Analysts expect that LTC Properties Inc (NYSE:LTC) will announce sales of $34.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for LTC Properties’ earnings, with the lowest sales estimate coming in at $34.21 million and the highest estimate coming in at $34.38 million. LTC Properties reported sales of $41.73 million during the same quarter last year, which indicates a negative year-over-year growth rate of 17.8%. The business is expected to report its next quarterly earnings report on Thursday, March 7th.
On average, analysts expect that LTC Properties will report full year sales of $136.95 million for the current financial year, with estimates ranging from $136.86 million to $137.03 million. For the next year, analysts expect that the business will report sales of $137.44 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for LTC Properties.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.13. LTC Properties had a net margin of 86.31% and a return on equity of 18.31%. The firm had revenue of $34.21 million for the quarter, compared to analyst estimates of $34.12 million.
LTC has been the topic of several research analyst reports. Stifel Nicolaus set a $43.00 price target on shares of LTC Properties and gave the stock a “hold” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Royal Bank of Canada restated a “sell” rating and issued a $40.00 price objective on shares of LTC Properties in a research note on Tuesday, November 20th. Cantor Fitzgerald restated a “buy” rating and issued a $46.00 price objective (up from $45.00) on shares of LTC Properties in a research note on Thursday, August 9th. Finally, ValuEngine upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $43.00.
NYSE:LTC traded down $1.63 during midday trading on Monday, hitting $44.00. 842,389 shares of the company were exchanged, compared to its average volume of 238,382. LTC Properties has a fifty-two week low of $34.46 and a fifty-two week high of $47.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 8.91 and a quick ratio of 8.91. The firm has a market capitalization of $1.81 billion, a P/E ratio of 14.19, a P/E/G ratio of 3.77 and a beta of 0.13.
The firm also recently disclosed a dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 21st will be paid a $0.19 dividend. The ex-dividend date is Thursday, December 20th. LTC Properties’s dividend payout ratio is presently 73.55%.
A number of hedge funds and other institutional investors have recently bought and sold shares of LTC. Stratos Wealth Partners LTD. acquired a new position in LTC Properties in the third quarter valued at $106,000. Advisory Services Network LLC increased its stake in LTC Properties by 11,804.8% in the third quarter. Advisory Services Network LLC now owns 2,500 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 2,479 shares during the period. Itau Unibanco Holding S.A. acquired a new position in LTC Properties in the second quarter valued at $191,000. Sawtooth Solutions LLC acquired a new position in LTC Properties in the third quarter valued at $201,000. Finally, Pitcairn Co. acquired a new position in LTC Properties in the second quarter valued at $205,000. Institutional investors own 75.29% of the company’s stock.
LTC Properties Company Profile
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At September 30, 2018, LTC had 199 investments located in 28 states, comprising 103 assisted living communities, 95 skilled nursing centers and 1 behavioral health care hospital.
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