Wall Street brokerages predict that LTC Properties Inc (NYSE:LTC) will report $34.12 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for LTC Properties’ earnings. The highest sales estimate is $34.13 million and the lowest is $34.10 million. LTC Properties posted sales of $41.25 million during the same quarter last year, which suggests a negative year-over-year growth rate of 17.3%. The firm is scheduled to issue its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that LTC Properties will report full-year sales of $136.80 million for the current year, with estimates ranging from $136.80 million to $136.81 million. For the next year, analysts expect that the company will post sales of $138.07 million per share, with estimates ranging from $138.03 million to $138.12 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover LTC Properties.
LTC Properties (NYSE:LTC) last released its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.98. LTC Properties had a net margin of 77.94% and a return on equity of 16.84%. The company had revenue of $33.93 million during the quarter, compared to analysts’ expectations of $34.55 million.
LTC traded down $0.28 on Wednesday, reaching $45.32. The stock had a trading volume of 128,430 shares, compared to its average volume of 137,671. LTC Properties has a 12-month low of $34.46 and a 12-month high of $49.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 8.26 and a current ratio of 8.26. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 3.75 and a beta of 0.10.
The business also recently announced a monthly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 20th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, September 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.03%. LTC Properties’s dividend payout ratio is currently 73.55%.
Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in shares of LTC Properties during the second quarter worth about $206,000. IndexIQ Advisors LLC acquired a new position in LTC Properties during the second quarter worth about $1,515,000. Thrivent Financial for Lutherans boosted its position in LTC Properties by 31.4% during the first quarter. Thrivent Financial for Lutherans now owns 41,291 shares of the real estate investment trust’s stock worth $1,569,000 after acquiring an additional 9,865 shares during the last quarter. Albert D Mason Inc. boosted its position in LTC Properties by 95.1% during the second quarter. Albert D Mason Inc. now owns 33,135 shares of the real estate investment trust’s stock worth $1,416,000 after acquiring an additional 16,155 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in LTC Properties by 21.5% during the first quarter. Wells Fargo & Company MN now owns 171,196 shares of the real estate investment trust’s stock worth $6,505,000 after acquiring an additional 30,272 shares during the last quarter. 75.86% of the stock is owned by institutional investors and hedge funds.
About LTC Properties
LTC Properties (NYSE: 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 preferred equity and mezzanine lending. At June 30, 2018, LTC had 199 investments located in 28 states comprising 102 assisted living communities, 96 skilled nursing centers and one behavioral health care hospital.
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