LTC Properties (NYSE:LTC) Upgraded at Citizens Jmp

LTC Properties (NYSE:LTC) was upgraded by Citizens Jmp from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

LTC has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Finally, JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, LTC Properties currently has a consensus rating of “Moderate Buy” and an average target price of $37.75.

LTC Properties Trading Up 2.0 %

NYSE:LTC opened at $34.12 on Tuesday. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties has a 1-year low of $30.30 and a 1-year high of $39.89. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 14.64 and a beta of 0.93. The business’s 50-day moving average price is $37.05 and its two-hundred day moving average price is $36.40.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, equities analysts expect that LTC Properties will post 2.79 earnings per share for the current year.

Insider Transactions at LTC Properties

In related news, Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now owns 21,516 shares in the company, valued at $799,534.56. This represents a 16.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clint B. Malin sold 6,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the sale, the insider now directly owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in LTC Properties in the 3rd quarter valued at about $36,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LTC Properties by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 437 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of LTC Properties by 25.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 366 shares during the period. FMR LLC increased its holdings in shares of LTC Properties by 132.7% in the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 1,653 shares during the last quarter. Finally, Community Trust & Investment Co. acquired a new position in LTC Properties in the 3rd quarter valued at about $202,000. Institutional investors own 69.25% of the company’s stock.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.