LTC Properties (NYSE:LTC) Receives Sector Perform Rating from Royal Bank of Canada

LTC Properties (NYSE:LTC)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a report issued on Monday,Benzinga reports. They presently have a $36.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 0.13% from the company’s previous close.

Separately, Wells Fargo & Company dropped their price target 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 equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, LTC Properties presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

LTC Properties Stock Performance

Shares of LTC traded down $0.04 during trading hours on Monday, reaching $35.96. 108,253 shares of the company’s stock traded hands, compared to its average volume of 309,409. LTC Properties has a twelve month low of $31.70 and a twelve month high of $39.89. The business’s fifty day simple moving average is $35.15 and its two-hundred day simple moving average is $35.61. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.43 and a beta of 0.68.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. Analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

Hedge Funds Weigh In On LTC Properties

A number of hedge funds have recently modified their holdings of LTC. Barclays PLC increased its stake in shares of LTC Properties by 148.8% during the 3rd quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust’s stock worth $3,228,000 after purchasing an additional 52,619 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of LTC Properties in the fourth quarter worth about $250,000. Bank of New York Mellon Corp grew its holdings in LTC Properties by 6.1% in the 4th quarter. Bank of New York Mellon Corp now owns 962,651 shares of the real estate investment trust’s stock valued at $33,260,000 after buying an additional 55,254 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of LTC Properties by 7.6% in the fourth quarter. Principal Financial Group Inc. now owns 246,663 shares of the real estate investment trust’s stock valued at $8,522,000 after acquiring an additional 17,487 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in LTC Properties in the 4th quarter valued at $464,000. 69.25% of the stock is owned by institutional investors and hedge funds.

About LTC Properties

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.