Zacks: Brokerages Expect LTC Properties Inc (LTC) to Post $0.76 EPS

Brokerages expect that LTC Properties Inc (NYSE:LTC) will report earnings of $0.76 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for LTC Properties’ earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.75. LTC Properties posted earnings per share of $0.75 in the same quarter last year, which suggests a positive year-over-year growth rate of 1.3%. The company is scheduled to report its next earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that LTC Properties will report full year earnings of $3.02 per share for the current year, with EPS estimates ranging from $3.00 to $3.05. For the next year, analysts expect that the firm will report earnings of $3.13 per share, with EPS estimates ranging from $3.08 to $3.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for LTC Properties.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Thursday, May 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.23). The business had revenue of $28.02 million for the quarter, compared to analyst estimates of $33.02 million. LTC Properties had a return on equity of 18.88% and a net margin of 95.25%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised LTC Properties from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, February 13th. ValuEngine raised LTC Properties from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. LTC Properties currently has an average rating of “Hold” and a consensus target price of $44.40.

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of LTC Properties by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 731,590 shares of the real estate investment trust’s stock valued at $32,270,000 after acquiring an additional 12,131 shares during the period. Morgan Stanley increased its position in shares of LTC Properties by 47.4% in the 3rd quarter. Morgan Stanley now owns 236,756 shares of the real estate investment trust’s stock valued at $10,443,000 after acquiring an additional 76,114 shares during the period. Vanguard Group Inc. increased its position in shares of LTC Properties by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,020,241 shares of the real estate investment trust’s stock valued at $265,552,000 after acquiring an additional 20,739 shares during the period. Teachers Advisors LLC increased its position in shares of LTC Properties by 1.0% in the 3rd quarter. Teachers Advisors LLC now owns 89,424 shares of the real estate investment trust’s stock valued at $3,944,000 after acquiring an additional 844 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of LTC Properties by 1.7% in the 4th quarter. State of Alaska Department of Revenue now owns 26,080 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 435 shares during the period. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of LTC stock opened at $45.56 on Friday. The firm has a market cap of $1.81 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.97 and a current ratio of 9.97. LTC Properties has a 12-month low of $38.62 and a 12-month high of $48.13.

The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Wednesday, June 19th. LTC Properties’s payout ratio is presently 74.51%.

About LTC Properties

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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