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

Key Points

• Royal Bank of Canada raised its price target on LTC Properties from $52 to $53 and maintained an “outperform” rating, implying 19.67% upside from the prior closing price.
• Analyst views are broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $47.60.
• LTC reported quarterly EPS of $6.39, above the $0.70 consensus estimate, and revenue of $114.08 million versus expectations of $86.30 million; revenue grew 66.3% year over year.

LTC Properties (NYSE:LTC - Get Free Report) had its price target hoisted by Royal Bank Of Canada from $52.00 to $53.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective indicates a potential upside of 19.67% from the company's previous close.

Other research analysts also recently issued research reports about the company. Huntington began coverage on LTC Properties in a report on Tuesday, November 3rd. They set a "strong-buy" rating on the stock. Weiss Ratings downgraded LTC Properties from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, September 24th. Wells Fargo & Company upped their price target on 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 upgraded LTC Properties from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research note on Thursday, August 27th. Finally, Nomura raised shares of LTC Properties to a "neutral" rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $47.60.

LTC Properties Stock Down 1.5%

Shares of LTC Properties stock traded down $0.69 during trading on Tuesday, reaching $44.29. The company had a trading volume of 139,290 shares, compared to its average volume of 510,853. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 4.64 and a beta of 0.55. The firm's fifty day moving average is $43.08 and its 200-day moving average is $39.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 8.60 and a current ratio of 10.37. LTC Properties has a fifty-two week low of $33.64 and a fifty-two week high of $46.92.

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

Institutional Trading of LTC Properties

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of LTC Properties during the second quarter valued at $345,915,000. Aberdeen Group plc increased its holdings in shares of LTC Properties by 2,727.5% in the 3rd quarter. Aberdeen Group plc now owns 4,496,798 shares of the real estate investment trust's stock worth $192,778,000 after acquiring an additional 4,337,760 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of LTC Properties in the 2nd quarter worth about $34,396,000. Advisors Capital Management LLC acquired a new stake in shares of LTC Properties in the 2nd quarter worth about $31,148,000. Finally, Bank of New York Mellon Corp bought a new stake in LTC Properties in the 2nd quarter valued at about $20,008,000. 69.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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