LTC Properties (NYSE:LTC) Given New $37.00 Price Target at Wells Fargo & Company

LTC Properties (NYSE:LTC) had its price objective upped by equities research analysts at Wells Fargo & Company from $36.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 2.25% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wedbush upgraded LTC Properties to a “strong-buy” rating in a research report on Wednesday, July 2nd. JMP Securities lifted their price objective on LTC Properties from $40.00 to $43.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Finally, Royal Bank Of Canada lifted their price objective on LTC Properties from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, LTC Properties presently has a consensus rating of “Buy” and a consensus price target of $39.25.

LTC Properties Price Performance

NYSE LTC traded up $0.10 during trading hours on Wednesday, reaching $36.19. 31,926 shares of the stock traded hands, compared to its average volume of 348,750. The stock has a 50 day simple moving average of $35.27 and a two-hundred day simple moving average of $35.18. LTC Properties has a 1 year low of $31.70 and a 1 year high of $39.89. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 19.90 and a beta of 0.66.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The business had revenue of $30.18 million for the quarter, compared to the consensus estimate of $49.97 million. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. On average, analysts predict that LTC Properties will post 2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David M. Boitano acquired 6,000 shares of the business’s stock in a transaction on Friday, June 27th. The shares were acquired at an average cost of $34.71 per share, with a total value of $208,260.00. Following the transaction, the executive vice president owned 15,626 shares in the company, valued at $542,378.46. The trade was a 62.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of LTC Properties

Several large investors have recently bought and sold shares of the company. Maryland State Retirement & Pension System boosted its position in LTC Properties by 2.1% during the 2nd quarter. Maryland State Retirement & Pension System now owns 13,498 shares of the real estate investment trust’s stock valued at $467,000 after acquiring an additional 283 shares in the last quarter. IFP Advisors Inc boosted its position in shares of LTC Properties by 21.2% in the 2nd quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 296 shares in the last quarter. Keudell Morrison Wealth Management boosted its position in shares of LTC Properties by 0.9% in the 1st quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust’s stock worth $1,301,000 after purchasing an additional 328 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of LTC Properties by 5.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,953 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 353 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of LTC Properties by 2.9% in the 1st quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 360 shares in the last quarter. 69.25% of the stock is owned by institutional investors.

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.