$34.12 Million in Sales Expected for LTC Properties Inc (LTC) This Quarter

Analysts predict that LTC Properties Inc (NYSE:LTC) will report sales of $34.12 million for the current quarter, according to Zacks. Two analysts have made estimates for LTC Properties’ earnings, with the highest sales estimate coming in at $34.13 million and the lowest estimate coming in at $34.10 million. LTC Properties reported sales of $41.25 million in the same quarter last year, which indicates a negative year-over-year growth rate of 17.3%. The company is scheduled to issue its next earnings report after the market closes on Monday, November 5th.

On average, analysts expect that LTC Properties will report full year sales of $136.80 million for the current fiscal year, with estimates ranging from $136.80 million to $136.81 million. For the next financial year, analysts anticipate that the company will post sales of $138.07 million, with estimates ranging from $138.03 million to $138.12 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover LTC Properties.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.98. The firm had revenue of $33.93 million during the quarter, compared to analysts’ expectations of $34.55 million. LTC Properties had a return on equity of 16.84% and a net margin of 77.94%.

A number of analysts have recently weighed in on LTC shares. Zacks Investment Research cut LTC Properties from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine raised LTC Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Stifel Nicolaus set a $43.00 target price on LTC Properties and gave the stock a “hold” rating in a research note on Thursday, August 9th. TheStreet upgraded LTC Properties from a “c+” rating to a “b-” rating in a research note on Thursday, June 28th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $46.00 target price (up previously from $45.00) on shares of LTC Properties in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. LTC Properties presently has a consensus rating of “Hold” and an average target price of $42.50.

LTC Properties stock opened at $43.44 on Tuesday. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.73 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 3.63 and a beta of 0.08. LTC Properties has a 1-year low of $34.46 and a 1-year high of $49.59.

The company also recently announced a oct 18 dividend, which will be paid on Wednesday, October 31st. Investors of record on Tuesday, October 23rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, October 22nd. LTC Properties’s dividend payout ratio (DPR) is 73.55%.

A number of hedge funds have recently modified their holdings of LTC. Itau Unibanco Holding S.A. purchased a new position in LTC Properties in the 2nd quarter worth $191,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of LTC Properties during the 2nd quarter valued at about $201,000. Pitcairn Co. purchased a new position in shares of LTC Properties during the 2nd quarter valued at about $205,000. Janney Montgomery Scott LLC purchased a new position in shares of LTC Properties during the 2nd quarter valued at about $206,000. Finally, Wedbush Securities Inc. purchased a new position in shares of LTC Properties during the 2nd quarter valued at about $218,000. Institutional investors own 75.51% of the company’s stock.

About LTC Properties

LTC Properties (NYSE: 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 preferred equity and mezzanine lending. At June 30, 2018, LTC had 199 investments located in 28 states comprising 102 assisted living communities, 96 skilled nursing centers and one behavioral health care hospital.

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