According to Zacks, “LTC Properties, Inc., a health care real estate investment trust, invests primarily in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments. Their primary objectives are to sustain and enhance stockholder equity value and provide current income for distribution to stockholders through real estate investments in long-term care facilities and other health care related facilities managed by experienced operators providing quality care. “
Separately, ValuEngine downgraded LTC Properties from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $44.40.
LTC Properties (NYSE:LTC) last issued its earnings results on Thursday, May 9th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.23). LTC Properties had a return on equity of 19.07% and a net margin of 95.25%. The company had revenue of $28.02 million during the quarter, compared to the consensus estimate of $33.02 million. On average, equities analysts forecast that LTC Properties will post 3.02 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of LTC. Norges Bank bought a new position in LTC Properties in the 4th quarter worth about $21,421,000. Northern Trust Corp raised its holdings in shares of LTC Properties by 31.5% in the 4th quarter. Northern Trust Corp now owns 936,253 shares of the real estate investment trust’s stock valued at $39,024,000 after acquiring an additional 224,162 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of LTC Properties in the 4th quarter valued at about $5,678,000. Deutsche Bank AG raised its holdings in shares of LTC Properties by 111.5% in the 4th quarter. Deutsche Bank AG now owns 176,776 shares of the real estate investment trust’s stock valued at $7,366,000 after acquiring an additional 93,195 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of LTC Properties by 1,596.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 91,393 shares of the real estate investment trust’s stock valued at $4,186,000 after acquiring an additional 86,007 shares in the last quarter. Institutional investors and hedge funds own 76.39% of the company’s stock.
About LTC Properties
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 holds more than 200 investments in 28 states with 30 operating partners.
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