LTC Properties (NYSE:LTC) Upgraded at JMP Securities

LTC Properties (NYSE:LTC) was upgraded by stock analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday,Finviz reports. The brokerage currently has a $40.00 target price on the real estate investment trust’s stock. JMP Securities’ price target indicates a potential upside of 19.69% from the stock’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 research note on Tuesday, October 1st. Wedbush reissued an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Stock Performance

NYSE LTC opened at $33.42 on Tuesday. The firm has a market capitalization of $1.51 billion, a P/E ratio of 14.34 and a beta of 0.93. The stock has a 50-day simple moving average of $37.13 and a two-hundred day simple moving average of $36.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $39.89.

LTC Properties (NYSE:LTC) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, equities analysts forecast that LTC Properties will post 2.79 earnings per share for the current year.

Insider Activity

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the firm’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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David L. Gruber bought 3,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the purchase, the director now owns 21,516 shares in the company, valued at $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. Company insiders own 2.00% of the company’s stock.

Institutional Trading of LTC Properties

Several large investors have recently bought and sold shares of LTC. Harbor Capital Advisors Inc. acquired a new position in shares of LTC Properties during the 3rd quarter worth approximately $36,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of LTC Properties by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 437 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of LTC Properties by 25.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 366 shares during the period. FMR LLC boosted its position in shares of LTC Properties by 132.7% during the 3rd quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 1,653 shares during the last quarter. Finally, Community Trust & Investment Co. purchased a new stake in shares of LTC Properties in the third quarter valued at about $202,000. Hedge funds and other institutional investors 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.