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

Key Points

• Wells Fargo & Company has increased the price target for LTC Properties from $36.00 to $37.00, indicating a potential upside of 2.25% from the stock's previous close.
• The stock has received multiple upgrades from various analysts, including a "strong-buy" rating from Wedbush and a "market outperform" rating with a price target of $43.00 from JMP Securities.
• In the latest quarterly earnings report, LTC Properties posted earnings of $0.68 per share, exceeding analyst estimates, with a 20.2% year-over-year increase in revenue.

LTC Properties (NYSE:LTC - Get Free Report) had its price target boosted by Wells Fargo & Company from $36.00 to $37.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's target price suggests a potential upside of 1.37% from the company's previous close.

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

LTC Properties Price Performance

NYSE:LTC traded up $0.03 during mid-day trading on Wednesday, hitting $36.50. 272,712 shares of the stock traded hands, compared to its average volume of 378,215. The business's 50-day moving average price is $35.35 and its 200 day moving average price is $35.23. The company has a market cap of $1.68 billion, a PE ratio of 20.06 and a beta of 0.69. LTC Properties has a 12-month low of $31.70 and a 12-month high of $39.89. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.67.

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

Insider Buying and Selling

In related news, EVP David M. Boitano purchased 6,000 shares of the business's stock in a transaction on Friday, June 27th. The stock was acquired at an average price of $34.71 per share, with a total value of $208,260.00. Following the purchase, the executive vice president directly owned 15,626 shares in the company, valued at approximately $542,378.46. This represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LTC Properties

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in LTC Properties by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 255,309 shares of the real estate investment trust's stock worth $9,051,000 after buying an additional 8,646 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of LTC Properties in the 1st quarter worth approximately $9,358,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of LTC Properties in the 1st quarter worth approximately $200,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of LTC Properties by 15.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust's stock worth $33,653,000 after acquiring an additional 126,598 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of LTC Properties in the 4th quarter worth approximately $294,000. Hedge funds and other institutional investors own 69.25% of the company's stock.

About LTC Properties

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.