LTC Properties (NYSE:LTC) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of LTC Properties (NYSE:LTC) from a hold rating to a sell rating in a research note released on Thursday, Zacks.com reports.

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. “

LTC has been the subject of several other research reports. Stifel Nicolaus reissued a hold rating and issued a $37.00 price objective on shares of LTC Properties in a report on Tuesday, September 1st. TheStreet lowered LTC Properties from a b- rating to a c rating in a research note on Friday, July 31st. ValuEngine lowered LTC Properties from a hold rating to a sell rating in a research note on Monday, August 3rd. JMP Securities initiated coverage on LTC Properties in a research note on Monday, June 8th. They issued a market perform rating for the company. Finally, Wells Fargo & Company lifted their price target on LTC Properties from $33.00 to $35.00 and gave the company an underweight rating in a research note on Friday, June 19th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $38.25.

Shares of LTC opened at $35.57 on Thursday. The stock has a market cap of $1.46 billion, a P/E ratio of 12.08 and a beta of 0.77. The stock has a 50-day moving average of $37.14 and a two-hundred day moving average of $36.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.43 and a current ratio of 11.43. LTC Properties has a one year low of $24.49 and a one year high of $53.04.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.66). The company had revenue of $38.02 million during the quarter, compared to analyst estimates of $38.04 million. LTC Properties had a net margin of 62.35% and a return on equity of 13.24%. Analysts predict that LTC Properties will post 2.91 EPS for the current fiscal year.

The company also recently disclosed a dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 21st. LTC Properties’s dividend payout ratio (DPR) is currently 74.03%.

Large investors have recently bought and sold shares of the business. Ameritas Investment Company LLC purchased a new stake in LTC Properties during the 1st quarter worth approximately $25,000. HHM Wealth Advisors LLC purchased a new stake in LTC Properties during the 1st quarter worth approximately $39,000. Mutual of America Capital Management LLC grew its position in shares of LTC Properties by 12.5% in the first quarter. Mutual of America Capital Management LLC now owns 2,828 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 315 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of LTC Properties in the first quarter valued at approximately $136,000. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of LTC Properties in the first quarter valued at approximately $201,000. Institutional investors own 76.42% 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 holds more than 200 investments in 28 states with 30 operating partners.

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