Zacks: Analysts Anticipate LTC Properties, Inc. (NYSE:LTC) Will Post Quarterly Sales of $27.91 Million

Wall Street analysts expect that LTC Properties, Inc. (NYSE:LTCGet Rating) will post $27.91 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for LTC Properties’ earnings, with estimates ranging from $24.50 million to $31.32 million. LTC Properties reported sales of $29.80 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.3%. The business is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that LTC Properties will report full-year sales of $114.52 million for the current year, with estimates ranging from $99.00 million to $130.04 million. For the next financial year, analysts expect that the business will post sales of $124.75 million, with estimates ranging from $103.40 million to $146.10 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for LTC Properties.

LTC Properties (NYSE:LTCGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.26). The business had revenue of $40.80 million during the quarter, compared to the consensus estimate of $37.08 million. LTC Properties had a return on equity of 7.45% and a net margin of 36.03%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share.

A number of research firms recently commented on LTC. StockNews.com began coverage on shares of LTC Properties in a report on Thursday, March 31st. They set a “hold” rating for the company. Royal Bank of Canada upgraded shares of LTC Properties from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $34.00 to $37.00 in a report on Monday, March 14th. Barclays began coverage on shares of LTC Properties in a report on Tuesday, April 26th. They set an “underweight” rating and a $30.00 price target for the company. Credit Suisse Group upped their price target on shares of LTC Properties from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, April 1st. Finally, Zacks Investment Research lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.60.

Shares of LTC opened at $33.00 on Monday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 23.24 and a beta of 0.93. The company has a debt-to-equity ratio of 0.97, a quick ratio of 11.94 and a current ratio of 11.94. LTC Properties has a fifty-two week low of $31.36 and a fifty-two week high of $42.94. The firm has a 50 day moving average price of $36.01 and a 200-day moving average price of $34.75.

The firm also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 22nd will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Tuesday, June 21st. LTC Properties’s dividend payout ratio is presently 160.56%.

Large investors have recently added to or reduced their stakes in the company. Duality Advisers LP grew its position in shares of LTC Properties by 12.8% in the 3rd quarter. Duality Advisers LP now owns 31,677 shares of the real estate investment trust’s stock worth $1,004,000 after buying an additional 3,599 shares during the period. Tudor Investment Corp Et Al boosted its stake in LTC Properties by 55.0% in the 3rd quarter. Tudor Investment Corp Et Al now owns 77,776 shares of the real estate investment trust’s stock worth $2,465,000 after purchasing an additional 27,610 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in LTC Properties by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,870 shares of the real estate investment trust’s stock worth $1,088,000 after purchasing an additional 400 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in LTC Properties by 7.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 82,028 shares of the real estate investment trust’s stock worth $2,800,000 after purchasing an additional 5,381 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in LTC Properties by 89.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 14,300 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 6,770 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

About LTC Properties (Get Rating)

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 181 investments in 27 states with 29 operating partners.

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Earnings History and Estimates for LTC Properties (NYSE:LTC)

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