On July the 8th of 2016, LTC Properties Inc. (NYSE: LTC) has announced the acquisition of Village at Athens. The assisted living and memory care community contains 70 units and is located near Athens, Georgia. LTC Properties acquired the property for $14.3 million. Construction was just recently completed on the property, which acquired its certificate for occupancy in May of 2016.

The community has need add to a pre-existing master lease along with an affiliate of Thrive Senior Living. According to the company’s press release, LTC’s relationship with Thrive now includes three communities, with two currently in development. Both new developments are expected to open by the end of the year. LTC is an investment trust, which invests in health care and senior housing properties. To date, the company maintain a heft portfolio consisting of more than 200 assisted living communities, as well as skilled nursing centers and memory care facilities. The company’s properties are located in 30 states throughout the country.

On Friday, LTC stock climbed 1.86% to settle at $52.54. Over the past year, the stock has floated between $38.89 and $52.58. Two days ago, LTC Properties was upgraded to buy at Zacks Investment Research. Zacks also has a $58 price target for the stock. At the end of June, LTC stock was downgraded from neutral to underperform by Hilliard Lyons.

For the next quarterly earnings, four analysts have a consensus EPS forecast of .77 for LTC, with a high of .78 and a low of .76. For the 1st quarter, FFO, funds from operations, increased 21.1%  over the previous year. FFO per share was .76 cents for the quarter ending on March 31, 2016.

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