LTC Properties price target raised to $39 from $37 at Wells Fargo

Wells Fargo raised the firm’s price target on LTC Properties (LTC) to $39 from $37 and keeps an Equal Weight rating on the shares. The firm continues to view Senior Housing as a preferred sector within the REIT space as fundamentals continue to point towards same-store net operating income growth levels in 2026 that can approximate or surpass 2025 levels. Wells remains constructive on skilled nursing facilities as well but with more caution near-term nearing state budgetary season and look for greater visibility on how states will reapportion dollars following the Medicaid cuts.