Wedbush Reaffirms “Outperform” Rating for LTC Properties (NYSE:LTC)

LTC Properties (NYSE:LTC)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research report issued on Friday, Benzinga reports. They currently have a $40.00 target price on the real estate investment trust’s stock. Wedbush’s price target indicates a potential upside of 9.62% from the company’s previous close.

LTC Properties Stock Down 2.2 %

Shares of NYSE:LTC opened at $36.49 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.29 and a current ratio of 11.29. The company’s fifty day moving average is $36.48 and its two-hundred day moving average is $34.36. LTC Properties has a 1-year low of $30.30 and a 1-year high of $38.28. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 19.01 and a beta of 0.91.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The business had revenue of $50.12 million for the quarter, compared to the consensus estimate of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. Equities analysts anticipate that LTC Properties will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other news, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the transaction, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other LTC Properties news, Director David L. Gruber purchased 6,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the transaction, the director now directly owns 18,412 shares in the company, valued at $658,229. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the sale, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On LTC Properties

Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC raised its holdings in LTC Properties by 78.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 529 shares in the last quarter. GAMMA Investing LLC grew its stake in LTC Properties by 91.4% during the second quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 687 shares in the last quarter. Principal Securities Inc. bought a new position in LTC Properties in the fourth quarter valued at approximately $58,000. Walleye Trading LLC bought a new position in shares of LTC Properties in the 1st quarter valued at $209,000. Finally, Van ECK Associates Corp raised its stake in LTC Properties by 11.7% during the second quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 689 shares in the last quarter. Institutional investors and hedge funds own 69.25% 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's investment portfolio includes 201 properties in 26 states with 29 operating partners.