Wells Fargo & Company Issues Pessimistic Forecast for LTC Properties (NYSE:LTC) Stock Price

LTC Properties (NYSE:LTC) had its price objective lowered by Wells Fargo & Company from $38.00 to $36.00 in a report released 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 would suggest a potential downside of 1.53% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. 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 research note on Tuesday, January 7th.

LTC Properties Trading Up 1.3 %

Shares of NYSE:LTC traded up $0.47 during mid-day trading on Monday, reaching $36.56. The stock had a trading volume of 39,496 shares, compared to its average volume of 345,131. LTC Properties has a twelve month low of $31.14 and a twelve month 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. The firm has a market cap of $1.66 billion, a PE ratio of 15.69 and a beta of 0.96. The firm has a 50 day simple moving average of $34.55 and a two-hundred day simple moving average of $36.09.

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

Insider Activity

In other news, Director David L. Gruber bought 3,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the transaction, the director now owns 21,516 shares of the company’s stock, valued at $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of LTC Properties

Several institutional investors and hedge funds have recently modified their holdings of LTC. GF Fund Management CO. LTD. acquired a new position in LTC Properties in the 4th quarter valued at approximately $27,000. AlphaQuest LLC grew its holdings in LTC Properties by 23,470.0% during the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 2,347 shares in the last quarter. GAMMA Investing LLC grew its position in LTC Properties by 35.3% in the 4th quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 638 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in LTC Properties by 28.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 565 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of LTC Properties by 91.7% during the 4th quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 1,396 shares during the period. 69.25% of the stock is currently owned by institutional investors.

About LTC Properties

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.