LTC Properties, Inc. (LTC) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of LTC Properties, Inc. (NYSE:LTC) from a sell rating to a hold rating in a research report report published on Friday morning.
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 also recently commented on LTC. Royal Bank Of Canada reiterated a hold rating and issued a $50.00 price objective on shares of LTC Properties in a report on Tuesday, June 27th. Mizuho reiterated a neutral rating on shares of LTC Properties in a report on Wednesday, June 28th. BidaskClub upgraded LTC Properties from a hold rating to a buy rating in a report on Wednesday, June 28th. Stifel Nicolaus reiterated a hold rating and issued a $50.00 price objective on shares of LTC Properties in a report on Friday, July 28th. Finally, BMO Capital Markets downgraded LTC Properties from a market perform rating to an underperform rating and decreased their price objective for the stock from $50.00 to $44.00 in a report on Friday, August 11th. 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. The company presently has a consensus rating of Hold and a consensus price target of $50.50.
LTC Properties (NYSE:LTC) opened at 47.05 on Friday. The firm has a 50-day moving average price of $48.71 and a 200-day moving average price of $48.79. LTC Properties has a one year low of $43.17 and a one year high of $53.08. The firm has a market cap of $1.86 billion, a PE ratio of 21.34 and a beta of 0.15.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. The firm had revenue of $42.47 million during the quarter, compared to analyst estimates of $35.08 million. On average, equities analysts expect that LTC Properties will post $2.18 EPS for the current fiscal year.
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The business also recently disclosed a monthly dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd were issued a $0.19 dividend. The ex-dividend date was Monday, August 21st. This represents a $2.28 annualized dividend and a dividend yield of 4.91%. LTC Properties’s dividend payout ratio is currently 100.00%.
A number of large investors have recently made changes to their positions in LTC. BlackRock Inc. increased its holdings in LTC Properties by 10,627.1% during the 1st quarter. BlackRock Inc. now owns 6,085,392 shares of the real estate investment trust’s stock valued at $291,489,000 after purchasing an additional 6,028,663 shares during the period. Uniplan Investment Counsel Inc. increased its holdings in LTC Properties by 89.0% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,324,700 shares of the real estate investment trust’s stock valued at $36,538,000 after purchasing an additional 623,870 shares during the period. Koch Industries Inc. purchased a new position in LTC Properties during the 2nd quarter valued at about $362,000. Victory Capital Management Inc. increased its holdings in LTC Properties by 31.9% during the 1st quarter. Victory Capital Management Inc. now owns 988,880 shares of the real estate investment trust’s stock valued at $47,367,000 after purchasing an additional 239,198 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in LTC Properties during the 2nd quarter valued at about $8,975,000. Institutional investors own 81.48% 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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