LTC Properties (NYSE:LTC) Price Target Raised to $37.00

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 target price upped by investment analysts at Royal Bank Of Canada from $36.00 to $37.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 4.33% from the stock's previous close.

Other equities analysts have also recently issued research reports about the company. Wedbush upgraded LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. JMP Securities increased their target price on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, LTC Properties currently has a consensus rating of "Buy" and a consensus price target of $39.00.

LTC Properties Trading Down 1.6%

Shares of LTC traded down $0.56 during trading hours on Friday, reaching $35.47. The stock had a trading volume of 40,679 shares, compared to its average volume of 347,369. 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 has a 52 week low of $31.70 and a 52 week high of $39.89. The firm has a 50-day moving average of $35.09 and a 200 day moving average of $35.07. The company has a market cap of $1.63 billion, a P/E ratio of 19.49 and a beta of 0.66.

LTC Properties (NYSE:LTC - Get Free Report) last released 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. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%. The business had revenue of $30.18 million for the quarter, compared to analysts' expectations of $49.97 million. During the same quarter in the previous year, the business posted $0.45 EPS. LTC Properties's revenue for the quarter was up 20.2% on a year-over-year basis. On average, sell-side analysts expect that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at LTC Properties

In related news, EVP David M. Boitano acquired 6,000 shares of the firm's 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 acquisition, the executive vice president directly owned 15,626 shares of the company's stock, valued at approximately $542,378.46. The trade was a 62.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On LTC Properties

Several hedge funds have recently modified their holdings of LTC. Jupiter Asset Management Ltd. bought a new position in shares of LTC Properties in the 1st quarter valued at about $9,358,000. Advisors Capital Management LLC grew its holdings in shares of LTC Properties by 51.9% in the 2nd quarter. Advisors Capital Management LLC now owns 723,003 shares of the real estate investment trust's stock valued at $25,023,000 after acquiring an additional 246,919 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of LTC Properties by 37.3% in the 4th quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust's stock valued at $19,082,000 after acquiring an additional 150,023 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $33,653,000 after purchasing an additional 126,598 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in LTC Properties in the 1st quarter valued at about $4,487,000. 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.