LTC Properties Stock (NYSE:LTC), Trade Ideas

LTC Properties

LTC Properties Inc is a healthcare facility real estate investment trust. The company operates one segment that works to invest in seniors housing and healthcare facilities through mortgage loans, property lease transactions, and other investments. Its real estate investments includes different types of properties such as Independent living communities, Assisted living communities, Memory care communities, Skilled nursing centers and other types of properties.

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Gain Exposure to Real Estate With These REITs Yielding Up to 7.1%

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These REITs Offer Yields Up to 7.2% and Monthly Dividends

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Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.
Let's take a look at two REITs with yields up to 7.1% that have been growing their dividends in recent years.
<h2 class="wp-block-heading">CubeSmart</h2>
CubeSmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBE#NYSE">CUBE</a>) is the third largest owner and operator of self storage facilities in the United States. It currently owns or manages <a href="https://s201.q4cdn.com/604002580/files/doc_presentations/2024/Mar/04/cube-ir-presentation-march-2024-final.pdf">1,406 self storage properties</a> across 178 markets in 41 states and the District of Columbia.
CubeSmart currently pays a quarterly dividend of $0.51 per share, equating to an annualized dividend of $2.04 per share, which gives its stock a yield of about 4.4% at the time of this writing.
On top of having a high yield, CubeSmart is a dividend-growth star, as its <a href="https://investors.cubesmart.com/news--events/news-details/2023/CubeSmart-Announces-4.1-Increase-in-Quarterly-Common-Dividend/default.aspx">4.1% hike in December</a> marked the 14th consecutive year in which it has raised its annual dividend payment.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/go/bezos-landlord">Jeff Bezos-backed startup will allow you to become a landlord</a> in just 10 minutes, and you only need $100.</li>
<li>Elon Musk Is Bullish On Austin. Here&#8217;s <a href="https://www.benzinga.com/go/musk-austin">How To Invest In The City&#8217;s Growth Before He Floods It With New Tech Workers</a>.</li>
</ul>
<h2 class="wp-block-heading">LTC Properties</h2>
LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) is a REIT that invests primarily in senior housing and healthcare properties. Its portfolio currently consists of <a href="https://irp.cdn-website.com/86b996c9/files/uploaded/Investor%20Presentation%20April%202024.pdf">202 properties</a>, including 124 assisted living facilities and 77 skilled nursing facilities, across 26 states with 30 operating partners.
LTC currently pays a monthly dividend of $0.19 per share, equating to an annualized dividend of $2.28 per share, which gives its stock a yield of about 7.1% at the time of this writing.
On top of being a high yielder, LTC is a reliable dividend payer, as it has maintained its current monthly dividend rate since October 2016.
<h2 class="wp-block-heading">Explore Opportunities Beyond REITs</h2>
While publicly traded REITs offer a convenient way to invest in real estate, we believe that some of the most compelling opportunities lie in the private market. Benzinga's <a href="https://www.benzinga.com/go/real-estate-screener">real estate offering screener</a> features a curated selection of private market real estate offerings from trusted platforms with a track record of strong returns.
Whether you&#8217;re an accredited or non-accredited investor, you can filter opportunities based on your investment criteria, including minimum investment, property type and target return. These offerings provide a unique chance to diversify your portfolio and tap into potential high-yield investments that are not available on public exchanges.
<a href="https://www.benzinga.com/go/real-estate-screener">Browse offerings</a>
<h3 class="wp-block-heading">Latest Private Market Offerings</h3>
<ul>
<li><a href="https://www.benzinga.com/alternative-investments/listing/qoz-fund-iii">QOZ Fund III</a>: Realize massive tax benefits by investing in a portfolio of multifamily development projects with long-term growth potential located in designated Opportunity Zones.</li>
<li><a href="https://www.benzinga.com/alternative-investments/listing/incomeplus-fund">Income Plus Fund:</a> A private real estate fund for investors seeking passive income and appreciation &#8211; Target net annual return of 9% &#8211; 11%.&nbsp;</li>
<li><a href="https://www.benzinga.com/alternative-investments/listing/gold-leaf-farming-lp">Golden Leaf Farming LP</a>: Top-tier almond and pistachio farms with a target cash yield of 13.8%</li>
</ul>
Discover these and other exclusive real estate investment opportunities on Benzinga's offering screener. Dive into the private market and uncover the potential for substantial returns beyond the public REIT market.
Read Next:
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<li>Want To Grow Your Wealth Passively? <a href="https://www.benzinga.com/go/grow-wealth-passively">These High-Yield Real Estate Notes Might Be Your Holy Grail</a></li>
<li>Miami Is Expected To Take New York's Place As The US Financial Capital. <a href="https://www.benzinga.com/go/miami-financial-capital">Invest In It With $500 Before That Happens</a>.</li>
</ul>
Image Credit: Shutterstock

