LTC Properties (NYSE:LTC) Rating Reiterated by Wedbush

LTC Properties (NYSE:LTC)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued on Friday, Benzinga reports. They presently have a $40.00 target price on the real estate investment trust’s stock. Wedbush’s price objective points to a potential upside of 11.11% from the company’s previous close.

LTC Properties Stock Performance

LTC opened at $36.00 on Friday. The company’s 50 day moving average is $36.49 and its 200 day moving average is $34.40. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 18.75 and a beta of 0.91. LTC Properties has a 12-month low of $30.30 and a 12-month high of $38.28.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The business had revenue of $50.12 million for the quarter, compared to the consensus estimate of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. On average, equities research analysts predict that LTC Properties will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares in the company, valued at $1,258,326.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David L. Gruber acquired 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $35.75 per share, with a total value of $214,500.00. Following the purchase, the director now owns 18,412 shares of the company’s stock, valued at $658,229. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On LTC Properties

Several hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its stake in LTC Properties by 2.9% in the 2nd quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust’s stock worth $451,000 after acquiring an additional 372 shares during the last quarter. Commonwealth Equity Services LLC increased its position in LTC Properties by 3.8% in the second quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust’s stock worth $420,000 after purchasing an additional 447 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in LTC Properties by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 36,243 shares of the real estate investment trust’s stock valued at $1,178,000 after purchasing an additional 469 shares in the last quarter. Quadrant Capital Group LLC lifted its position in LTC Properties by 78.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 529 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of LTC Properties by 8.6% in the 2nd quarter. QRG Capital Management Inc. now owns 6,931 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Company Profile

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.