LTC Properties (NYSE:LTC) Posts Earnings Results, Misses Expectations By $0.05 EPS

LTC Properties (NYSE:LTC) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05), Zacks reports. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The firm had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis.

LTC Properties Stock Performance

Shares of LTC Properties stock opened at $38.08 on Wednesday. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $36.35 and a two-hundred day moving average price of $35.13. LTC Properties has a 1-year low of $30.30 and a 1-year high of $38.28. The company has a market cap of $1.66 billion, a P/E ratio of 19.83 and a beta of 0.91.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a yield of 5.99%. LTC Properties’s payout ratio is currently 118.75%.

Insiders Place Their Bets

In related news, Director David L. Gruber acquired 6,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $35.75 per share, with a total value of $214,500.00. Following the transaction, the director now directly owns 18,412 shares of the company’s stock, valued at $658,229. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director David L. Gruber acquired 6,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $35.75 per share, with a total value of $214,500.00. Following the transaction, the director now directly owns 18,412 shares of the company’s stock, valued at $658,229. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy Triche sold 5,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the transaction, the director now directly owns 34,522 shares in the company, valued at $1,258,326.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th. Wells Fargo & Company restated an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.