LTC Properties (NYSE:LTC) Stock Price Target Raised at Royal Bank Of Canada

LTC Properties (NYSE:LTC) had its price target upped by Royal Bank Of Canada from $52.00 to $53.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s price target indicates a potential upside of 19.67% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Huntington initiated coverage on shares of LTC Properties in a research note on Tuesday, November 3rd. They set a “strong-buy” rating on the stock. Weiss Ratings downgraded shares of LTC Properties from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, September 24th. Wells Fargo & Company increased their target price on shares of LTC Properties from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Thursday, August 27th. Finally, Nomura upgraded shares of LTC Properties to a “neutral” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, LTC Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

LTC Properties Stock Performance

LTC Properties stock traded down $0.69 during mid-day trading on Tuesday, hitting $44.29. 139,290 shares of the company’s stock traded hands, compared to its average volume of 510,853. The firm has a 50 day moving average price of $43.08 and a 200 day moving average price of $39.75. The company has a quick ratio of 8.60, a current ratio of 10.37 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.49 billion, a PE ratio of 4.64 and a beta of 0.55. LTC Properties has a one year low of $33.64 and a one year high of $46.92.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported $6.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $5.69. LTC Properties had a return on equity of 37.19% and a net margin of 127.38%. The company had revenue of $114.08 million during the quarter, compared to analyst estimates of $86.30 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 66.3% on a year-over-year basis. On average, equities analysts forecast that LTC Properties will post 2.77 EPS for the current year.

Institutional Trading of LTC Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in LTC Properties by 8.6% in the second quarter. IFP Advisors Inc now owns 3,079 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 245 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in LTC Properties by 3.7% during the third quarter. Commonwealth Equity Services LLC now owns 8,733 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 314 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in LTC Properties by 39.2% during the third quarter. Farther Finance Advisors LLC now owns 1,256 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 354 shares in the last quarter. Nissay Asset Management Corp Japan lifted its position in shares of LTC Properties by 5.8% in the second quarter. Nissay Asset Management Corp Japan now owns 7,999 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 439 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of LTC Properties by 2.5% in the first quarter. Assetmark Inc. now owns 19,129 shares of the real estate investment trust’s stock worth $711,000 after buying an additional 462 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.

About LTC Properties

LTC Properties, Inc is a real estate investment trust focused on properties serving the senior housing and health care sectors. Its investments include assisted living, memory care, independent living and skilled nursing facilities.

The company provides capital to property owners and operators through real estate investments, including property leases, mortgage loans and joint ventures. LTC generally partners with third-party operators that provide care and manage the facilities.

Founded in 1992 and headquartered in Westlake Village, California, LTC invests in properties across the United States.