LTC Properties (NYSE:LTC) Stock Rating Upgraded by JMP Securities

LTC Properties (NYSE:LTC) was upgraded by analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat reports. The brokerage presently has a $40.00 price target on the real estate investment trust’s stock. JMP Securities’ target price would suggest a potential upside of 16.99% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company reissued an “equal weight” rating and set a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.75.

LTC Properties Stock Performance

LTC opened at $34.19 on Tuesday. The business has a 50 day moving average price of $37.05 and a two-hundred day moving average price of $36.40. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 14.67 and a beta of 0.93. LTC Properties has a 1-year low of $30.30 and a 1-year high of $39.89.

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

Insider Activity at LTC Properties

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

Hedge Funds Weigh In On LTC Properties

Large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of LTC Properties during the 3rd quarter worth approximately $36,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in LTC Properties by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 437 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of LTC Properties by 25.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 366 shares in the last quarter. FMR LLC raised its stake in shares of LTC Properties by 132.7% in the 3rd quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 1,653 shares in the last quarter. Finally, Community Trust & Investment Co. bought a new position in shares of LTC Properties during the 3rd quarter worth about $202,000. 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.