Huntington Begins Coverage on LTC Properties (NYSE:LTC)

Key Points

• Huntington initiated coverage of LTC Properties with an “outperform” rating and a $47 price target, implying approximately 10.4% upside from the reported share price.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of $44.43.
• LTC Properties exceeded quarterly expectations, reporting $0.56 in EPS versus $0.48 expected and $98.08 million in revenue, up 63.6% year over year. Institutional investors own 69.25% of the stock, while one director recently purchased shares.

Equities research analysts at Huntington started coverage on shares of LTC Properties (NYSE:LTC - Get Free Report) in a report released on Thursday, Briefing.com reports. The brokerage set an "outperform" rating and a $47.00 price target on the real estate investment trust's stock. Huntington's price objective would indicate a potential upside of 10.38% from the stock's current price.

Several other research firms also recently weighed in on LTC. Royal Bank Of Canada upgraded LTC Properties from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $41.00 to $45.00 in a research note on Friday, August 14th. Wells Fargo & Company boosted their price objective on LTC Properties from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft raised shares of LTC Properties from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Thursday, August 27th. Citigroup reiterated a "market outperform" rating on shares of LTC Properties in a research note on Wednesday, June 10th. Finally, Nomura raised shares of LTC Properties to a "neutral" rating in a research report on Friday, August 14th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, LTC Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.43.

LTC Properties Price Performance

LTC opened at $42.58 on Thursday. LTC Properties has a fifty-two week low of $33.64 and a fifty-two week high of $43.00. The firm has a 50-day moving average of $40.45 and a 200 day moving average of $38.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 8.60 and a current ratio of 8.60. The firm has a market cap of $2.30 billion, a P/E ratio of 15.71 and a beta of 0.58.

LTC Properties (NYSE:LTC - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The firm had revenue of $98.08 million for the quarter, compared to analysts' expectations of $79.01 million. During the same period in the previous year, the company earned $0.68 earnings per share. The company's quarterly revenue was up 63.6% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, research analysts expect that LTC Properties will post 2.78 EPS for the current year.

Insider Transactions at LTC Properties

In other news, Director David L. Gruber purchased 3,500 shares of the stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $38.30 per share, with a total value of $134,050.00. Following the completion of the acquisition, the director owned 47,545 shares in the company, valued at $1,820,973.50. This represents a 7.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Timothy Triche sold 3,125 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $39.54, for a total transaction of $123,562.50. Following the completion of the transaction, the director owned 37,786 shares of the company's stock, valued at $1,494,058.44. This trade represents a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On LTC Properties

A number of institutional investors and hedge funds have recently made changes to their positions in LTC. Keudell Morrison Wealth Management purchased a new stake in shares of LTC Properties during the fourth quarter valued at approximately $1,365,000. Legal & General Group Plc purchased a new position in shares of LTC Properties in the second quarter worth $11,300,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of LTC Properties in the fourth quarter worth $6,556,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in LTC Properties during the 2nd quarter valued at $1,194,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in LTC Properties by 178.2% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 129,100 shares of the real estate investment trust's stock worth $4,438,000 after acquiring an additional 82,700 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company's stock.

About LTC Properties

LTC Properties, Inc NYSE: LTC is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.

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