LTC Properties (NYSE:LTC) Given Sector Perform Rating at Royal Bank of Canada

LTC Properties (NYSE:LTC)‘s stock had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada in a report issued on Monday,Benzinga reports. They presently have a $36.00 target price on the real estate investment trust’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 0.28% from the stock’s previous close.

Separately, Wells Fargo & Company decreased their target price on shares of LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, LTC Properties has an average rating of “Moderate Buy” and an average price target of $38.00.

LTC Properties Trading Down 0.7%

Shares of LTC opened at $35.90 on Monday. 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 12-month low of $31.70 and a 12-month high of $39.89. The firm has a 50-day moving average price of $35.18 and a 200 day moving average price of $35.61. The firm has a market capitalization of $1.65 billion, a P/E ratio of 15.41 and a beta of 0.68.

LTC Properties (NYSE:LTC) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. During the same period in the previous year, the company earned $0.69 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. Sell-side analysts forecast that LTC Properties will post 2.79 EPS for the current year.

Institutional Trading of LTC Properties

Several hedge funds have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its stake in LTC Properties by 4.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 314 shares during the period. Amalgamated Bank increased its stake in shares of LTC Properties by 2.5% during the fourth quarter. Amalgamated Bank now owns 13,135 shares of the real estate investment trust’s stock worth $454,000 after acquiring an additional 315 shares during the period. Summit Investment Advisors Inc. lifted its position in LTC Properties by 7.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,678 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 327 shares during the period. Keudell Morrison Wealth Management lifted its position in LTC Properties by 0.9% in the first quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust’s stock valued at $1,301,000 after purchasing an additional 328 shares during the period. Finally, Arizona State Retirement System lifted its position in LTC Properties by 2.9% in the first quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds 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.