JMP Securities Upgrades LTC Properties (NYSE:LTC) to “Outperform”

LTC Properties (NYSE:LTC) was upgraded by JMP Securities from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday,Finviz reports. The brokerage presently has a $40.00 price target on the real estate investment trust’s stock. JMP Securities’ price target would suggest a potential upside of 19.69% from the company’s current price.

LTC has been the subject of several other research reports. 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 report on Tuesday, October 1st. Wedbush reissued an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research report on Friday, September 20th.

LTC Properties Stock Down 2.5 %

Shares of NYSE:LTC opened at $33.42 on Tuesday. The business’s 50 day moving average is $37.13 and its 200 day moving average is $36.40. The stock has a market cap of $1.51 billion, a P/E ratio of 14.34 and a beta of 0.93. LTC Properties has a 52-week low of $30.30 and a 52-week high of $39.89. 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 (NYSE:LTC) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The firm had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. LTC Properties’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. Sell-side analysts predict that LTC Properties will post 2.79 EPS for the current year.

Insiders Place Their Bets

In other LTC Properties news, Director David L. Gruber acquired 3,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now directly owns 21,516 shares of the company’s stock, valued at $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of the business’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 transaction, the insider now owns 158,585 shares in the company, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased 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 valued at $121,262,000 after purchasing an additional 181,973 shares in the last quarter. Geode Capital Management LLC increased its position in shares of LTC Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,125,020 shares of the real estate investment trust’s stock valued at $41,284,000 after acquiring an additional 8,351 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of LTC Properties by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock valued at $27,683,000 after acquiring an additional 30,422 shares during the period. Strategic Financial Concepts LLC raised its stake in LTC Properties by 3,401.1% in the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 654,136 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in LTC Properties by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock worth $21,180,000 after acquiring an additional 31,980 shares during the period. 69.25% of the stock is owned by hedge funds and other institutional investors.

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.