Weekly Investment Analysts’ Ratings Updates for LTC Properties (LTC)

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Several brokerages have updated their recommendations and price targets on shares of LTC Properties (NYSE: LTC) in the last few weeks:

  • 8/18/2018 – LTC Properties was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 8/15/2018 – LTC Properties was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 8/14/2018 – LTC Properties was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $48.00 price target on the stock. 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. “
  • 8/9/2018 – LTC Properties was given a new $43.00 price target on by analysts at Stifel Nicolaus. They now have a “hold” rating on the stock.
  • 8/9/2018 – LTC Properties had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $46.00 price target on the stock, up previously from $45.00. They wrote, “We are reiterating our Overweight rating on LTC, and we are raising price target to $46 from $45, and raising our 2018-19 outlook modesly on evidence that Anthem is stabilizing and its increased liquidity, which we believe could herald some pickup in acquisitions, after a relatively long slow spell. LTC’s 2Q18 numbers were in-line with our estimates, although normalized AFFO was higher (lower straight line rent), and the company raised its FFO guidance by $0.03. LTC was relatively active in 2Q18, selling the Sunrise portfolio (six properties), establishing relationships with five new private pay regional operators, acquiring two memory care communities in Texas, and amending its credit agreement.””

NYSE:LTC opened at $46.10 on Thursday. The stock has a market capitalization of $1.80 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 3.76 and a beta of 0.13. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 0.81. LTC Properties Inc has a 1-year low of $34.46 and a 1-year high of $49.59.

LTC Properties (NYSE:LTC) last released its earnings results on Wednesday, August 8th. The real estate investment trust reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.98. The firm had revenue of $33.93 million for the quarter, compared to the consensus estimate of $34.55 million. LTC Properties had a net margin of 77.94% and a return on equity of 16.84%. analysts forecast that LTC Properties Inc will post 3.01 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 20th will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Wednesday, September 19th. LTC Properties’s dividend payout ratio is presently 73.55%.

A number of hedge funds have recently made changes to their positions in LTC. Itau Unibanco Holding S.A. purchased a new stake in LTC Properties during the 2nd quarter valued at about $191,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of LTC Properties during the 2nd quarter valued at about $201,000. Pitcairn Co. purchased a new stake in shares of LTC Properties during the 2nd quarter valued at about $205,000. Janney Montgomery Scott LLC purchased a new stake in shares of LTC Properties during the 2nd quarter valued at about $206,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of LTC Properties during the 2nd quarter valued at about $218,000. 76.17% of the stock is currently owned by institutional investors.

LTC Properties (NYSE: 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 preferred equity and mezzanine lending. At June 30, 2018, LTC had 199 investments located in 28 states comprising 102 assisted living communities, 96 skilled nursing centers and one behavioral health care hospital.

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