LTC Properties Inc (NYSE:LTC) – Investment analysts at Cantor Fitzgerald boosted their FY2018 earnings estimates for LTC Properties in a research note issued on Monday, August 13th. Cantor Fitzgerald analyst J. France now forecasts that the real estate investment trust will post earnings per share of $3.02 for the year, up from their prior estimate of $2.99. Cantor Fitzgerald has a “Buy” rating and a $46.00 price objective on the stock.
LTC Properties (NYSE:LTC) last released its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $1.73 EPS for the quarter, topping the consensus estimate of $0.75 by $0.98. The company had revenue of $33.93 million for the quarter, compared to the consensus estimate of $34.55 million. LTC Properties had a return on equity of 16.84% and a net margin of 77.94%.
LTC opened at $44.82 on Wednesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 3.58 and a beta of 0.13. LTC Properties has a 52 week low of $34.46 and a 52 week high of $49.59. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 0.81.
The business also recently announced a monthly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 20th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, September 19th. This represents a $2.28 annualized dividend and a yield of 5.09%. LTC Properties’s dividend payout ratio (DPR) is presently 73.55%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in LTC Properties by 6.8% during the 2nd quarter. BlackRock Inc. now owns 6,590,717 shares of the real estate investment trust’s stock valued at $281,688,000 after acquiring an additional 420,671 shares in the last quarter. Victory Capital Management Inc. boosted its position in LTC Properties by 3.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,622,530 shares of the real estate investment trust’s stock valued at $69,347,000 after acquiring an additional 55,781 shares in the last quarter. Northern Trust Corp boosted its position in LTC Properties by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,485,206 shares of the real estate investment trust’s stock valued at $56,437,000 after acquiring an additional 11,856 shares in the last quarter. Royal Bank of Canada boosted its position in LTC Properties by 4.3% during the 1st quarter. Royal Bank of Canada now owns 1,107,424 shares of the real estate investment trust’s stock valued at $42,082,000 after acquiring an additional 45,288 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its position in LTC Properties by 2.8% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 735,206 shares of the real estate investment trust’s stock valued at $27,968,000 after acquiring an additional 19,707 shares in the last quarter. 80.08% of the stock is currently owned by institutional investors and hedge funds.
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 March 31, 2018, LTC had 203 investments located in 29 states comprising 105 assisted living communities, 97 skilled nursing centers and a behavioral health care hospital.
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