LTC Properties (NYSE:LTC) Given “Sector Perform” Rating at Royal Bank of Canada

LTC Properties (NYSE:LTC)‘s stock had its “sector perform” rating reissued by equities research analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $36.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s price target indicates a potential upside of 0.13% from the company’s previous close.

Separately, Wells Fargo & Company reduced their price objective on shares of LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

LTC Properties Price Performance

Shares of LTC traded down $0.04 during mid-day trading on Monday, reaching $35.96. 108,253 shares of the company’s stock were exchanged, compared to its average volume of 309,409. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties has a 52-week low of $31.70 and a 52-week high of $39.89. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 15.43 and a beta of 0.68. The company has a 50-day simple moving average of $35.15 and a two-hundred day simple moving average of $35.61.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. On average, sell-side analysts predict that LTC Properties will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On LTC Properties

A number of hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in LTC Properties during the fourth quarter worth about $27,000. KBC Group NV purchased a new stake in shares of LTC Properties during the first quarter valued at approximately $33,000. Rossby Financial LCC purchased a new stake in LTC Properties during the 1st quarter worth $58,000. Elite Financial Inc. acquired a new stake in shares of LTC Properties during the first quarter valued at about $69,000. Finally, AlphaQuest LLC lifted its stake in shares of LTC Properties by 23,470.0% in the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 2,347 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

About LTC Properties

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.