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

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

LTC Properties Trading Up 2.4 %

Shares of NYSE:LTC traded up $0.91 during mid-day trading on Wednesday, hitting $38.99. The company had a trading volume of 419,425 shares, compared to its average volume of 282,121. The firm has a fifty day moving average price of $36.39 and a 200 day moving average price of $35.18. The company has a market capitalization of $1.70 billion, a PE ratio of 20.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29. LTC Properties has a one year low of $30.30 and a one year high of $39.26.

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. The ex-dividend date is Thursday, November 21st. This represents a $2.28 annualized dividend and a yield of 5.85%. LTC Properties’s payout ratio is 118.75%.

Analyst Upgrades and Downgrades

LTC has been the subject of a number of research reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th.

Insider Activity

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

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.