LTC Properties (NYSE:LTC) Releases Quarterly Earnings Results

LTC Properties (NYSE:LTC) released its quarterly earnings results on Monday. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.22), Zacks reports. LTC Properties had a return on equity of 9.09% and a net margin of 40.60%. The firm had revenue of $50.12 million for the quarter, compared to analyst estimates of $33.47 million. During the same period in the prior year, the business earned $0.66 earnings per share. LTC Properties’s revenue for the quarter was up 3.9% on a year-over-year basis.

LTC Properties Trading Down 4.4 %

Shares of LTC traded down $1.66 during mid-day trading on Tuesday, hitting $36.13. The company had a trading volume of 115,341 shares, compared to its average volume of 276,711. The business’s 50-day simple moving average is $34.77 and its 200-day simple moving average is $33.10. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 0.94. LTC Properties has a 1-year low of $30.30 and a 1-year high of $38.28. The stock has a market cap of $1.57 billion, a PE ratio of 19.01 and a beta of 0.89.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.28 annualized dividend and a dividend yield of 6.31%. LTC Properties’s dividend payout ratio is presently 118.75%.

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