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LTC Properties (NYSE:LTC) Given New $36.00 Price Target at Wells Fargo & Company

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Key Points

  • Wells Fargo & Company has decreased its price target for LTC Properties from $37.00 to $36.00, while maintaining an "equal weight" rating, indicating a slight potential upside of 1.46% from the current stock price.
  • LTC Properties reported $0.68 earnings per share for the last quarter, surpassing expectations slightly, with a 20.2% increase in quarterly revenue compared to the previous year.
  • Analysts have varying ratings on the stock, with two giving a Strong Buy rating, while the consensus rating is a "Moderate Buy" with an average price target of $38.60.
  • MarketBeat previews top five stocks to own in November.

LTC Properties (NYSE:LTC - Get Free Report) had its target price cut by equities researchers at Wells Fargo & Company from $37.00 to $36.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's target price points to a potential upside of 1.46% from the company's current price.

Other analysts have also issued reports about the stock. Weiss Ratings restated a "hold (c+)" rating on shares of LTC Properties in a research report on Wednesday, October 8th. JMP Securities restated a "market outperform" rating and set a $43.00 price target on shares of LTC Properties in a research report on Friday. Cantor Fitzgerald initiated coverage on shares of LTC Properties in a research report on Wednesday, October 1st. They set a "neutral" rating and a $38.00 price target for the company. BMO Capital Markets raised shares of LTC Properties from an "underperform" rating to a "market perform" rating and set a $39.00 price objective for the company in a research note on Wednesday, September 24th. Finally, Wedbush upgraded shares of LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.60.

Check Out Our Latest Stock Report on LTC Properties

LTC Properties Stock Down 0.1%

Shares of NYSE:LTC opened at $35.48 on Tuesday. LTC Properties has a 52-week low of $31.70 and a 52-week high of $39.89. The firm has a fifty day moving average of $35.85 and a 200 day moving average of $35.38. The firm has a market capitalization of $1.63 billion, a PE ratio of 19.46 and a beta of 0.68. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06.

LTC Properties (NYSE:LTC - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The company had revenue of $30.18 million during the quarter, compared to analyst estimates of $49.97 million. During the same period in the previous year, the business earned $0.45 earnings per share. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. As a group, research analysts anticipate that LTC Properties will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On LTC Properties

A number of institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of LTC Properties by 3.5% during the first quarter. Principal Financial Group Inc. now owns 255,309 shares of the real estate investment trust's stock valued at $9,051,000 after purchasing an additional 8,646 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of LTC Properties during the first quarter valued at approximately $9,358,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of LTC Properties during the first quarter valued at approximately $200,000. Charles Schwab Investment Management Inc. increased its stake in shares of LTC Properties by 15.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust's stock valued at $33,653,000 after purchasing an additional 126,598 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in LTC Properties by 7.5% in the first quarter. Asset Management One Co. Ltd. now owns 124,312 shares of the real estate investment trust's stock worth $4,407,000 after purchasing an additional 8,651 shares during the last quarter. 69.25% of the stock is owned by institutional investors.

About LTC Properties

(Get Free Report)

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.

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