Wells Fargo & Company Cuts LTC Properties (NYSE:LTC) Price Target to $36.00

LTC Properties (NYSE:LTC) had its target price cut by equities research analysts at Wells Fargo & Company from $38.00 to $36.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential downside of 1.53% from the stock’s previous close.

Several other research firms also recently commented on LTC. JMP Securities upgraded LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Tuesday, January 7th. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th.

LTC Properties Stock Up 1.3 %

LTC Properties stock traded up $0.47 during trading hours on Monday, hitting $36.56. 39,496 shares of the stock traded hands, compared to its average volume of 345,131. The company has a market cap of $1.66 billion, a PE ratio of 15.69 and a beta of 0.96. The firm’s 50-day moving average price is $34.55 and its two-hundred day moving average price is $36.09. LTC Properties has a one year low of $31.14 and a one year high of $39.89. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. The business had revenue of $34.81 million during the quarter, compared to the consensus estimate of $45.25 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. On average, research analysts forecast that LTC Properties will post 2.79 EPS for the current year.

Insider Activity at LTC Properties

In related news, Director David L. Gruber purchased 3,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the completion of the transaction, the director now owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This represents a 16.20 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LTC Properties

Institutional investors have recently bought and sold shares of the stock. Strategic Financial Concepts LLC raised its position in shares of LTC Properties by 3,358.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust’s stock worth $22,735,000 after buying an additional 638,999 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of LTC Properties by 312.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 332,173 shares of the real estate investment trust’s stock valued at $12,187,000 after acquiring an additional 251,609 shares during the period. State Street Corp lifted its holdings in shares of LTC Properties by 5.8% during the 3rd quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust’s stock valued at $121,262,000 after acquiring an additional 181,973 shares in the last quarter. Marshall Wace LLP boosted its position in LTC Properties by 37.3% during the 4th quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust’s stock worth $19,082,000 after purchasing an additional 150,023 shares during the period. Finally, Norges Bank purchased a new position in LTC Properties in the fourth quarter valued at about $5,000,000. 69.25% of the stock is currently 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.