LTC Properties (NYSE:LTC) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada has raised its price target for LTC Properties from $36.00 to $37.00, suggesting a potential upside of 3.55% based on current stock prices.
• Analysts are generally optimistic, with LTC Properties having a consensus rating of "Buy" and a target price of $39.00, indicating favorable market sentiment.
• During recent trading, LTC Properties shares increased to $35.73, with a notable 20.2% year-over-year revenue growth reported in its latest earnings results.

LTC Properties (NYSE:LTC - Get Free Report) had its price target raised by Royal Bank Of Canada from $36.00 to $37.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target points to a potential upside of 3.55% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. JMP Securities upped their target price 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. Wedbush upgraded LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $39.00.

LTC Properties Stock Performance

Shares of NYSE:LTC traded up $0.42 during midday trading on Friday, hitting $35.73. The company's stock had a trading volume of 133,868 shares, compared to its average volume of 348,019. The company has a debt-to-equity ratio of 0.67, a quick ratio of 10.55 and a current ratio of 9.06. The stock's 50 day simple moving average is $35.06 and its 200 day simple moving average is $35.04. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.63 and a beta of 0.66. LTC Properties has a fifty-two week low of $31.70 and a fifty-two week high of $39.89.

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

Insider Activity at LTC Properties

In other LTC Properties news, EVP David M. Boitano bought 6,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were acquired at an average price of $34.71 per share, with a total value of $208,260.00. Following the completion of the purchase, the executive vice president directly owned 15,626 shares in the company, valued at $542,378.46. The trade was a 62.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On LTC Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Capital Management LLC increased its stake in shares of LTC Properties by 51.9% in the second quarter. Advisors Capital Management LLC now owns 723,003 shares of the real estate investment trust's stock valued at $25,023,000 after buying an additional 246,919 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in LTC Properties by 7.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,104 shares of the real estate investment trust's stock valued at $350,000 after acquiring an additional 709 shares in the last quarter. Geode Capital Management LLC increased its position in LTC Properties by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,245,676 shares of the real estate investment trust's stock valued at $43,118,000 after acquiring an additional 26,631 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of LTC Properties in the second quarter worth about $856,000. Finally, Bank of Montreal Can lifted its position in shares of LTC Properties by 7.1% during the second quarter. Bank of Montreal Can now owns 7,461 shares of the real estate investment trust's stock worth $258,000 after purchasing an additional 495 shares in the last quarter. Institutional investors own 69.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.