LTC Properties, Inc. (LTC) Cut to “Sell” at Zacks Investment Research
LTC Properties, Inc. (NYSE:LTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
LTC has been the topic of a number of other reports. BidaskClub lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a research report on Saturday. BMO Capital Markets lowered shares of LTC Properties from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $50.00 to $44.00 in a research report on Friday, August 11th. Stifel Nicolaus set a $46.00 price objective on shares of LTC Properties and gave the company a “hold” rating in a research report on Sunday. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 price objective on shares of LTC Properties in a research report on Tuesday, May 23rd. Finally, Hilliard Lyons upgraded shares of LTC Properties from an “underperform” rating to a “neutral” rating in a research report on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $50.60.
LTC Properties (NYSE:LTC) traded up 1.86% during mid-day trading on Wednesday, hitting $48.21. 230,419 shares of the stock traded hands. The company has a 50 day moving average of $50.50 and a 200-day moving average of $48.51. The stock has a market cap of $1.91 billion, a PE ratio of 21.19 and a beta of 0.12. LTC Properties has a 12-month low of $43.17 and a 12-month high of $54.20.
LTC Properties (NYSE:LTC) last announced its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $42.47 million for the quarter, compared to analyst estimates of $35.08 million. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. Equities research analysts forecast that LTC Properties will post $2.20 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of LTC. PNC Financial Services Group Inc. raised its position in LTC Properties by 12.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 231 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of LTC Properties by 12.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 256 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of LTC Properties by 39.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 900 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of LTC Properties during the first quarter valued at approximately $156,000. Finally, Riverhead Capital Management LLC raised its stake in shares of LTC Properties by 91.5% in the second 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 during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.
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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