LTC Properties (NYSE:LTC) Stock Rating Reaffirmed by Wells Fargo & Company

LTC Properties (NYSE:LTC)‘s stock had its “equal weight” rating reissued by stock analysts at Wells Fargo & Company in a research note issued on Tuesday, Benzinga reports. They presently have a $37.00 price target on the real estate investment trust’s stock, up from their previous price target of $36.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 2.24% from the company’s previous close.

Separately, Wedbush reiterated an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research report on Friday, September 20th.

LTC Properties Stock Down 1.0 %

LTC Properties stock opened at $36.19 on Tuesday. The stock has a fifty day moving average of $36.48 and a 200 day moving average of $34.65. LTC Properties has a one year low of $30.30 and a one year high of $38.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.29 and a current ratio of 11.29. The stock has a market cap of $1.57 billion, a PE ratio of 18.85 and a beta of 0.91.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.22). LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The business had revenue of $50.12 million during the quarter, compared to the consensus estimate of $33.47 million. During the same quarter in the previous year, the business posted $0.66 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts predict that LTC Properties will post 2.69 EPS for the current year.

Insider Activity

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the sale, the director now owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Timothy Triche sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Gruber acquired 6,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $35.75 per share, with a total value of $214,500.00. Following the completion of the purchase, the director now directly owns 18,412 shares in the company, valued at $658,229. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LTC. Truist Financial Corp purchased a new stake in shares of LTC Properties in the second quarter worth approximately $442,000. The Manufacturers Life Insurance Company increased its stake in shares of LTC Properties by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 21,311 shares of the real estate investment trust’s stock valued at $735,000 after buying an additional 1,037 shares during the period. Millennium Management LLC lifted its stake in LTC Properties by 33.7% in the second quarter. Millennium Management LLC now owns 111,188 shares of the real estate investment trust’s stock worth $3,836,000 after acquiring an additional 28,039 shares during the period. Deerfield Management Company L.P. Series C increased its position in LTC Properties by 155.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 17,439 shares of the real estate investment trust’s stock valued at $602,000 after purchasing an additional 10,621 shares during the period. Finally, Caxton Associates LP purchased a new position in LTC Properties during the second quarter valued at approximately $357,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

About LTC Properties

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.