Wedbush Reiterates Outperform Rating for LTC Properties (NYSE:LTC)

LTC Properties (NYSE:LTC)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research note issued to investors on Friday, Benzinga reports. They currently have a $40.00 price objective on the real estate investment trust’s stock. Wedbush’s price objective points to a potential upside of 11.11% from the stock’s current price.

LTC Properties Stock Down 0.8 %

NYSE LTC opened at $36.00 on Friday. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88. LTC Properties has a 52 week low of $30.30 and a 52 week high of $38.28. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.75 and a beta of 0.91. The company has a fifty day moving average of $36.49 and a two-hundred day moving average of $34.40.

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

Insider Buying and Selling at LTC Properties

In other news, 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 transaction of $182,250.00. Following the completion of the sale, the director now directly owns 34,522 shares in the company, valued at $1,258,326.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director David L. Gruber bought 6,000 shares of LTC Properties stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $35.75 per share, with a total value of $214,500.00. Following the completion of the transaction, the director now owns 18,412 shares in the company, valued at approximately $658,229. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the director now directly owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. 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 have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in shares of LTC Properties by 78.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 529 shares during the period. GAMMA Investing LLC lifted its stake in LTC Properties by 91.4% in the second quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 687 shares during the period. Principal Securities Inc. bought a new position in LTC Properties during the 4th quarter worth about $58,000. Walleye Trading LLC purchased a new position in LTC Properties during the 1st quarter valued at about $209,000. Finally, Van ECK Associates Corp increased its position in LTC Properties by 11.7% during the 2nd quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 689 shares during the period. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

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.