Recent Analysts’ Ratings Changes for LTC Properties (LTC)

Several analysts have recently updated their ratings and price targets for LTC Properties (NYSE: LTC):

• 4/20/2022 – LTC Properties was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
• 4/13/2022 – LTC Properties was upgraded by analysts at Zacks Investment Research from a “sell” 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. “
• 4/1/2022 – LTC Properties had its price target raised by analysts at Credit Suisse Group AG from $35.00 to $38.00. They now have a “neutral” rating on the stock.
• 3/31/2022 – LTC Properties is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/14/2022 – LTC Properties was upgraded by analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating. They now have a $37.00 price target on the stock, up previously from $34.00.
• 2/24/2022 – LTC Properties was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “

Shares of NYSE LTC traded up $0.46 during mid-day trading on Thursday, hitting $36.62. 6,967 shares of the company’s stock traded hands, compared to its average volume of 311,267. The company’s 50-day moving average is $35.90 and its two-hundred day moving average is $34.64. The company has a debt-to-equity ratio of 0.97, a current ratio of 11.94 and a quick ratio of 11.94. The company has a market capitalization of $1.45 billion, a P/E ratio of 25.97 and a beta of 0.93. LTC Properties, Inc. has a 1 year low of $31.36 and a 1 year high of $43.88.

LTC Properties (NYSE:LTC – Get Rating) last announced its earnings results on Thursday, February 17th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.25). LTC Properties had a net margin of 35.74% and a return on equity of 7.34%. During the same quarter in the previous year, the firm earned $0.78 EPS. Equities analysts anticipate that LTC Properties, Inc. will post 2.52 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 22nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, June 21st. This represents a $2.28 annualized dividend and a yield of 6.23%. LTC Properties’s payout ratio is 161.70%.

A number of large investors have recently modified their holdings of the stock. Morgan Stanley grew its stake in LTC Properties by 84.1% in the 2nd quarter. Morgan Stanley now owns 280,099 shares of the real estate investment trust’s stock worth $10,752,000 after acquiring an additional 127,927 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in LTC Properties in the 3rd quarter worth about $2,429,000. WINTON GROUP Ltd grew its stake in LTC Properties by 3.4% in the 3rd quarter. WINTON GROUP Ltd now owns 20,226 shares of the real estate investment trust’s stock worth $641,000 after acquiring an additional 668 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in shares of LTC Properties during the third quarter valued at approximately $499,000. Finally, Nordea Investment Management AB boosted its stake in shares of LTC Properties by 101.7% during the third quarter. Nordea Investment Management AB now owns 246,002 shares of the real estate investment trust’s stock valued at $7,876,000 after purchasing an additional 124,056 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds 181 investments in 27 states with 29 operating partners.

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