LTC Properties (NYSE:LTC) Releases Earnings Results, Misses Estimates By $0.05 EPS

LTC Properties (NYSE:LTC) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05), Zacks reports. LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The company had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same period last year, the company posted $0.65 earnings per share. The company’s revenue was up 13.1% compared to the same quarter last year.

LTC Properties Stock Performance

Shares of NYSE LTC traded up $0.80 during mid-day trading on Tuesday, hitting $36.74. The company had a trading volume of 132,091 shares, compared to its average volume of 279,438. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29. The business’s 50-day simple moving average is $36.35 and its 200-day simple moving average is $35.13. LTC Properties has a 12 month low of $30.30 and a 12 month high of $38.28. The firm has a market cap of $1.60 billion, a P/E ratio of 19.19 and a beta of 0.91.

LTC Properties Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date is Thursday, November 21st. LTC Properties’s dividend payout ratio (DPR) is 118.75%.

Insider Activity at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the sale, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other LTC Properties news, Director David L. Gruber purchased 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $35.75 per share, with a total value of $214,500.00. Following the completion of the transaction, the director now directly owns 18,412 shares of the company’s stock, valued at approximately $658,229. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LTC shares. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th. Wells Fargo & Company reissued an “equal weight” rating and set a $37.00 target price (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

About LTC Properties

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.