Cantor Fitzgerald Analysts Reduce Earnings Estimates for LTC Properties, Inc. (LTC)

LTC Properties, Inc. (NYSE:LTC) – Research analysts at Cantor Fitzgerald lowered their FY2018 EPS estimates for LTC Properties in a research report issued to clients and investors on Tuesday, May 22nd. Cantor Fitzgerald analyst J. France now forecasts that the real estate investment trust will post earnings per share of $2.99 for the year, down from their previous estimate of $3.00. Cantor Fitzgerald has a “Overweight” rating on the stock. Cantor Fitzgerald also issued estimates for LTC Properties’ FY2019 earnings at $3.10 EPS.

LTC has been the topic of several other reports. Royal Bank of Canada set a $43.00 price target on shares of LTC Properties and gave the company a “hold” rating in a research note on Tuesday, March 6th. Zacks Investment Research upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. TheStreet lowered shares of LTC Properties from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th. ValuEngine lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, BMO Capital Markets set a $39.00 price target on shares of LTC Properties and gave the company a “sell” rating in a research note on Monday, March 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. LTC Properties has an average rating of “Hold” and a consensus price target of $43.57.

Shares of LTC stock opened at $39.40 on Wednesday. The company has a current ratio of 9.69, a quick ratio of 9.69 and a debt-to-equity ratio of 0.91. LTC Properties has a 1 year low of $34.46 and a 1 year high of $52.85. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 3.27 and a beta of 0.10.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, May 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). LTC Properties had a net margin of 51.43% and a return on equity of 11.36%. The business had revenue of $41.81 million during the quarter, compared to analyst estimates of $34.17 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in LTC. Schwab Charles Investment Management Inc. grew its position in shares of LTC Properties by 5.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 419,346 shares of the real estate investment trust’s stock valued at $18,263,000 after acquiring an additional 22,473 shares during the period. Strs Ohio grew its position in shares of LTC Properties by 2.8% in the 4th quarter. Strs Ohio now owns 62,436 shares of the real estate investment trust’s stock valued at $2,719,000 after acquiring an additional 1,698 shares during the period. SG Americas Securities LLC grew its position in shares of LTC Properties by 39.8% in the 4th quarter. SG Americas Securities LLC now owns 8,819 shares of the real estate investment trust’s stock valued at $384,000 after acquiring an additional 2,511 shares during the period. RMR Advisors LLC grew its position in shares of LTC Properties by 53.4% in the 4th quarter. RMR Advisors LLC now owns 75,021 shares of the real estate investment trust’s stock valued at $3,267,000 after acquiring an additional 26,124 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of LTC Properties by 14.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,214,154 shares of the real estate investment trust’s stock valued at $52,876,000 after acquiring an additional 152,673 shares during the period. 79.42% of the stock is owned by institutional investors.

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, June 21st will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date is Wednesday, June 20th. LTC Properties’s dividend payout ratio (DPR) is presently 73.55%.

About LTC Properties

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 mezzanine lending. At December 31, 2017, LTC had 202 investments located in 29 states comprising 105 assisted living communities, 96 skilled nursing centers and 1 behavioral health care hospital.

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

Receive News & Ratings for LTC Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LTC Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply