LTC Properties (NYSE:LTC) Rating Increased to Strong-Buy at Wedbush

LTC Properties (NYSE:LTC - Get Free Report) was upgraded by Wedbush to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

LTC has been the topic of several other reports. Wells Fargo & Company dropped 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 report on Monday, March 10th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $36.00 price target on shares of LTC Properties in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $38.00.

LTC Properties Price Performance

NYSE LTC opened at $35.15 on Wednesday. The company has a market cap of $1.61 billion, a PE ratio of 18.12 and a beta of 0.65. LTC Properties has a 52 week low of $31.70 and a 52 week high of $39.89. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. The firm's 50-day simple moving average is $35.29 and its two-hundred day simple moving average is $34.95.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $49.03 million for the quarter, compared to analysts' expectations of $44.43 million. LTC Properties had a net margin of 42.16% and a return on equity of 8.48%. LTC Properties's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Research analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

Insider Activity

In other news, EVP David M. Boitano purchased 6,000 shares of the stock in a transaction dated Friday, June 27th. The shares were purchased at an average cost of $34.71 per share, with a total value of $208,260.00. Following the completion of the acquisition, the executive vice president owned 15,626 shares in the company, valued at $542,378.46. This represents a 62.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LTC. Bank of New York Mellon Corp increased its position in shares of LTC Properties by 6.1% in the fourth quarter. Bank of New York Mellon Corp now owns 962,651 shares of the real estate investment trust's stock worth $33,260,000 after purchasing an additional 55,254 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of LTC Properties by 4.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust's stock worth $237,000 after purchasing an additional 314 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of LTC Properties by 9.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 822,724 shares of the real estate investment trust's stock worth $28,425,000 after purchasing an additional 68,212 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of LTC Properties in the fourth quarter worth approximately $464,000. Finally, PNC Financial Services Group Inc. increased its position in shares of LTC Properties by 28.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 565 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Company Profile

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.

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