LTC Properties (NYSE:LTC) Announces Quarterly Earnings Results

LTC Properties (NYSE:LTC) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $55.78 million during the quarter, compared to the consensus estimate of $35.45 million. During the same period in the previous year, the firm posted $0.65 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year.

LTC Properties Stock Performance

Shares of LTC stock traded up $0.75 during midday trading on Tuesday, hitting $36.69. 61,135 shares of the company were exchanged, compared to its average volume of 279,099. LTC Properties has a 52 week low of $30.30 and a 52 week high of $38.28. The firm has a market capitalization of $1.60 billion, a P/E ratio of 19.01 and a beta of 0.91. The firm’s 50 day moving average price is $36.34 and its two-hundred day moving average price is $35.10. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.29 and a current ratio of 11.29.

LTC Properties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.21%. The ex-dividend date is Thursday, November 21st. LTC Properties’s payout ratio is presently 118.75%.

Insider Transactions at LTC Properties

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

Analysts Set New Price Targets

Several research firms recently commented on LTC. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research 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.