Wells Fargo & Company Increases LTC Properties (NYSE:LTC) Price Target to $40.00

LTC Properties (NYSE:LTC) had its price target hoisted by investment analysts at Wells Fargo & Company from $39.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 9.11% from the company’s current price.

A number of other equities research analysts have also commented on LTC. Royal Bank Of Canada raised their price objective on LTC Properties from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Friday, March 20th. Cantor Fitzgerald decreased their price objective on LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

LTC Properties Stock Down 2.0%

NYSE LTC traded down $0.75 during trading on Monday, reaching $36.66. 132,955 shares of the company’s stock were exchanged, compared to its average volume of 398,765. LTC Properties has a fifty-two week low of $33.64 and a fifty-two week high of $40.80. The firm has a market capitalization of $1.88 billion, a PE ratio of 14.84 and a beta of 0.57. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.73. The company’s fifty day simple moving average is $38.36 and its 200-day simple moving average is $37.27.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.17. LTC Properties had a return on equity of 10.87% and a net margin of 38.99%.The firm had revenue of $94.41 million during the quarter, compared to analyst estimates of $72.98 million. During the same period last year, the company posted $0.65 EPS. The business’s quarterly revenue was up 94.7% compared to the same quarter last year. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. Sell-side analysts predict that LTC Properties will post 2.77 EPS for the current year.

Insiders Place Their Bets

In related news, Director David L. Gruber bought 4,000 shares of LTC Properties stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $38.41 per share, for a total transaction of $153,640.00. Following the acquisition, the director owned 44,045 shares in the company, valued at $1,691,768.45. This trade represents a 9.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On LTC Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in LTC Properties by 37.0% in the 1st quarter. Bank of America Corp DE now owns 170,814 shares of the real estate investment trust’s stock worth $6,347,000 after purchasing an additional 46,163 shares during the last quarter. Amundi lifted its holdings in LTC Properties by 13.8% in the 1st quarter. Amundi now owns 29,701 shares of the real estate investment trust’s stock worth $1,104,000 after purchasing an additional 3,613 shares during the last quarter. California State Teachers Retirement System lifted its holdings in LTC Properties by 14.6% in the 1st quarter. California State Teachers Retirement System now owns 46,165 shares of the real estate investment trust’s stock worth $1,715,000 after purchasing an additional 5,876 shares during the last quarter. Eversept Partners LP acquired a new stake in LTC Properties in the 1st quarter worth approximately $11,930,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in LTC Properties by 3.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 21,413 shares of the real estate investment trust’s stock worth $796,000 after purchasing an additional 616 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.