LTC Properties, Inc. (LTC) Forecasted to Post FY2017 Earnings of $3.14 Per Share
LTC Properties, Inc. (NYSE:LTC) – Research analysts at KeyCorp issued their FY2017 earnings per share estimates for LTC Properties in a note issued to investors on Monday. KeyCorp analyst J. Sadler expects that the real estate investment trust will earn $3.14 per share for the year.
LTC has been the topic of several other reports. Hilliard Lyons raised LTC Properties from an “underperform” rating to a “neutral” rating in a research note on Wednesday, May 10th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $50.00 price objective on shares of LTC Properties in a research note on Tuesday, May 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $50.00 price objective (down from $51.00) on shares of LTC Properties in a research note on Tuesday, May 9th. BMO Capital Markets reaffirmed a “hold” rating and issued a $50.00 price objective on shares of LTC Properties in a research note on Tuesday, May 9th. Finally, Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a research note on Thursday, April 6th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.50.
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Shares of LTC Properties (LTC) opened at 51.67 on Thursday. LTC Properties has a 1-year low of $43.17 and a 1-year high of $54.20. The company’s 50 day moving average is $50.63 and its 200-day moving average is $48.23. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 23.31 and a beta of 0.12.
LTC Properties (NYSE:LTC) last released its earnings results on Monday, May 8th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.24. LTC Properties had a return on equity of 11.66% and a net margin of 52.17%. The firm had revenue of $42.62 million for the quarter, compared to analysts’ expectations of $34.82 million.
Large investors have recently made changes to their positions in the stock. Waterfront Capital Partners LLC bought a new stake in shares of LTC Properties during the first quarter valued at approximately $757,000. Victory Capital Management Inc. increased its stake in shares of LTC Properties by 31.9% in the first quarter. Victory Capital Management Inc. now owns 988,880 shares of the real estate investment trust’s stock valued at $47,367,000 after buying an additional 239,198 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of LTC Properties by 180.0% in the first quarter. ProShare Advisors LLC now owns 19,396 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 12,470 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of LTC Properties by 1.6% in the first quarter. Nisa Investment Advisors LLC now owns 86,650 shares of the real estate investment trust’s stock valued at $4,151,000 after buying an additional 1,400 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of LTC Properties by 7.3% in the first quarter. Parametric Portfolio Associates LLC now owns 67,776 shares of the real estate investment trust’s stock valued at $3,246,000 after buying an additional 4,616 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.
The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, August 21st. This represents a $2.28 annualized dividend and a dividend yield of 4.41%. LTC Properties’s payout ratio is currently 102.70%.
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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