LTC Properties Inc (NYSE:LTC) – Investment analysts at KeyCorp issued their FY2017 earnings per share estimates for LTC Properties in a note issued to investors on Thursday, according to Zacks Investment Research. KeyCorp analyst J. Sadler anticipates that the real estate investment trust will post earnings per share of $3.07 for the year. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for LTC Properties’ Q4 2017 earnings at $0.74 EPS and FY2018 earnings at $3.06 EPS.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.26. The company had revenue of $41.25 million during the quarter, compared to analysts’ expectations of $32.91 million. LTC Properties had a return on equity of 11.69% and a net margin of 52.18%. During the same quarter in the previous year, the firm earned $0.57 EPS.
Several other equities research analysts have also commented on LTC. Zacks Investment Research lowered LTC Properties from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. ValuEngine lowered LTC Properties from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Royal Bank of Canada restated a “hold” rating and set a $48.00 target price on shares of LTC Properties in a research report on Monday, October 23rd. BMO Capital Markets reaffirmed a “sell” rating and set a $44.00 price target on shares of LTC Properties in a research note on Wednesday, October 18th. Finally, Capital One Financial initiated coverage on LTC Properties in a research note on Monday, September 25th. They set an “overweight” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.71.
Shares of LTC Properties (LTC) opened at $41.04 on Monday. LTC Properties has a 52-week low of $40.29 and a 52-week high of $52.85. The firm has a market capitalization of $1,623.98, a price-to-earnings ratio of 18.40, a P/E/G ratio of 3.28 and a beta of 0.17. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.84.
Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in LTC Properties by 12.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 231 shares during the period. Quantbot Technologies LP bought a new position in LTC Properties during the third quarter valued at $139,000. Riverhead Capital Management LLC grew its holdings in LTC Properties by 91.5% during the second quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 1,464 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of LTC Properties by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 200 shares during the period. Finally, Shelton Capital Management bought a new position in shares of LTC Properties in the second quarter worth $202,000. 77.50% of the stock is owned by institutional investors and hedge funds.
In other news, Director James Pieczynski acquired 2,000 shares of LTC Properties stock in a transaction on Wednesday, January 3rd. The stock was acquired at an average cost of $43.60 per share, with a total value of $87,200.00. Following the completion of the acquisition, the director now owns 17,974 shares in the company, valued at $783,666.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Boyd W. Hendrickson sold 1,500 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $47.07, for a total value of $70,605.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,727 shares of company stock valued at $436,470. 1.50% of the stock is currently owned by corporate insiders.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 5.56%. The ex-dividend date is Friday, February 16th. LTC Properties’s dividend payout ratio is presently 102.24%.
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About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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