Wells Fargo Notes Resilient REIT Operations, Raises LTC Target

Core Insights - LTC Properties, Inc. (NYSE:LTC) is recognized as one of the 13 highest paying monthly dividend stocks to buy [1] - Wells Fargo has raised its price target for LTC from $36 to $37 while maintaining an Equal Weight rating, citing resilient REIT operations despite macroeconomic concerns [2] - The pandemic significantly impacted senior housing, with many tenants struggling to pay rent, but LTC's financial strength allowed it to maintain its monthly dividend [3] Company Overview - LTC Properties, Inc. owns 192 properties across 25 states, with a growing opportunity set as the US population ages [4] - The company focuses on senior housing and care assets, investing through various structures including senior housing operating properties and triple-net leases [6] Financial Performance - LTC currently offers a forward dividend yield of approximately 6.6%, with management expecting core FFO to remain flat, projected at $2.68 per share in 2024 and between $2.67 to $2.71 in 2025, which comfortably covers the annual dividend of $2.28 per share [5]