LTC Properties (NYSE:LTC) Stock Rating Upgraded by Citizens Jmp

LTC Properties (NYSE:LTC) was upgraded by equities research analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

LTC has been the topic of several other research reports. JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Tuesday. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.75.

LTC Properties Stock Up 0.1 %

LTC Properties stock opened at $34.19 on Tuesday. The company has a market capitalization of $1.55 billion, a PE ratio of 14.67 and a beta of 0.93. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $39.89. The firm has a 50 day moving average price of $37.05 and a 200 day moving average price of $36.40.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts expect that LTC Properties will post 2.79 earnings per share for the current year.

Insider Buying and Selling

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the sale, the insider now directly owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David L. Gruber acquired 3,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the transaction, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their position. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On LTC Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LTC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of LTC Properties by 312.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 332,173 shares of the real estate investment trust’s stock worth $12,187,000 after buying an additional 251,609 shares during the last quarter. State Street Corp raised its stake in LTC Properties by 5.8% during the 3rd quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust’s stock worth $121,262,000 after acquiring an additional 181,973 shares in the last quarter. JPMorgan Chase & Co. lifted its position in LTC Properties by 80.4% in the third quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock valued at $9,312,000 after acquiring an additional 113,100 shares during the last quarter. Two Sigma Advisers LP boosted its stake in LTC Properties by 33.1% in the third quarter. Two Sigma Advisers LP now owns 313,100 shares of the real estate investment trust’s stock valued at $11,488,000 after acquiring an additional 77,900 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of LTC Properties during the third quarter worth about $2,717,000. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Company Profile

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.