LTC Properties rises after BMO upgrades to 'market perform'

** Shares of the real estate investment trust LTC Properties LTC.N up 1% at about $36 in premarket trading

** BMO upgrades co's rating to "market perform" from "underperform", keeps PT unchanged at $39

** Brokerage says LTC is ramping up its shift to senior housing operating portfolio under new co-CEOs

** Notes co's solid balance sheet backs its acquisition plans, though tenant and recycling risks make near-term M&A unlikely as asset management gains importance

** One of seven brokerages rate the stock "buy", five "hold" and one "sell"; their median PT is $37- data compiled by LSEG

** As of last close, stock had risen 2.6% YTD