of LTC Properties (NYSE:LTCGet Rating) from an underperform rating to a market perform rating in a research report sent to investors on Tuesday, Marketbeat.com reports. BMO Capital Markets currently has $40.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $37.00.

Several other research analysts also recently commented on LTC. Royal Bank of Canada upgraded LTC Properties from an underperform rating to a sector perform rating and lifted their target price for the stock from $34.00 to $37.00 in a research note on Monday, March 14th. Barclays assumed coverage on LTC Properties in a research note on Tuesday, April 26th. They set an underweight rating and a $30.00 target price for the company. Credit Suisse Group lifted their target price on LTC Properties from $35.00 to $38.00 and gave the stock a neutral rating in a research note on Friday, April 1st. StockNews.com assumed coverage on LTC Properties in a research note on Thursday, March 31st. They set a hold rating for the company. Finally, Capital One Financial assumed coverage on LTC Properties in a research note on Friday, June 3rd. They set an equal weight rating and a $41.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $37.20.

NYSE:LTC opened at $38.70 on Tuesday. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 27.25 and a beta of 0.95. LTC Properties has a twelve month low of $31.36 and a twelve month high of $40.33. The stock’s 50 day moving average price is $36.71 and its two-hundred day moving average price is $35.72. The company has a quick ratio of 15.55, a current ratio of 15.55 and a debt-to-equity ratio of 1.03.

LTC Properties (NYSE:LTCGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.26). The company had revenue of $40.80 million for the quarter, compared to analyst estimates of $37.08 million. LTC Properties had a return on equity of 7.48% and a net margin of 36.03%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. As a group, analysts anticipate that LTC Properties will post 2.55 earnings per share for the current year.

The company also recently declared a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 22nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, June 21st. This represents a $2.28 annualized dividend and a yield of 5.89%. LTC Properties’s dividend payout ratio (DPR) is presently 160.56%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LTC. Bank of America Corp DE raised its holdings in LTC Properties by 3.4% in the 1st quarter. Bank of America Corp DE now owns 98,307 shares of the real estate investment trust’s stock valued at $3,782,000 after acquiring an additional 3,228 shares in the last quarter. Bridge City Capital LLC raised its holdings in LTC Properties by 93.7% in the 1st quarter. Bridge City Capital LLC now owns 32,591 shares of the real estate investment trust’s stock valued at $1,254,000 after acquiring an additional 15,762 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in LTC Properties in the 1st quarter valued at $9,948,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in LTC Properties in the 1st quarter valued at $263,000. Finally, Royal Bank of Canada raised its holdings in LTC Properties by 12.4% in the 1st quarter. Royal Bank of Canada now owns 61,528 shares of the real estate investment trust’s stock valued at $2,366,000 after acquiring an additional 6,784 shares in the last quarter. Institutional investors and hedge funds own 72.14% 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.

Further Reading

Analyst Recommendations for LTC Properties (NYSE:LTC)

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