Wells Fargo & Company Raises LTC Properties (NYSE:LTC) Price Target to $37.00

LTC Properties (NYSE:LTC) had its target price raised by equities researchers at Wells Fargo & Company from $36.00 to $37.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 0.99% from the stock’s previous close.

A number of other research analysts have also recently issued reports on LTC. JMP Securities reissued a “market outperform” rating and issued a $43.00 target price on shares of LTC Properties in a research note on Friday, October 17th. Royal Bank Of Canada lifted their price objective on LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. Cantor Fitzgerald began coverage on LTC Properties in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of LTC Properties in a report on Monday, November 17th. Finally, BMO Capital Markets raised shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price target on the stock in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, LTC Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

LTC Properties Stock Up 0.4%

Shares of NYSE:LTC opened at $36.64 on Tuesday. The company has a 50 day moving average price of $35.58 and a two-hundred day moving average price of $35.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06. The company has a market capitalization of $1.74 billion, a PE ratio of 20.13 and a beta of 0.67. LTC Properties has a 52 week low of $31.70 and a 52 week high of $39.34.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The company had revenue of $50.05 million for the quarter, compared to analysts’ expectations of $65.94 million. During the same period last year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. Analysts forecast that LTC Properties will post 2.79 earnings per share for the current year.

Insiders Place Their Bets

In other LTC Properties news, Director David L. Gruber purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $35.41 per share, with a total value of $141,640.00. Following the purchase, the director directly owned 28,738 shares of the company’s stock, valued at $1,017,612.58. The trade was a 16.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hancock Whitney Corp increased its stake in LTC Properties by 44.4% in the 3rd quarter. Hancock Whitney Corp now owns 13,266 shares of the real estate investment trust’s stock valued at $489,000 after buying an additional 4,079 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of LTC Properties by 0.8% in the third quarter. CANADA LIFE ASSURANCE Co now owns 72,856 shares of the real estate investment trust’s stock valued at $2,642,000 after acquiring an additional 543 shares during the last quarter. Triumph Capital Management bought a new stake in LTC Properties during the third quarter worth about $335,000. XTX Topco Ltd raised its holdings in LTC Properties by 277.4% during the third quarter. XTX Topco Ltd now owns 27,679 shares of the real estate investment trust’s stock worth $1,020,000 after acquiring an additional 20,345 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in LTC Properties during the third quarter valued at approximately $397,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.