For investors seeking a steady stream of monthly income, real estate investment trusts (REITs) that pay dividends on a monthly basis emerge as a compelling financial strategy. Let's check out two with yields up to 7.2%.
<h2 class="wp-block-heading">Whitestone REIT</h2>
Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) owns and manages a portfolio of 55 open-air retail centers containing approximately five million square feet of gross leasable area in some of the fastest growing markets in the U.S., including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.
Whitestone currently pays a monthly dividend of $0.04125 per share, equating to an annual dividend of $0.495 per share, which gives its stock a yield of about 4.2% at the time of this writing.
In addition to offering a high yield, Whitestone has a track record of raising its dividend. It has raised its dividend each of the last two years, and its 3% hike in March has it on track for 2024 to mark the third consecutive year with an increase.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/go/bezos-landlord">Jeff Bezos-backed startup will allow you to become a landlord</a> in just 10 minutes, and you only need $100.</li>
<li>Elon Musk Is Bullish On Austin. Here&#8217;s <a href="https://www.benzinga.com/go/musk-austin">How To Invest In The City&#8217;s Growth Before He Floods It With New Tech Workers</a>.</li>
</ul>
<h2 class="wp-block-heading">LTC Properties</h2>
LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) is a REIT that invests primarily in senior housing and healthcare properties. Its portfolio consists of 202 properties, including 124 assisted living facilities and 77 skilled nursing facilities, across 26 states with 29 operating partners as of December 31, 2023.
LTC currently pays a monthly dividend of $0.19 per share, equating to an annualized dividend of $2.28 per share, which gives its stock a yield of about 7.2% at the time of this writing.&nbsp;
LTC has maintained its current monthly dividend rate since October 2016, which means investors should consider it a reliable source of income.
Read Next:
<ul>
<li>Want To Grow Your Wealth Passively? <a href="https://www.benzinga.com/go/grow-wealth-passively">These High-Yield Real Estate Notes Might Be Your Holy Grail</a></li>
<li>Miami Is Expected To Take New York's Place As The US Financial Capital. <a href="https://www.benzinga.com/go/miami-financial-capital">Invest In It With $500 Before That Happens</a>.</li>
</ul>
Image Credit: Shutterstock

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RBC Capital analyst Michael Carroll reiterates LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) with a Sector Perform and maintains $32 price target.

Price Target

Reiteration

Analyst Ratings

RBC Capital Reiterates Sector Perform on LTC Properties, Maintains $32 Price Target

For investors seeking a steady stream of monthly income, real estate investment trusts (REITs) that pay dividends on a monthly basis emerge as a compelling financial strategy. In this article, we unravel two REITs that pay monthly dividends and have yields of 6% or more.
<h2 class="wp-block-heading">LTC Properties</h2>
LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) is a REIT that invests primarily in senior housing and healthcare properties. As of December 31, 2023, its portfolio consists of <a href="https://irp.cdn-website.com/86b996c9/files/uploaded/Q4%202023%20SUPPLEMENTAL%20OPERATING%20AND%20FINANCIAL%20DATA.pdf">202 properties</a>, including 124 assisted living facilities and 77 skilled nursing facilities, across 26 states with 29 operating partners.
LTC currently pays a monthly dividend of $0.19 per share, equating to an annualized dividend of $2.28 per share and giving its stock a yield of about 7.2% at the time of this writing. The company has also maintained this monthly rate since October 2016, making it a very reliable source of income.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.</a></li>
</ul>
<h2 class="wp-block-heading">Apple Hospitality</h2>
Apple Hospitality (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APLE#NYSE">APLE</a>) owns and manages a portfolio of upscale, rooms-focused hotels across the United States. As of November 30, 2023, its portfolio consists of <a href="https://s2.q4cdn.com/357237921/files/doc_presentations/2023/Dec/06/investor-presentation-dated-december-2023.pdf">224 hotels</a> with 29,601 guest rooms located across 37 states.
Apple Hospitality currently pays a monthly dividend of $0.08 per share, equating to an annualized dividend of $0.96 per share and giving its stock a yield of about 6% at the time of this writing. It's worth noting that the company suspended its dividend during the Covid-19 pandemic, but it appears to be back on track as a reliable source of monthly income.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new <a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100">real estate fund backed by Dara Khosrowshahi</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>
Image Credit: Shutterstock<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"></a>

APLE

Generate Monthly Income From These REITs Yielding 6% or More

LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) reported quarterly earnings of $0.57 per share. This is a 20.83 percent decrease over earnings of $0.72 per share from the same period last year. The company reported quarterly sales of $50.20 million which beat the analyst consensus estimate of $49.69 million by 1.02 percent. This is a 4.92 percent increase over sales of $47.84 million the same period last year.

Earnings

LTC Properties Q4 FFO $0.57 Down From $0.72 YoY, Sales $50.20M Beat $49.69M Estimate

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Earnings Scheduled For February 15, 2024

