LTC Properties (LTC) Earns “Sell” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sell rating on shares of LTC Properties (NYSE:LTC) in a research note released on Tuesday. The brokerage currently has a $40.00 price objective on the real estate investment trust’s stock.

LTC has been the subject of a number of other reports. ValuEngine raised LTC Properties from a sell rating to a hold rating in a research report on Wednesday, August 15th. Cantor Fitzgerald reissued a buy rating and issued a $46.00 price target (up from $45.00) on shares of LTC Properties in a research report on Thursday, August 9th. Zacks Investment Research lowered LTC Properties from a hold rating to a sell rating in a research report on Tuesday, October 16th. Finally, Stifel Nicolaus set a $43.00 price objective on LTC Properties and gave the company a hold rating in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $42.83.

NYSE LTC opened at $44.83 on Tuesday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 14.46, a P/E/G ratio of 3.71 and a beta of 0.10. LTC Properties has a 12 month low of $34.46 and a 12 month high of $47.39. The company has a quick ratio of 8.91, a current ratio of 8.91 and a debt-to-equity ratio of 0.81.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. The business had revenue of $34.21 million during the quarter, compared to analyst estimates of $34.12 million. LTC Properties had a return on equity of 18.31% and a net margin of 86.31%. Equities analysts expect that LTC Properties will post 3.01 EPS for the current year.

The firm also recently disclosed a dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 21st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, November 20th. LTC Properties’s dividend payout ratio (DPR) is presently 73.55%.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in LTC Properties by 3.5% in the 3rd quarter. BlackRock Inc. now owns 6,819,117 shares of the real estate investment trust’s stock valued at $300,792,000 after purchasing an additional 228,400 shares during the period. Vanguard Group Inc. grew its stake in LTC Properties by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,020,241 shares of the real estate investment trust’s stock valued at $265,552,000 after purchasing an additional 20,739 shares during the period. Victory Capital Management Inc. grew its stake in LTC Properties by 3.6% in the 2nd quarter. Victory Capital Management Inc. now owns 1,622,530 shares of the real estate investment trust’s stock valued at $69,347,000 after purchasing an additional 55,781 shares during the period. Bank of New York Mellon Corp grew its stake in LTC Properties by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 731,590 shares of the real estate investment trust’s stock valued at $32,270,000 after purchasing an additional 12,131 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in LTC Properties by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 624,447 shares of the real estate investment trust’s stock valued at $27,543,000 after purchasing an additional 5,184 shares during the period. Hedge funds and other institutional investors own 75.56% of the company’s stock.

About LTC Properties

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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Analyst Recommendations for LTC Properties (NYSE:LTC)

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