Wall Street analysts expect LTC Properties Inc (NYSE:LTC) to post $34.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for LTC Properties’ earnings. The highest sales estimate is $34.27 million and the lowest is $34.23 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 17.9%. The company is scheduled to announce its next quarterly earnings results on Thursday, March 7th.
On average, analysts expect that LTC Properties will report full year sales of $136.80 million for the current financial year, with estimates ranging from $136.80 million to $136.81 million. For the next fiscal year, analysts forecast that the company will post sales of $138.07 million, with estimates ranging from $138.03 million to $138.12 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover LTC Properties.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.88 EPS for the quarter, topping the consensus estimate of $0.75 by $0.13. The business had revenue of $34.21 million during the quarter, compared to analyst estimates of $34.12 million. LTC Properties had a return on equity of 18.31% and a net margin of 86.31%.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded LTC Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. ValuEngine upgraded LTC Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Stifel Nicolaus set a $43.00 price target on LTC Properties and gave the company a “hold” rating in a research note on Thursday, August 9th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $46.00 price target (up from $45.00) on shares of LTC Properties in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. LTC Properties has an average rating of “Hold” and a consensus price target of $42.50.
A number of institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its position in shares of LTC Properties by 14.1% during the second quarter. Commonwealth Equity Services LLC now owns 10,090 shares of the real estate investment trust’s stock worth $431,000 after purchasing an additional 1,249 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in shares of LTC Properties by 14.2% during the third quarter. Xact Kapitalforvaltning AB now owns 10,430 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 1,300 shares in the last quarter. Securian Asset Management Inc increased its position in shares of LTC Properties by 7.5% during the second quarter. Securian Asset Management Inc now owns 20,004 shares of the real estate investment trust’s stock worth $855,000 after purchasing an additional 1,400 shares in the last quarter. US Bancorp DE increased its position in shares of LTC Properties by 7.2% during the second quarter. US Bancorp DE now owns 22,995 shares of the real estate investment trust’s stock worth $984,000 after purchasing an additional 1,537 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of LTC Properties by 11.2% during the second quarter. Macquarie Group Ltd. now owns 17,875 shares of the real estate investment trust’s stock worth $764,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 75.64% of the company’s stock.
NYSE:LTC opened at $45.61 on Friday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 14.71, a P/E/G ratio of 3.78 and a beta of 0.10. LTC Properties has a 12-month low of $34.46 and a 12-month high of $49.59. The company has a quick ratio of 8.26, a current ratio of 8.91 and a debt-to-equity ratio of 0.81.
The firm also recently declared a dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. LTC Properties’s dividend payout ratio is presently 73.55%.
LTC Properties Company Profile
LTC Properties (NYSE: 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 preferred equity and mezzanine lending. At June 30, 2018, LTC had 199 investments located in 28 states comprising 102 assisted living communities, 96 skilled nursing centers and one behavioral health care hospital.
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