When analysts initiate coverage on a stock, it means the analyst will begin to provide research on a stock and make investment recommendations on it for the first time. This move is important because it typically leads to an increase in trading volume and interest among investors. It can ultimately help shares of those stocks to move higher, depending upon the rating given.
Usually, the analyst will start with two or three similar stocks at one time. But every once in a while, an analyst will begin coverage on a larger group within a subsector.
This week, on January 30, 2024, was one of those instances, as ten healthcare real estate investment trusts (REITs) had coverage initiated by a single analyst, but only six of the ten were rated "Buys."&nbsp;
Sabra Health Care REIT Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBRA#NASDAQ">SBRA</a>) is an Irvine, California-based healthcare REIT that owns 410 properties across the U.S. Its portfolio consists of Senior Nursing Facilities (SNF), Senior Housing, Behavioral Health and Specialty Hospitals with eight-year weighted average lease terms (WALT). Signature Healthcare is its largest tenant, with a rent concentration of 9%.
Sabra CEO Rick Matros recently told analysts that occupancy gains and easing labor pressures are driving rent coverage higher and Medicaid reimbursements are likely to increase. Thirteen SNF and two Senior Housing facilities were sold during Q3 2023 with the net proceeds used to reduce the outstanding balance on Sabra's revolving credit facility.
On January 30, Deutsch bank analyst Omotayo Okusanya initiated coverage on Sabra Health Care with a Buy rating and announced a price target of $21. Earlier in the month, Mizuho analyst Vikram Malhotra also maintained a Buy rating on Sabra Health, while raising the target price from $15 to $17.
Sabra Health Care has a total return of -5.00% in 2024.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> Jeff Bezos-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Passive income investments are one of the most trusted methods for riding out a recession, so it's no surprise that people are turning to these <a href="https://www.benzinga.com/money/godwin-capital-notes">high-yield commercial real estate notes that pay a fixed 10% &#8211; 12%.</a></li>
</ul>
Welltower Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>) is a Toledo, Ohio, based healthcare REIT that owns interests in housing for seniors, post-acute communities and outpatient medical properties. It does this by providing capital to the operators who run these facilities. Welltower was founded in 1970 under the original name of Health Care Fund and was incorporated as a REIT in 1985. Welltower is a member of the S&amp;P 500.
Welltower has a total portfolio of 2017 properties, consisting of Senior Housing, Outpatient Medical and Long-Term/Post-Acute care across the U.S. The average age of the facilities is 20 years.
Deutsch bank analyst Omotayo Okusanya initiated coverage on Welltower with a Buy rating and announced a $115 price target. Earlier in the month Keybanc analyst Todd Thomas had maintained an overweight rating while raising the price target from $90 to $95.
Welltower was one of the 15 best-performing REITs of 2023, with a total return of 39.64%, but thus far in 2024 the total return is -3.40%.
Ventas Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTR#NYSE">VTR</a>) is a Chicago-based diversified healthcare REIT with approximately 1,400 properties that include senior living communities, life science, research and innovation properties, medical office buildings, outpatient facilities and skilled nursing facilities. Ventas has been in business for over 20 years and is a member of the S&amp;P 500.
Deutsch bank analyst Omotayo Okusanya initiated coverage on Ventas with a Buy rating and announced a price target of $60. On January 16, 2023, Bank of America Securities analyst Joshua Dennerlein upgraded Ventas from Neutral to Buy and raised the price target from $48 to $53.
Ventas has a total return of -4.90% in 2024.
National Health Investors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NHI#NYSE">NHI</a>) is a Murfreesboro, Tennessee-based healthcare REIT that specializes in sale-leaseback, joint-venture, mortgage and mezzanine financing of senior housing and medical investments. Its portfolio of 192 properties consists of independent living, assisted living, memory care communities, skilled nursing facilities, medical office buildings and specialty hospitals. National Health Investors was incorporated in 1991.
Deutsch bank analyst Omotayo Okusanya initiated coverage on National Health Investors with a Buy rating and announced a price target of $6.
National Health Investors has a total return in 2024 of -2.66%.
Omega Healthcare Investors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OHI#NYSE">OHI</a>) is a Hunt Valley, MD triple-net equity healthcare REIT that provides financing, capital and leasing to 66 different operators in 883 senior housing, skilled nursing and assisted living facilities across 42 states throughout the U.S. and the United Kingdom. Omega Healthcare Investors has no part in the day-to-day management of these facilities, which are run by the operators.
Deutsch bank analyst Omotayo Okusanya initiated coverage on Omega Healthcare Investors with a Buy rating and announced a price target of $36.
Omega Healthcare has a total return of -5.02% in 2024.
Three other healthcare REITs, Healthcare Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HR#NYSE">HR</a>), LTC Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) and Healthpeak Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEAK#NYSE">PEAK</a>) also had coverage initiated on January 30 and received Hold Ratings. Price targets for the three were $18, $34 and $21 respectively.
Medical Properties Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>), which is already down 36% in 2024, was tagged with a Sell rating and a price target of $2.
Healthcare REITs have shown improvements in occupancy and ability to restructure leases with operators, but not all healthcare REITs have been equal in making these changes, and that is reflected in the various ratings by Okusanya.
Investors should keep in mind that analysts are only correct about 50% of the time, and it's best for investors to perform their own due diligence before making purchase or sell transactions.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Elon Musk has reportedly bought 6,000 acres of land just outside of Austin.<a href="https://www.benzinga.com/real-estate/23/05/32537165/elon-musk-is-bullish-on-austin-heres-how-to-invest-in-the-citys-growth-before-he-floods-it-with-new"> Here&#8217;s how to invest in the city&#8217;s growth</a> before he floods it with new tech workers.</li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/3-high-yield-investments-boost-income">Here are 3 high-yield investments to add significant income to your portfolio</a>.</li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> real estate fund backed by Jeff Bezos</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>

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Analyst Initiates Coverage On 10 Healthcare REITs, But Which Ones Are Buys?

