Zacks: Brokerages Expect LTC Properties, Inc. (NYSE:LTC) Will Announce Quarterly Sales of $30.36 Million

Analysts predict that LTC Properties, Inc. (NYSE:LTC – Get Rating) will post $30.36 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for LTC Properties’ earnings. The highest sales estimate is $31.32 million and the lowest is $29.40 million. LTC Properties posted sales of $29.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that LTC Properties will report full-year sales of $124.92 million for the current year, with estimates ranging from $119.80 million to $130.04 million. For the next financial year, analysts expect that the company will post sales of $135.45 million, with estimates ranging from $124.80 million to $146.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover LTC Properties.

LTC Properties (NYSE:LTC – Get Rating) last released its earnings results on Thursday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.26). The firm had revenue of $40.80 million during the quarter, compared to analysts’ expectations of $37.08 million. LTC Properties had a net margin of 36.03% and a return on equity of 7.48%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS.

A number of research analysts have issued reports on the company. Royal Bank of Canada upgraded LTC Properties from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $34.00 to $37.00 in a research note on Monday, March 14th. StockNews.com assumed coverage on LTC Properties in a research note on Thursday, March 31st. They set a “hold” rating for the company. Credit Suisse Group lifted their price objective on LTC Properties from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, April 1st. Barclays assumed coverage on LTC Properties in a research note on Tuesday, April 26th. They set an “underweight” rating and a $30.00 price objective for the company. Finally, Zacks Investment Research upgraded LTC Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.60.

Several institutional investors have recently bought and sold shares of LTC. Morgan Stanley grew its holdings in shares of LTC Properties by 84.1% in the second quarter. Morgan Stanley now owns 280,099 shares of the real estate investment trust’s stock worth $10,752,000 after acquiring an additional 127,927 shares during the period. Advisor Group Holdings Inc. grew its holdings in shares of LTC Properties by 38.8% in the third quarter. Advisor Group Holdings Inc. now owns 14,399 shares of the real estate investment trust’s stock worth $457,000 after acquiring an additional 4,022 shares during the period. Swiss National Bank grew its holdings in shares of LTC Properties by 0.7% in the third quarter. Swiss National Bank now owns 87,062 shares of the real estate investment trust’s stock worth $2,759,000 after acquiring an additional 600 shares during the period. Barclays PLC grew its holdings in shares of LTC Properties by 54.0% in the third quarter. Barclays PLC now owns 65,097 shares of the real estate investment trust’s stock worth $2,062,000 after acquiring an additional 22,814 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of LTC Properties in the third quarter worth $201,000. 72.14% of the stock is owned by institutional investors and hedge funds.

Shares of LTC traded up $0.21 on Monday, reaching $38.69. The stock had a trading volume of 184,764 shares, compared to its average volume of 316,908. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 27.25 and a beta of 0.97. The company has a debt-to-equity ratio of 1.03, a quick ratio of 15.55 and a current ratio of 15.55. The company has a 50-day simple moving average of $36.50 and a 200-day simple moving average of $35.11. LTC Properties has a 12-month low of $31.36 and a 12-month high of $40.58.

The firm also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 22nd will be issued a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Tuesday, June 21st. LTC Properties’s payout ratio is 160.56%.

LTC Properties Company Profile (Get Rating)

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 181 investments in 27 states with 29 operating partners.

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