LTC Properties Inc (NYSE:LTC) – Research analysts at Mitsubishi UFJ Financial Group lowered their Q3 2019 earnings per share (EPS) estimates for shares of LTC Properties in a note issued to investors on Tuesday, May 14th. Mitsubishi UFJ Financial Group analyst K. Ford now expects that the real estate investment trust will earn $0.76 per share for the quarter, down from their previous forecast of $0.77. Mitsubishi UFJ Financial Group also issued estimates for LTC Properties’ Q4 2019 earnings at $0.75 EPS and FY2019 earnings at $3.02 EPS.
A number of other brokerages have also commented on LTC. ValuEngine raised LTC Properties from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Zacks Investment Research raised LTC Properties from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.40.
LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.23). The company had revenue of $28.02 million for the quarter, compared to analyst estimates of $33.02 million. LTC Properties had a net margin of 95.25% and a return on equity of 19.07%.
The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Wednesday, June 19th. LTC Properties’s dividend payout ratio is 74.51%.
Several hedge funds and other institutional investors have recently modified their holdings of LTC. We Are One Seven LLC bought a new stake in LTC Properties during the 4th quarter valued at approximately $27,000. Quantamental Technologies LLC bought a new stake in LTC Properties during the 4th quarter valued at approximately $28,000. Massey Quick Simon & CO. LLC bought a new stake in LTC Properties during the 1st quarter valued at approximately $34,000. Macroview Investment Management LLC bought a new stake in LTC Properties during the 4th quarter valued at approximately $33,000. Finally, Quadrant Capital Group LLC boosted its stake in LTC Properties by 833.9% during the 1st quarter. Quadrant Capital Group LLC now owns 1,130 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,009 shares during the period. 76.39% of the stock is currently owned by institutional investors and hedge funds.
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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