LTC Properties (NYSE:LTC) Price Target Raised to $43.00 at JMP Securities

Key Points

• Analysts at JMP Securities have raised their price target for LTC Properties from $40.00 to $43.00, indicating a potential upside of 21.56% from the company's previous closing price.
• The company reported earnings of $0.68 per share for the last quarter, beating estimates, with revenue growth of 20.2% year-over-year.
• Insider trading activity included EVP David M. Boitano purchasing 6,000 shares of LTC, reflecting a 62.33% increase in his position.

LTC Properties (NYSE:LTC - Get Free Report) had its price target boosted by investment analysts at JMP Securities from $40.00 to $43.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "market outperform" rating on the real estate investment trust's stock. JMP Securities' target price would suggest a potential upside of 21.56% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $36.00 price objective on shares of LTC Properties in a research note on Monday, May 19th. Wedbush upgraded shares of LTC Properties to a "strong-buy" rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $38.75.

LTC Properties Stock Up 0.6%

Shares of LTC Properties stock traded up $0.22 on Wednesday, reaching $35.37. 155,034 shares of the company were exchanged, compared to its average volume of 347,323. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 19.43 and a beta of 0.66. The company has a 50-day moving average of $35.06 and a 200 day moving average of $35.03. LTC Properties has a one year low of $31.70 and a one year high of $39.89. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 0.65.

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 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $30.18 million for the quarter, compared to analyst estimates of $49.97 million. LTC Properties had a net margin of 38.24% and a return on equity of 7.94%. The company's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, equities research analysts forecast that LTC Properties will post 2.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP David M. Boitano bought 6,000 shares of the stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $34.71 per share, for a total transaction of $208,260.00. Following the completion of the acquisition, the executive vice president directly owned 15,626 shares in the company, valued at approximately $542,378.46. This trade represents a 62.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On LTC Properties

Several institutional investors have recently modified their holdings of LTC. GF Fund Management CO. LTD. purchased a new stake in LTC Properties in the 4th quarter worth about $27,000. KBC Group NV purchased a new stake in shares of LTC Properties during the 1st quarter valued at approximately $33,000. Rossby Financial LCC bought a new position in LTC Properties in the 1st quarter worth approximately $58,000. Anchor Investment Management LLC bought a new stake in LTC Properties during the 1st quarter valued at $60,000. Finally, IFP Advisors Inc boosted its holdings in shares of LTC Properties by 21.2% in the second quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 296 shares during the period. 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.

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