LTC Properties initiated with an Equal Weight at Wells Fargo

Wells Fargo analyst Connor Siversky initiated coverage of LTC Properties with an Equal Weight rating and $36 price target. The company will benefit from demographic tailwinds and accretive investments, but Brookdale will exit its lease in December, and asset transitions and sales are the likely outcome, the analyst tells investors in a research note. The firm views LTC’s 2023 growth potential as priced into the shares.