Deutsche Bank analyst Omotayo Okusanya initiates coverage on LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) with a Hold rating and announces Price Target of $34.

Initiation

Deutsche Bank Initiates Coverage On LTC Properties with Hold Rating, Announces Price Target of $34

Real estate investment trusts (REITs) have had a rough time this year, as higher interest rates and fears of a recession have weighed upon the share prices of the stocks. Analysts have been adjusting earnings estimates lower for some time.
But REITs are reporting third-quarter earnings this week, and several are proving the consensus estimates wrong with better funds from operations (FFO) and revenue than expected. Take a look at three REITs that recently beat the Street estimates with improving numbers.
Empire State Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESRT#NYSE">ESRT</a>) is a New York City-based diversified REIT that owns and operates a portfolio of office, retail and multifamily properties in the New York metro area. Empire State Realty owns the Empire State Building, one of the world's most famous buildings. As of Sept. 30, Empire's portfolio included 8.6 million rentable square feet of office space, 700,000 rentable square feet of retail space and 727 residential units in three multifamily properties.
On Oct. 25, Empire State Realty Trust delivered its third-quarter operating results. FFO of $0.25 per share was above the consensus estimate of $0.23 and 19.05% above FFO of $0.21 per share in the third quarter of 2022. Rental revenue of $151.46 million was 2.14% higher than revenue of $148.29 million in the third quarter of 2022. Total revenue of $191.53 million beat the estimates of $185.39 million and was 4.3% higher than revenue of $183.29 million in the third quarter of 2022.
Empire State also updated its full-year 2023 FFO guidance range to $0.85-$0.87 per share. The consensus is for $0.86.
On Oct. 2, Empire State announced it acquired two properties in the Williamsburg section of Brooklyn, New York, for an aggregate purchase price of $26.4 million.
Empire State Realty Trust jumped 8% following the earnings report.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Elon Musk may be adding "landlord" to his list of titles. <a href="https://www.benzinga.com/money/elon-musk-adding-landlord-list-of-titles">Here's how to join him in his latest venture with as little as $100.</a></li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/3-high-yield-investments-boost-income">Here are 3 high-yield investments to add significant income to your portfolio</a>.</li>
</ul>
KKR Real Estate Finance Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is a New York City-based mortgage REIT (mREIT) that provides customized and structured collateralized loans to commercial real estate projects. Its portfolio of 71 loans across the U.S. is worth $7.87 billion. Of its loan portfolio, 55% is multifamily and industrial properties and the average loan amount is $124 million.
On Oct. 23, KKR Real Estate Finance Trust reported its third-quarter operating results. Mortgage REITs use earnings per share (EPS) rather than FFO in operating results. Non-generally accepted accounting principles (GAAP) EPS of $0.25 beat the estimates by $0.14. Revenue of $50.1 million beat the estimates of $42.9 million, although it was down 2.1% year-over-year.
After the earnings report came out, both Raymond James and JMP Securities maintained Outperform ratings on KKR Real Estate, with Raymond James analyst Stephen Lewis lowering the price target from $15 to $14.50 and JMP analyst Steven Delaney lowering the price target from $14 to $13. Based on the $13 price, the potential appreciation is 23.6% from its most recent closing price of $10.51.&nbsp;&nbsp;
LTC Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) is a Westlake, California-based healthcare REIT that owns and leases 208 healthcare properties, comprising 50% senior housing and 50% skilled nursing facilities. LTC Properties' revenue is derived from triple-net leases, mortgages and mezzanine loans from its 29 operators across 27 states.
On Oct. 26, LTC Properties delivered its third-quarter operating results. FFO of $0.65 per share was slightly above the consensus estimate of $0.64 but $0.05 above FFO of $0.60 per share in the third quarter of 2022. Revenue of $49.3 million was ahead of estimates of $47.98 million and 13.3% higher than revenue of $43.5 million in the third quarter of 2022. LTC also reported that although expenses were slightly higher year over year, it had reduced its expenses by 24.5% from the second quarter of 2023.
Analysts have covered LTC Properties extensively in recent weeks. On Oct. 3, Wedbush Securities analyst Richard Anderson initiated coverage on LTC Properties with an Outperform rating and announced a $36 price target. On Sept. 28, Berenberg Capital Markets analyst Connor Siversky initiated coverage on LTC Properties with a Buy rating and a $36 price target. On Sept. 20, Jefferies analyst Joe Dickstein initiated coverage on LTC Properties with a Hold rating and announced a $29 price target.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>

ESRT

KREF

3 REITs That Just Beat Analysts' Estimates

LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.64 by 1.56 percent. This is a 8.33 percent increase over earnings of $0.60 per share from the same period last year. The company reported quarterly sales of $49.30 million which beat the analyst consensus estimate of $47.98 million by 2.76 percent. This is a 13.33 percent increase over sales of $43.50 million the same period last year.

