BMO Capital Markets Reaffirms Sell Rating for LTC Properties (LTC)

BMO Capital Markets Reaffirms Sell Rating for LTC Properties (LTC)

LTC Properties (NYSE:LTC)‘s stock had its “sell” rating reaffirmed by research analysts at BMO Capital Markets in a research note issued to investors on Thursday. They presently have a $40.00 target price on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential downside of 12.34% from the stock’s previous close.

A number of other brokerages have also weighed in on LTC. Zacks Investment Research lowered LTC Properties from a “buy” rating to a “hold” rating in a research note on Saturday, August 18th. Royal Bank of Canada restated a “sell” rating and set a $40.00 target price on shares of LTC Properties in a research report on Tuesday, November 20th. ValuEngine upgraded LTC Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Stifel Nicolaus set a $43.00 price objective on LTC Properties and gave the company a “hold” rating in a report on Thursday, August 9th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $46.00 price objective (up previously from $45.00) on shares of LTC Properties in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.00.

LTC opened at $45.63 on Thursday. LTC Properties has a 1-year low of $34.46 and a 1-year high of $47.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 8.91 and a quick ratio of 8.91. The company has a market capitalization of $1.81 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 3.77 and a beta of 0.13.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.88 EPS for the quarter, topping the consensus estimate of $0.75 by $0.13. The firm had revenue of $34.21 million during the quarter, compared to analysts’ expectations of $34.12 million. LTC Properties had a return on equity of 18.31% and a net margin of 86.31%. As a group, sell-side analysts predict that LTC Properties will post 3.02 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can increased its stake in shares of LTC Properties by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 74,039 shares of the real estate investment trust’s stock valued at $3,266,000 after buying an additional 1,167 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of LTC Properties by 14.1% in the second quarter. Commonwealth Equity Services LLC now owns 10,090 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 1,249 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of LTC Properties by 14.2% in the third quarter. Xact Kapitalforvaltning AB now owns 10,430 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 1,300 shares in the last quarter. Securian Asset Management Inc lifted its holdings in shares of LTC Properties by 7.5% in the second quarter. Securian Asset Management Inc now owns 20,004 shares of the real estate investment trust’s stock valued at $855,000 after purchasing an additional 1,400 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of LTC Properties by 7.2% in the second quarter. US Bancorp DE now owns 22,995 shares of the real estate investment trust’s stock valued at $984,000 after purchasing an additional 1,537 shares in the last quarter. Hedge funds and other institutional investors own 75.29% of the company’s stock.

LTC Properties Company Profile

LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At September 30, 2018, LTC had 199 investments located in 28 states, comprising 103 assisted living communities, 95 skilled nursing centers and 1 behavioral health care hospital.

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