Brokerages expect LTC Properties Inc (NYSE:LTC) to announce sales of $34.30 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for LTC Properties’ earnings. The highest sales estimate is $34.38 million and the lowest is $34.21 million. LTC Properties reported sales of $41.73 million in the same quarter last year, which indicates a negative year over year growth rate of 17.8%. The firm is expected to issue its next 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 forecast that the company will report sales of $137.44 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow LTC Properties.
LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates 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.
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a “sell” rating and issued a $40.00 target price on shares of LTC Properties in a research note on Tuesday, November 20th. Zacks Investment Research upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th. ValuEngine upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Stifel Nicolaus set a $43.00 price objective on shares of LTC Properties and gave the stock a “hold” rating in a report on Thursday, August 9th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $46.00 target price (up from $45.00) on shares of LTC Properties in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. LTC Properties presently has an average rating of “Hold” and an average target price of $42.83.
A number of institutional investors have recently added to or reduced their stakes in LTC. Stratos Wealth Partners LTD. bought a new position in shares of LTC Properties during the 3rd quarter valued at approximately $106,000. Advisory Services Network LLC increased its stake in shares of LTC Properties by 11,804.8% during 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 buying an additional 2,479 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of LTC Properties during the second quarter valued at $191,000. Sawtooth Solutions LLC purchased a new position in shares of LTC Properties during the third quarter valued at $201,000. Finally, Pitcairn Co. purchased a new position in LTC Properties in the second quarter valued at about $205,000. 75.56% of the stock is owned by institutional investors.
NYSE LTC opened at $46.44 on Monday. The stock has a market cap of $1.84 billion, a P/E ratio of 14.98, a P/E/G ratio of 3.84 and a beta of 0.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 8.91 and a quick ratio of 8.91. LTC Properties has a 52-week low of $34.46 and a 52-week high of $47.39.
The firm also recently disclosed a dividend, which was paid on Friday, November 30th. Stockholders of record on Wednesday, November 21st were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, November 20th. LTC Properties’s dividend payout ratio (DPR) is presently 73.55%.
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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