JMP Securities Reiterates Market Outperform Rating for LTC Properties (NYSE:LTC)

LTC Properties (NYSE:LTC)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research note issued on Friday,Benzinga reports. They presently have a $43.00 price objective on the real estate investment trust’s stock. JMP Securities’ price target would suggest a potential upside of 22.15% from the company’s current price.

LTC has been the subject of a number of other reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LTC Properties in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on LTC Properties from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. Cantor Fitzgerald initiated coverage on LTC Properties in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 target price for the company. BMO Capital Markets raised LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 target price for the company in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their target price on LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, LTC Properties presently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

LTC Properties Stock Performance

Shares of LTC Properties stock opened at $35.20 on Friday. LTC Properties has a one year low of $31.70 and a one year high of $39.89. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 19.34 and a beta of 0.68. The business has a 50-day simple moving average of $35.85 and a 200 day simple moving average of $35.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The business had revenue of $30.18 million during the quarter, compared to analyst estimates of $49.97 million. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue was up 20.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. On average, research analysts anticipate that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LTC Properties

Institutional investors have recently modified their holdings of the business. KBC Group NV bought a new position in shares of LTC Properties in the first quarter valued at approximately $33,000. Harbor Capital Advisors Inc. grew its holdings in shares of LTC Properties by 55.7% in the third quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 352 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of LTC Properties in the second quarter valued at approximately $41,000. Rossby Financial LCC bought a new position in shares of LTC Properties in the first quarter valued at approximately $58,000. Finally, IFP Advisors Inc grew its holdings in shares of LTC Properties by 21.2% in the second quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 296 shares in the last quarter. 69.25% of the stock is owned by 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.