LTC Properties (NYSE:LTC) Earns “Equal Weight” Rating from Wells Fargo & Company

LTC Properties (NYSE:LTC)‘s stock had its “equal weight” rating reiterated by research analysts at Wells Fargo & Company in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $37.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $36.00. Wells Fargo & Company‘s price objective points to a potential upside of 0.93% from the company’s current price.

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

LTC Properties Trading Down 0.1 %

LTC stock traded down $0.03 during midday trading on Tuesday, reaching $36.66. The stock had a trading volume of 31,063 shares, compared to its average volume of 281,985. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 19.17 and a beta of 0.91. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88. LTC Properties has a twelve month low of $30.30 and a twelve month high of $38.28. The business has a fifty day simple moving average of $36.51 and a two-hundred day simple moving average of $34.58.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The company had revenue of $50.12 million during the quarter, compared to the consensus estimate of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. As a group, research analysts expect that LTC Properties will post 2.69 EPS for the current fiscal year.

Insider Buying and Selling at LTC Properties

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LTC. GAMMA Investing LLC lifted its stake in LTC Properties by 91.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 687 shares during the last quarter. Walleye Trading LLC bought a new stake in LTC Properties in the first quarter valued at approximately $209,000. Van ECK Associates Corp lifted its position in shares of LTC Properties by 11.7% in the second quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 689 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of LTC Properties by 8.6% in the second quarter. QRG Capital Management Inc. now owns 6,931 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 548 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC bought a new position in shares of LTC Properties during the 1st quarter worth approximately $232,000. 69.25% of the stock is currently owned by institutional investors and hedge funds.

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.