Zacks: Analysts Anticipate LTC Properties, Inc. (NYSE:LTC) Will Announce Quarterly Sales of $30.36 Million

Wall Street analysts forecast that LTC Properties, Inc. (NYSE:LTC – Get Rating) will announce sales of $30.36 million for the current quarter, Zacks reports. Two analysts have issued estimates for LTC Properties’ earnings, with the highest sales estimate coming in at $31.32 million and the lowest estimate coming in at $29.40 million. LTC Properties reported sales of $29.80 million in the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The company is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that LTC Properties will report full-year sales of $124.92 million for the current fiscal year, with estimates ranging from $119.80 million to $130.04 million. For the next fiscal year, analysts anticipate that the business will post sales of $135.45 million, with estimates ranging from $124.80 million to $146.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for LTC Properties.

LTC Properties (NYSE:LTC – Get Rating) last released its earnings results on Thursday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.26). LTC Properties had a net margin of 36.03% and a return on equity of 7.48%. The firm had revenue of $40.80 million during the quarter, compared to the consensus estimate of $37.08 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The company’s revenue was up 1.2% on a year-over-year basis.

A number of research firms recently weighed in on LTC. Barclays began coverage on LTC Properties in a research note on Tuesday, April 26th. They issued an “underweight” rating and a $30.00 price target on the stock. StockNews.com started coverage on LTC Properties in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Royal Bank of Canada raised LTC Properties from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $34.00 to $37.00 in a report on Monday, March 14th. Credit Suisse Group upped their price objective on 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 raised LTC Properties from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, LTC Properties currently has an average rating of “Hold” and an average price target of $35.60.

A number of institutional investors have recently bought and sold shares of the business. Bridge City Capital LLC raised its position in LTC Properties by 93.7% in the first quarter. Bridge City Capital LLC now owns 32,591 shares of the real estate investment trust’s stock valued at $1,254,000 after purchasing an additional 15,762 shares during the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in LTC Properties in the first quarter valued at about $9,948,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in LTC Properties in the first quarter valued at about $263,000. Royal Bank of Canada raised its position in LTC Properties by 12.4% in the first quarter. Royal Bank of Canada now owns 61,528 shares of the real estate investment trust’s stock valued at $2,366,000 after purchasing an additional 6,784 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of LTC Properties by 2.6% during the first quarter. Guggenheim Capital LLC now owns 40,732 shares of the real estate investment trust’s stock worth $1,567,000 after acquiring an additional 1,020 shares during the last quarter. Hedge funds and other institutional investors own 72.14% of the company’s stock.

Shares of LTC Properties stock traded down $0.01 on Monday, reaching $38.47. 14,728 shares of the company were exchanged, compared to its average volume of 318,018. LTC Properties has a one year low of $31.36 and a one year high of $40.58. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 27.10 and a beta of 0.97. The company has a current ratio of 15.55, a quick ratio of 15.55 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $36.42 and a 200 day moving average of $35.04.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 22nd will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Tuesday, June 21st. LTC Properties’s dividend payout ratio (DPR) is presently 160.56%.

LTC Properties Company Profile (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.

Further Reading