ValuEngine upgraded shares of LTC Properties (NYSE:LTC) from a sell rating to a hold rating in a research note published on Wednesday.
Several other analysts have also recently issued reports on the company. Royal Bank of Canada cut LTC Properties from a sector perform rating to an underperform rating and set a $38.00 price objective on the stock. in a research note on Wednesday, May 23rd. Cantor Fitzgerald restated a buy rating and set a $45.00 price objective on shares of LTC Properties in a research note on Thursday, May 10th. Zacks Investment Research upgraded LTC Properties from a sell rating to a hold rating in a research note on Friday, May 18th. TheStreet upgraded LTC Properties from a c+ rating to a b- rating in a research note on Thursday, June 28th. Finally, Stifel Nicolaus set a $43.00 price objective on LTC Properties and gave the company a hold rating in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $43.57.
Shares of NYSE LTC opened at $45.82 on Wednesday. LTC Properties has a 52-week low of $34.46 and a 52-week high of $49.59. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 3.58 and a beta of 0.13. The company has a debt-to-equity ratio of 0.81, a quick ratio of 8.26 and a current ratio of 8.26.
LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.98. LTC Properties had a return on equity of 16.84% and a net margin of 77.94%. The firm had revenue of $33.93 million for the quarter, compared to analysts’ expectations of $34.55 million. equities research analysts predict that LTC Properties will post 3.01 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 20th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Wednesday, September 19th. LTC Properties’s payout ratio is 73.55%.
Institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of LTC Properties during the 2nd quarter worth approximately $191,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of LTC Properties during the 2nd quarter worth approximately $201,000. Pitcairn Co. acquired a new stake in shares of LTC Properties during the 2nd quarter worth approximately $205,000. Janney Montgomery Scott LLC acquired a new stake in shares of LTC Properties during the 2nd quarter worth approximately $206,000. Finally, Jane Street Group LLC acquired a new stake in shares of LTC Properties during the 4th quarter worth approximately $212,000. Institutional investors and hedge funds own 80.08% of the company’s stock.
LTC Properties Company Profile
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At March 31, 2018, LTC had 203 investments located in 29 states comprising 105 assisted living communities, 97 skilled nursing centers and a behavioral health care hospital.
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