LTC Properties (NYSE:LTC) Stock Rating Upgraded by BMO Capital Markets

Key Points

• LTC Properties' stock rating has been upgraded by BMO Capital Markets from "underperform" to "market perform," with a target price of $39.00, indicating a 10.03% upside potential.
• Other analysts, including Wedbush and Royal Bank of Canada, have also revised their ratings and target prices for LTC Properties, resulting in a consensus rating of "Moderate Buy."
• The company reported a 20.2% year-over-year revenue increase in its most recent earnings, surpassing analysts' consensus expectations with an EPS of $0.68 compared to an expected $0.67.

LTC Properties (NYSE:LTC - Get Free Report) was upgraded by investment analysts at BMO Capital Markets from an "underperform" rating to a "market perform" rating in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $39.00 target price on the real estate investment trust's stock. BMO Capital Markets' price target indicates a potential upside of 10.03% from the company's current price.

A number of other research firms also recently commented on LTC. Wedbush raised LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada boosted their target price on LTC Properties from $36.00 to $37.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. JMP Securities boosted their target price on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company boosted their price target on LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, LTC Properties currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

LTC Properties Stock Up 0.8%

LTC opened at $35.45 on Wednesday. The firm's 50-day simple moving average is $35.69 and its 200-day simple moving average is $35.36. 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 has a twelve month low of $31.70 and a twelve month high of $39.89. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 19.48 and a beta of 0.69.

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, topping analysts' consensus estimates of $0.67 by $0.01. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The firm had revenue of $30.18 million for the quarter, compared to analyst estimates of $49.97 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company's revenue was up 20.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Equities research analysts anticipate that LTC Properties will post 2.79 EPS 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 company's stock in a transaction dated Friday, June 27th. The stock was purchased 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 owned 15,626 shares in the company, valued at $542,378.46. This trade represents a 62.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On LTC Properties

Several hedge funds have recently made changes to their positions in LTC. GF Fund Management CO. LTD. purchased a new position in shares of LTC Properties during the fourth quarter valued at approximately $27,000. KBC Group NV purchased a new stake in LTC Properties in the first quarter worth $33,000. Elevation Point Wealth Partners LLC purchased a new stake in LTC Properties in the second quarter worth $41,000. Rossby Financial LCC purchased a new stake in LTC Properties in the first quarter worth $58,000. Finally, Anchor Investment Management LLC purchased a new stake in LTC Properties in the first quarter worth $60,000. 69.25% of the stock is owned by hedge funds and other 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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