LTC Properties Q3 2023 FFO $0.65 Beats $0.64 Estimate, Sales $49.30M Beat $47.98M Estimate

Upgrades

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Intraday Update

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Benzinga's Top Ratings Upgrades, Downgrades For October 3, 2023

Wedbush analyst Richard Anderson initiates coverage on LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) with a Outperform rating and announces Price Target of $36.

Wedbush Initiates Coverage On LTC Properties with Outperform Rating, Announces Price Target of $36

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Benzinga's Top Ratings Upgrades, Downgrades For September 28, 2023

Berenberg analyst Connor Siversky initiates coverage on LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) with a Buy rating and announces Price Target of $36.

Berenberg Initiates Coverage On LTC Properties with Buy Rating, Announces Price Target of $36

It's never easy to figure out Wall Street, where bad news can be good for stocks or vice versa. Sometimes a stock can be flying high, only to have a well-known analyst spoil the party with a downgrade. The reverse also is true, as was the case this week with some healthcare real estate investment trusts (REITs).
Over the past three trading days, healthcare REITs have been the worst-performing REIT subsector. Six healthcare REITs lost between 4% and 11.5%. Eleven more healthcare REITs are also in the red by a smaller amount.
But a handful of analysts on Sept. 20 reported positive views on some of the better healthcare REITs. Can analysts save some of the underperforming REITs in this subsector from further price declines? Take a look.
Don&#8217;t miss: <a href="https://www.benzinga.com/real-estate/23/08/33917239/3-high-yield-investments-to-boost-your-portfolios-income">3 High-Yield Investments To Add Significant Income To Your Portfolio</a>
Sabra Health Care REIT Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBRA#NASDAQ">SBRA</a>): Jefferies Group analyst Jonathan Petersen upgraded Sabra Health Care REIT from Hold to Buy and raised the price target from $11 to $15.
Caretrust REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRE#NYSE">CTRE</a>): Jefferies analyst Joe Dickstein initiated coverage on Caretrust REIT with a Buy rating and announced a price target of $23. On Sept. 12, Caretrust REIT was upgraded from Sector Perform to Outperform by RBC Capital Markets analyst Michael Carroll, who said it is uniquely positioned to be more aggressive in deploying capital that will be accretive to earnings.
National Health Investors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NHI#NYSE">NHI</a>): Jefferies analyst Dickstein also initiated coverage on National Health Investors, with a Hold rating and announced a price target of $52.
LTC Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>): Jefferies analyst Dickstein initiated coverage on a third healthcare REIT, LTC Properties, with a Hold rating and announced a $29 price target.
Welltower Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>): Raymond James analyst Jonathan Hughes maintained an Outperform rating on Welltower and raised the price target from $90 to $95. Welltower also received a Maintain Buy rating with a price target increase from $86 to $90 from Mizuho analyst Omotayo Okusanya on Sept. 14.
Last week, Welltower increased its 2023 funds from operations (FFO) guidance from $3.48-$3.59 to $3.51-$3.60. Welltower management cited asset management initiatives and favorable demand/supply conditions that have increased occupancy in its facilities.
Omega Healthcare Investors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OHI#NYSE">OHI</a>): Raymond James analyst Hughes also maintained an Outperform rating on Omega Healthcare and raised the price target from $33 to $36. On Sept. 12, RBC Capital analyst Carroll initiated coverage of Omega Healthcare with a Sector Perform rating and announced a $33 price target.
On Sept. 8, Mizuho analyst Vikram Malhotra upgraded Omega Healthcare from Neutral to Buy and raised the price target from $31 to $35, citing occupancy gains in skilled nursing facilities (SNFs) into next year and lower default risks. Many SNFs are now seeing occupancy levels approaching pre-COVID levels.
In recent months, there has been a dichotomy of performances in the healthcare REIT subsector as stocks like Sabra Health Care, Omega Healthcare and Welltower have been solid performers, but Medical Properties Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>), Healthcare Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HR#NYSE">HR</a>), Physicians Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOC#NYSE">DOC</a>) and Ventas Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTR#NYSE">VTR</a>) have been big losers.
Medical Properties Trust has been the worst performer, down 32.89% over the past 65 days. Healthcare Realty has lost 14.75%, Physicians Realty is off by 10.49%, and Ventas is off by 4.81%.
Mizuho recently cut its rating on Medical Properties from Buy to Neutral, citing reduced earnings and an extended path of recovery. JP Morgan also downgraded Medical Properties from Neutral to Underweight a month ago.
Ventas received a downgrade from Strong Buy to Outperform this week from Raymond James analyst Hughes and a price target cut from $55 to $53. On Sept. 11, Ventas's shareholders received a letter from hedge fund Land &amp; Buildings Investment Management asking for changes in Ventas's board of directors and suggesting that Land &amp; Buildings may restart a proxy fight if changes are not made.
Over the past 65 days, Sabra Health Care is up by 15.84%, Omega is up 8.67%, and Welltower has risen by 4.9%.
Analysts are taking note of this performance dichotomy and have focused positive ratings on those healthcare REITs that have been outperforming because of recent improvements in occupancy and the ability to restructure leases with their operators. It remains to be seen whether these trends will lift the underperforming tier in the healthcare subsector as well.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>

