LTC Properties (LTC) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of LTC Properties (NYSE:LTC) from a sell rating to a hold rating in a report issued on Tuesday.

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. “

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Several other equities analysts have also commented on LTC. Mizuho dropped their price target on shares of LTC Properties from $51.00 to $41.00 and set a neutral rating for the company in a research report on Monday, March 5th. Cantor Fitzgerald reaffirmed a buy rating and set a $52.00 price target on shares of LTC Properties in a research report on Thursday, March 1st. Stifel Nicolaus set a $40.00 price target on shares of LTC Properties and gave the stock a hold rating in a research report on Thursday, March 1st. TheStreet lowered shares of LTC Properties from a b- rating to a c+ rating in a research report on Tuesday, February 27th. Finally, ValuEngine lowered shares of LTC Properties from a buy rating to a hold rating in a research report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $46.88.

LTC Properties (LTC) opened at $39.38 on Tuesday. LTC Properties has a 52-week low of $36.90 and a 52-week high of $52.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 8.25 and a current ratio of 8.25. The company has a market cap of $1,560.00, a P/E ratio of 17.90, a P/E/G ratio of 3.16 and a beta of 0.17.

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.28 annualized dividend and a yield of 5.79%. LTC Properties’s dividend payout ratio is currently 103.64%.

In other LTC Properties news, Director Timothy Triche sold 2,720 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $43.35, for a total transaction of $117,912.00. Following the completion of the sale, the director now directly owns 34,656 shares in the company, valued at $1,502,337.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Boyd W. Hendrickson sold 2,787 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $46.66, for a total transaction of $130,041.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,727 shares of company stock valued at $436,470. 1.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LTC. Quantbot Technologies LP purchased a new stake in LTC Properties during the third quarter worth approximately $139,000. Macquarie Group Ltd. boosted its stake in shares of LTC Properties by 18.3% in the fourth quarter. Macquarie Group Ltd. now owns 16,125 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 2,500 shares during the period. Jane Street Group LLC purchased a new position in shares of LTC Properties in the fourth quarter valued at $212,000. Intrust Bank NA purchased a new position in shares of LTC Properties in the third quarter valued at $232,000. Finally, GSA Capital Partners LLP purchased a new position in shares of LTC Properties in the third quarter valued at $251,000. Institutional investors own 79.02% of the company’s stock.

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About LTC Properties

LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).

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