Zacks: Brokerages Anticipate LTC Properties Inc (NYSE:LTC) to Post $0.76 Earnings Per Share

Analysts predict that LTC Properties Inc (NYSE:LTC) will announce $0.76 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for LTC Properties’ earnings. The lowest EPS estimate is $0.75 and the highest is $0.79. LTC Properties posted earnings of $0.75 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.3%. The firm is expected to report its next earnings results on Monday, November 4th.

On average, analysts expect that LTC Properties will report full-year earnings of $3.03 per share for the current year, with EPS estimates ranging from $2.99 to $3.11. For the next fiscal year, analysts expect that the business will report earnings of $3.11 per share, with EPS estimates ranging from $3.02 to $3.20. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover LTC Properties.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.25). LTC Properties had a net margin of 63.58% and a return on equity of 13.07%. The company had revenue of $38.28 million for the quarter, compared to analysts’ expectations of $30.54 million.

Several research firms recently weighed in on LTC. Zacks Investment Research lowered LTC Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Credit Suisse Group began coverage on LTC Properties in a report on Wednesday, July 10th. They set an “underperform” rating and a $19.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company currently has an average rating of “Sell” and an average price target of $38.00.

In other LTC Properties news, Director Timothy Triche sold 2,800 shares of the stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $46.15, for a total value of $129,220.00. Following the sale, the director now owns 36,362 shares in the company, valued at $1,678,106.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Massey Quick Simon & CO. LLC purchased a new stake in LTC Properties in the first quarter worth $34,000. Steward Partners Investment Advisory LLC purchased a new stake in LTC Properties in the second quarter worth $44,000. Quantamental Technologies LLC increased its stake in LTC Properties by 46.0% in the first quarter. Quantamental Technologies LLC now owns 996 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 314 shares during the period. Quadrant Capital Group LLC increased its stake in LTC Properties by 833.9% in the first quarter. Quadrant Capital Group LLC now owns 1,130 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,009 shares during the period. Finally, Squar Milner Financial Services LLC purchased a new stake in LTC Properties in the first quarter worth $65,000. Institutional investors and hedge funds own 75.80% of the company’s stock.

NYSE:LTC traded up $0.60 during midday trading on Friday, hitting $48.66. 35,582 shares of the company traded hands, compared to its average volume of 168,839. The firm has a fifty day moving average price of $46.57. LTC Properties has a 12-month low of $40.11 and a 12-month high of $48.40. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 3.99 and a beta of 0.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.41 and a quick ratio of 10.41.

The business also recently declared a dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 21st. LTC Properties’s payout ratio is presently 74.51%.

LTC Properties Company Profile

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

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