CTRE

Analysts: Healthcare REITs Show A Dichotomy Of Performance

<h3>Upgrades</h3>
For Regency Centers Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Argus Research upgraded the previous rating of Hold to Buy. In the second quarter, Regency Centers showed an EPS of $1.03, compared to $1.00 from the year-ago quarter. The current stock performance of Regency Centers shows a 52-week-high of $68.56 and a 52-week-low of $52.00. Moreover, at the end of the last trading period, the closing price was at $62.38. 
DA Davidson upgraded the previous rating for Pinterest Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) from Neutral to Buy. In the second quarter, Pinterest showed an EPS of $0.21, compared to $0.11 from the year-ago quarter. At the moment, the stock has a 52-week-high of $30.86 and a 52-week-low of $20.60. Pinterest closed at $26.21 at the end of the last trading period. 
TD Cowen upgraded the previous rating for Louisiana-Pacific Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>) from Hold to Buy. Louisiana-Pacific earned $0.55 in the second quarter, compared to $4.57 in the year-ago quarter. The stock has a 52-week-high of $79.56 and a 52-week-low of $48.20. At the end of the last trading period, Louisiana-Pacific closed at $57.87. 
According to Citigroup, the prior rating for Pinterest Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) was changed from Neutral to Buy. In the second quarter, Pinterest showed an EPS of $0.21, compared to $0.11 from the year-ago quarter. At the moment, the stock has a 52-week-high of $30.86 and a 52-week-low of $20.60. Pinterest closed at $26.21 at the end of the last trading period. 
For Wingstop Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Wedbush upgraded the previous rating of Neutral to Outperform. Wingstop earned $0.57 in the second quarter, compared to $0.45 in the year-ago quarter. At the moment, the stock has a 52-week-high of $223.77 and a 52-week-low of $113.20. Wingstop closed at $173.74 at the end of the last trading period. 
Exane BNP Paribas upgraded the previous rating for Western Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) from Neutral to Outperform. Western Digital earned $1.98 in the fourth quarter, compared to $1.78 in the year-ago quarter. The current stock performance of Western Digital shows a 52-week-high of $46.33 and a 52-week-low of $29.74. Moreover, at the end of the last trading period, the closing price was at $43.92. 
According to BMO Capital, the prior rating for Goosehead Insurance Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSHD#NASDAQ">GSHD</a>) was changed from Market Perform to Outperform. For the second quarter, Goosehead Insurance had an EPS of $0.41, compared to year-ago quarter EPS of $0.16. The stock has a 52-week-high of $76.36 and a 52-week-low of $29.31. At the end of the last trading period, Goosehead Insurance closed at $74.68. 
For Kimco Realty Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Wells Fargo upgraded the previous rating of Underweight to Equal-Weight. In the second quarter, Kimco Realty showed an EPS of $0.39, compared to $0.40 from the year-ago quarter. At the moment, the stock has a 52-week-high of $23.27 and a 52-week-low of $17.34. Kimco Realty closed at $18.49 at the end of the last trading period. 
According to Wells Fargo, the prior rating for SITE Centers Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITC#NYSE">SITC</a>) was changed from Equal-Weight to Overweight. In the second quarter, SITE Centers showed an EPS of $0.29, compared to $0.31 from the year-ago quarter. The current stock performance of SITE Centers shows a 52-week-high of $14.62 and a 52-week-low of $10.43. Moreover, at the end of the last trading period, the closing price was at $13.35. 
According to BMO Capital, the prior rating for Hudson Pacific Properties Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>) was changed from Market Perform to Outperform. For the second quarter, Hudson Pacific Properties had an EPS of $0.24, compared to year-ago quarter EPS of $0.51. The current stock performance of Hudson Pacific Properties shows a 52-week-high of $12.74 and a 52-week-low of $4.04. Moreover, at the end of the last trading period, the closing price was at $6.74. 
According to Jefferies, the prior rating for Sabra Health Care REIT Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBRA#NASDAQ">SBRA</a>) was changed from Hold to Buy. Sabra Health Care REIT earned $0.33 in the second quarter, compared to $0.39 in the year-ago quarter. At the moment, the stock has a 52-week-high of $14.31 and a 52-week-low of $10.08. Sabra Health Care REIT closed at $13.36 at the end of the last trading period. 
For Bausch Health Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>), Jefferies upgraded the previous rating of Hold to Buy. For the second quarter, Bausch Health Companies had an EPS of $0.81, compared to year-ago quarter EPS of $0.55. At the moment, the stock has a 52-week-high of $10.23 and a 52-week-low of $5.57. Bausch Health Companies closed at $7.72 at the end of the last trading period. 
For Cia Energetica DE Minas Gerais - Cemig (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIG#NYSE">CIG</a>), B of A Securities upgraded the previous rating of Neutral to Buy. The current stock performance of Cia Energetica DE Minas shows a 52-week-high of $2.70 and a 52-week-low of $1.82. Moreover, at the end of the last trading period, the closing price was at $2.62. 
Goldman Sachs upgraded the previous rating for Azul SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZUL#NYSE">AZUL</a>) from Neutral to Buy. For the second quarter, Azul had an EPS of $0.81, compared to year-ago quarter EPS of $0.94. The stock has a 52-week-high of $13.87 and a 52-week-low of $3.82. At the end of the last trading period, Azul closed at $8.27. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings upgrades.</a>
