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

LTC Properties (NYSE:LTC) was upgraded by equities research analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $40.00 price objective on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential upside of 16.99% from the stock’s previous close.

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

LTC Properties Stock Performance

LTC Properties stock opened at $34.19 on Tuesday. LTC Properties has a 52 week low of $30.30 and a 52 week high of $39.89. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.55 billion, a P/E ratio of 14.67 and a beta of 0.93. The stock has a 50 day moving average of $37.05 and a 200-day moving average of $36.40.

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

Insiders Place Their Bets

In related news, Director David L. Gruber bought 3,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the transaction, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Clint B. Malin sold 6,000 shares of the firm’s 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 owns 158,585 shares in the company, valued at $6,145,168.75. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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