LTC Properties Inc (NYSE:LTC) – Equities research analysts at Cantor Fitzgerald dropped their FY2018 earnings per share estimates for LTC Properties in a research note issued on Tuesday, May 22nd, according to Zacks Investment Research. 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 forecast of $3.00. Cantor Fitzgerald currently has a “Overweight” rating on the stock. Cantor Fitzgerald also issued estimates for LTC Properties’ FY2019 earnings at $3.10 EPS.
A number of other analysts have also commented on the company. Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. TheStreet lowered LTC Properties from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th. BMO Capital Markets set a $39.00 price target on LTC Properties and gave the stock a “sell” rating in a research note on Monday, March 26th. Stifel Nicolaus set a $40.00 price target on LTC Properties and gave the stock a “hold” rating in a research note on Thursday, March 1st. Finally, Royal Bank of Canada set a $43.00 price target on LTC Properties and gave the stock a “hold” rating in a research note on Tuesday, March 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.86.
Shares of NYSE:LTC traded up $0.80 during trading on Wednesday, reaching $42.42. 134,200 shares of the company traded hands, compared to its average volume of 284,436. The firm has a market cap of $1.65 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 3.46 and a beta of 0.16. LTC Properties has a 52-week low of $34.46 and a 52-week high of $52.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 9.69 and a current ratio of 9.69.
LTC Properties (NYSE:LTC) last released its quarterly earnings data on Wednesday, May 9th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $41.81 million for the quarter, compared to analysts’ expectations of $34.17 million. LTC Properties had a net margin of 51.43% and a return on equity of 11.36%. During the same period last year, the company posted $0.54 EPS.
The business also recently declared a monthly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, June 21st will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, June 20th. This represents a $2.28 annualized dividend and a dividend yield of 5.37%. LTC Properties’s payout ratio is presently 73.55%.
Several large investors have recently modified their holdings of LTC. Victory Capital Management Inc. increased its holdings in shares of LTC Properties by 29.0% during the first quarter. Victory Capital Management Inc. now owns 1,566,749 shares of the real estate investment trust’s stock valued at $59,537,000 after acquiring an additional 352,595 shares in the last quarter. BlackRock Inc. increased its holdings in shares of LTC Properties by 2.0% during the first quarter. BlackRock Inc. now owns 6,170,046 shares of the real estate investment trust’s stock valued at $234,461,000 after acquiring an additional 120,592 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of LTC Properties by 222.4% during the fourth quarter. Deutsche Bank AG now owns 166,802 shares of the real estate investment trust’s stock valued at $7,260,000 after acquiring an additional 115,064 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of LTC Properties by 230.3% during the fourth quarter. Two Sigma Investments LP now owns 164,610 shares of the real estate investment trust’s stock valued at $7,169,000 after acquiring an additional 114,774 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of LTC Properties by 1,381.5% during the fourth quarter. Renaissance Technologies LLC now owns 120,000 shares of the real estate investment trust’s stock valued at $5,226,000 after acquiring an additional 111,900 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.