<h3>Downgrades</h3>
According to Raymond James, the prior rating for Ventas Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTR#NYSE">VTR</a>) was changed from Strong Buy to Outperform. Ventas earned $0.75 in the second quarter, compared to $0.72 in the year-ago quarter. The stock has a 52-week-high of $53.15 and a 52-week-low of $35.34. At the end of the last trading period, Ventas closed at $43.45. 
For Skyworks Solutions Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Exane BNP Paribas downgraded the previous rating of Outperform to Neutral. In the third quarter, Skyworks Solutions showed an EPS of $1.73, compared to $2.44 from the year-ago quarter. The current stock performance of Skyworks Solutions shows a 52-week-high of $123.69 and a 52-week-low of $76.17. Moreover, at the end of the last trading period, the closing price was at $97.82. 
For ARS Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRY#NASDAQ">SPRY</a>), William Blair downgraded the previous rating of Outperform to Market Perform. In the second quarter, ARS Pharmaceuticals showed an EPS of $0.18, compared to $0.21 from the year-ago quarter. At the moment, the stock has a 52-week-high of $9.65 and a 52-week-low of $3.99. ARS Pharmaceuticals closed at $6.61 at the end of the last trading period. 
Wells Fargo downgraded the previous rating for Phillips Edison &amp; Co Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PECO#NASDAQ">PECO</a>) from Equal-Weight to Underweight. In the second quarter, Phillips Edison showed an EPS of $0.12, compared to $0.12 from the year-ago quarter. The stock has a 52-week-high of $36.46 and a 52-week-low of $27.08. At the end of the last trading period, Phillips Edison closed at $34.78. 
Wells Fargo downgraded the previous rating for Retail Opportunity Investments Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) from Overweight to Equal-Weight. For the second quarter, Retail Opportunity had an EPS of $0.27, compared to year-ago quarter EPS of $0.28. The stock has a 52-week-high of $16.37 and a 52-week-low of $11.97. At the end of the last trading period, Retail Opportunity closed at $13.58. 
According to JP Morgan, the prior rating for Dollar General Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) was changed from Neutral to Underweight. For the second quarter, Dollar Gen had an EPS of $2.13, compared to year-ago quarter EPS of $2.98. The stock has a 52-week-high of $261.57 and a 52-week-low of $112.16. At the end of the last trading period, Dollar Gen closed at $115.10. 
According to Morgan Stanley, the prior rating for Ncino Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) was changed from Equal-Weight to Underweight. In the second quarter, Ncino showed an EPS of $0.09, compared to $0.04 from the year-ago quarter. At the moment, the stock has a 52-week-high of $37.22 and a 52-week-low of $19.58. Ncino closed at $33.09 at the end of the last trading period. 
According to Morgan Stanley, the prior rating for Zebra Technologies Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZBRA#NASDAQ">ZBRA</a>) was changed from Equal-Weight to Underweight. In the second quarter, Zebra Technologies showed an EPS of $3.29, compared to $4.61 from the year-ago quarter. The stock has a 52-week-high of $351.74 and a 52-week-low of $225.14. At the end of the last trading period, Zebra Technologies closed at $252.17. 
Oppenheimer downgraded the previous rating for Chewy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) from Outperform to Perform. For the second quarter, Chewy had an EPS of $0.15, compared to year-ago quarter EPS of $0.05. The stock has a 52-week-high of $52.88 and a 52-week-low of $18.90. At the end of the last trading period, Chewy closed at $19.45. 
Exane BNP Paribas downgraded the previous rating for WPP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPP#NYSE">WPP</a>) from Outperform to Neutral. NoneThe current stock performance of WPP shows a 52-week-high of $64.07 and a 52-week-low of $39.69. Moreover, at the end of the last trading period, the closing price was at $47.15. 
B of A Securities downgraded the previous rating for PT Telkom Indonesia (Persero) Tbk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLK#NYSE">TLK</a>) from Buy to Neutral. For the first quarter, Telkom Indonesia had an EPS of $0.43, compared to year-ago quarter EPS of $0.43. The stock has a 52-week-high of $29.82 and a 52-week-low of $23.03. At the end of the last trading period, Telkom Indonesia closed at $24.18. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings downgrades.</a>
<h3>Initiations</h3>
With an Outperform rating, Oppenheimer initiated coverage on Air Transport Services Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATSG#NASDAQ">ATSG</a>). The price target seems to have been set at $27.00 for Air Transport Services Gr. In the second quarter, Air Transport Services Gr showed an EPS of $0.57, compared to $0.59 from the year-ago quarter. At the moment, the stock has a 52-week-high of $29.54 and a 52-week-low of $14.39. Air Transport Services Gr closed at $20.96 at the end of the last trading period. 
Hovde Group initiated coverage on Brookline Bancorp Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKL#NASDAQ">BRKL</a>) with an Outperform rating. The price target for Brookline Bancorp is set to $10.75. In the second quarter, Brookline Bancorp showed an EPS of $0.26, compared to $0.33 from the year-ago quarter. The stock has a 52-week-high of $15.50 and a 52-week-low of $7.00. At the end of the last trading period, Brookline Bancorp closed at $8.93. 
