LTC Properties Inc (NYSE:LTC) – KeyCorp upped their FY2019 earnings per share estimates for shares of LTC Properties in a research note issued to investors on Tuesday, June 11th. KeyCorp analyst J. Sadler now expects that the real estate investment trust will earn $3.07 per share for the year, up from their prior estimate of $3.01.
LTC Properties (NYSE:LTC) last posted its earnings results on Thursday, May 9th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.23). The company had revenue of $28.02 million for the quarter, compared to analyst estimates of $33.02 million. LTC Properties had a return on equity of 19.07% and a net margin of 95.25%.
Several other analysts have also commented on the company. Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine lowered LTC Properties from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.40.
LTC Properties stock opened at $45.71 on Friday. The stock has a market cap of $1.81 billion, a P/E ratio of 14.85, a P/E/G ratio of 3.77 and a beta of 0.45. LTC Properties has a 52 week low of $40.11 and a 52 week high of $48.13. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.86.
A number of institutional investors have recently bought and sold shares of LTC. Norges Bank acquired a new stake in LTC Properties during the fourth quarter worth about $21,421,000. Northern Trust Corp grew its holdings in LTC Properties by 31.5% in the fourth quarter. Northern Trust Corp now owns 936,253 shares of the real estate investment trust’s stock valued at $39,024,000 after purchasing an additional 224,162 shares during the period. Nuveen Asset Management LLC acquired a new stake in LTC Properties in the fourth quarter valued at approximately $5,678,000. Deutsche Bank AG grew its holdings in LTC Properties by 111.5% in the fourth quarter. Deutsche Bank AG now owns 176,776 shares of the real estate investment trust’s stock valued at $7,366,000 after purchasing an additional 93,195 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in LTC Properties by 1,596.9% in the first quarter. PNC Financial Services Group Inc. now owns 91,393 shares of the real estate investment trust’s stock valued at $4,186,000 after purchasing an additional 86,007 shares during the period. 76.00% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Wednesday, June 19th. LTC Properties’s dividend payout ratio (DPR) is 74.51%.
About LTC Properties
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners.
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