LTC Properties (NYSE:LTC – Get Rating) released its quarterly results on Thursday. The real estate investment trust reported earnings per share (EPS) of $0.36 for the quarter, missing Zacks’ consensus estimate of $0.62 per ($0.26), MarketWatch Earnings reports. The company posted revenue of $40.80 million for the quarter, versus analyst estimates of $37.08 million. LTC Properties had a return on equity of 7.34% and a net margin of 35.74%. The company’s quarterly revenue increased by 1.2% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.62.
Shares of NYSE LTC traded down $0.77 during Friday’s midday session, hitting $33.00. 437,445 shares of the stock have traded, compared to its average volume of 312,004. The company has a leverage ratio of 0.97, a current ratio of 11.94 and a quick ratio of 11.94. LTC Properties has a 12-month low of $31.36 and a 12-month high of $42.94. The company has a market capitalization of $1.30 billion, a PE ratio of 23.40 and a beta of 0.93. The company has a 50-day simple moving average of $36.03 and a two-hundred-day simple moving average of $34.73.
The company also recently announced a monthly dividend, which will be paid on Thursday, June 30. Investors of record on Wednesday, June 22 will receive a dividend of $0.19 per share. This represents an annualized dividend of $2.28 and a dividend yield of 6.91%. The ex-dividend date is Tuesday, June 21. LTC Properties’ dividend payout ratio (DPR) is 161.70%.
Several hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings of LTC Properties shares by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 54,297 shares of the real estate investment trust valued at $1,854,000 after acquiring 1,193 additional shares in the last quarter. Legal & General Group Plc increased its equity stake in LTC Properties by 0.9% during the 4th quarter. Legal & General Group Plc now owns 327,768 shares of the real estate investment trust worth $11,190,000 after acquiring 2,845 additional shares in the last quarter. Barclays PLC increased its holdings of LTC Properties shares by 4.4% during the 4th quarter. Barclays PLC now owns 67,952 shares of the real estate investment trust valued at $2,321,000 after acquiring 2,855 additional shares last quarter. Penserra Capital Management LLC increased its holdings of LTC Properties shares by 176.3% during the 4th quarter. Penserra Capital Management LLC now owns 6,753 shares of the real estate investment trust worth $230,000 after acquiring 4,309 additional shares last quarter. Finally, DE Shaw & Co. Inc. acquired a new stake in the shares of LTC Properties during the 4th quarter at a value of $204,000. 71.78% of the shares are currently held by institutional investors.
A number of equity research analysts have recently released reports on the company. Credit Suisse Group raised its price target on LTC Properties from $35.00 to $38.00 and gave the stock a “neutral” rating in a Friday, April 1 research report. Royal Bank of Canada upgraded LTC Properties from an “underperforming” rating to an “sector performing” rating and raised its price target for the stock from $34.00 to $37.00 in a research report from Monday, March 14. Barclays assumed a hedge on LTC Properties in a research report on Tuesday. They set an “underweight” rating and a price target of $30.00 on the stock. Zacks Investment Research downgraded LTC Properties from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, StockNews.com launched coverage on LTC Properties in a Thursday, March 31 report. They issued a “hold” rating on the stock. Three equity research analysts gave the stock a sell rating and three gave the company a hold rating. According to MarketBeat.com, LTC Properties has an average rating of “Hold” and a consensus target price of $35.60.
LTC Properties Company Profile (Get a rating)
LTC is a real estate investment trust (REIT) that invests in seniors housing and healthcare facilities primarily through sale-leasebacks, mortgage financings, joint ventures and structured finance solutions, including preferred shares and mezzanine loans. LTC holds 181 investments in 27 states with 29 operating partners.
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