RBC Capital initiated coverage on International Business Machines Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with an Outperform rating. The price target for IBM is set to $188.00. For the second quarter, IBM had an EPS of $2.18, compared to year-ago quarter EPS of $2.31. The current stock performance of IBM shows a 52-week-high of $153.18 and a 52-week-low of $115.57. Moreover, at the end of the last trading period, the closing price was at $146.52. 
Needham initiated coverage on Lululemon Athletica Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) with a Buy rating. The price target for Lululemon Athletica is set to $470.00. In the second quarter, Lululemon Athletica showed an EPS of $2.68, compared to $2.20 from the year-ago quarter. The stock has a 52-week-high of $406.94 and a 52-week-low of $277.61. At the end of the last trading period, Lululemon Athletica closed at $384.45. 
With a Buy rating, Needham initiated coverage on On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>). The price target seems to have been set at $40.00 for On Holding. In the second quarter, On Holding showed an EPS of $0.04, compared to $0.15 from the year-ago quarter. The current stock performance of On Holding shows a 52-week-high of $37.08 and a 52-week-low of $15.44. Moreover, at the end of the last trading period, the closing price was at $29.86. 
With a Buy rating, Jefferies initiated coverage on CareTrust REIT Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRE#NYSE">CTRE</a>). The price target seems to have been set at $23.00 for CareTrust REIT. In the second quarter, CareTrust REIT showed an EPS of $0.35, compared to $0.37 from the year-ago quarter. The current stock performance of CareTrust REIT shows a 52-week-high of $21.37 and a 52-week-low of $16.22. Moreover, at the end of the last trading period, the closing price was at $20.02. 
With a Hold rating, Jefferies initiated coverage on National Health Investors Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NHI#NYSE">NHI</a>). The price target seems to have been set at $52.00 for National Health Investors. For the second quarter, National Health Investors had an EPS of $1.06, compared to year-ago quarter EPS of $1.26. The stock has a 52-week-high of $63.59 and a 52-week-low of $47.54. At the end of the last trading period, National Health Investors closed at $50.58. 
Roth MKM initiated coverage on Reviva Pharmaceuticals Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVPH#NASDAQ">RVPH</a>) with a Buy rating. The price target for Reviva Pharmaceuticals is set to $12.00. In the second quarter, Reviva Pharmaceuticals showed an EPS of $0.55, compared to $0.29 from the year-ago quarter. The stock has a 52-week-high of $9.25 and a 52-week-low of $1.56. At the end of the last trading period, Reviva Pharmaceuticals closed at $5.23. 
With a Hold rating, Jefferies initiated coverage on LTC Properties Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>). The price target seems to have been set at $29.00 for LTC Properties. LTC Properties earned $0.66 in the second quarter, compared to $0.64 in the year-ago quarter. At the moment, the stock has a 52-week-high of $42.17 and a 52-week-low of $30.87. LTC Properties closed at $31.88 at the end of the last trading period. 
With a Buy rating, Rosenblatt initiated coverage on Sonos Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>). The price target seems to have been set at $20.00 for Sonos. In the third quarter, Sonos showed an EPS of $0.16, compared to $0.19 from the year-ago quarter. The current stock performance of Sonos shows a 52-week-high of $21.98 and a 52-week-low of $12.78. Moreover, at the end of the last trading period, the closing price was at $12.95. 
With a Market Outperform rating, JMP Securities initiated coverage on Mirum Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRM#NASDAQ">MIRM</a>). The price target seems to have been set at $70.00 for Mirum Pharmaceuticals. Mirum Pharmaceuticals earned $1.94 in the second quarter, compared to $0.84 in the year-ago quarter. At the moment, the stock has a 52-week-high of $33.39 and a 52-week-low of $17.33. Mirum Pharmaceuticals closed at $31.00 at the end of the last trading period. 
With an Overweight rating, JP Morgan initiated coverage on First Citizens BancShares Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>). The price target seems to have been set at $1850.00 for First Citizens BancShares. For the second quarter, First Citizens BancShares had an EPS of $52.60, compared to year-ago quarter EPS of $16.86. The stock has a 52-week-high of $1512.07 and a 52-week-low of $505.84. At the end of the last trading period, First Citizens BancShares closed at $1352.88. 
For Maplebear Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>), Needham initiated coverage, by setting the current rating at Hold. Maplebear earned $0.21 in the third quarter, compared to $0.15 in the year-ago quarter. The stock has a 52-week-high of $42.95 and a 52-week-low of $33.67. At the end of the last trading period, Maplebear closed at $33.70. 
With a Buy rating, DA Davidson initiated coverage on Build-A-Bear Workshop Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBW#NYSE">BBW</a>). The price target seems to have been set at $42.00 for Build-A-Bear Workshop. For the second quarter, Build-A-Bear Workshop had an EPS of $0.57, compared to year-ago quarter EPS of $0.38. The current stock performance of Build-A-Bear Workshop shows a 52-week-high of $30.49 and a 52-week-low of $12.62. Moreover, at the end of the last trading period, the closing price was at $27.37. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings initiations.</a>