Analysts predict that LTC Properties Inc (NYSE:LTC) will announce $38.02 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for LTC Properties’ earnings, with the lowest sales estimate coming in at $35.25 million and the highest estimate coming in at $39.14 million. LTC Properties reported sales of $34.21 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.1%. The business is scheduled to report its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that LTC Properties will report full year sales of $142.91 million for the current financial year, with estimates ranging from $138.85 million to $144.74 million. For the next fiscal year, analysts expect that the firm will post sales of $161.95 million, with estimates ranging from $143.90 million to $190.43 million. Zacks’ sales calculations are an average based on a survey of research firms that follow LTC Properties.
LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.25). LTC Properties had a return on equity of 13.18% and a net margin of 63.58%. The business had revenue of $38.28 million during the quarter, compared to the consensus estimate of $30.54 million.
LTC has been the topic of several recent research reports. Berenberg Bank initiated coverage on shares of LTC Properties in a research note on Thursday, September 12th. They issued a “hold” rating and a $49.00 price objective on the stock. Credit Suisse Group initiated coverage on shares of LTC Properties in a research note on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 price objective on the stock. Finally, Zacks Investment Research cut shares of LTC Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. LTC Properties presently has a consensus rating of “Hold” and a consensus target price of $40.20.
In other news, CEO Wendy Simpson sold 7,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $49.20, for a total value of $344,400.00. Following the transaction, the chief executive officer now owns 379,365 shares in the company, valued at approximately $18,664,758. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in LTC Properties by 0.7% during the 1st quarter. BlackRock Inc. now owns 6,947,378 shares of the real estate investment trust’s stock worth $318,191,000 after acquiring an additional 47,476 shares during the period. Vanguard Group Inc. raised its stake in LTC Properties by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,168,937 shares of the real estate investment trust’s stock worth $281,673,000 after acquiring an additional 50,669 shares during the period. Northern Trust Corp raised its stake in LTC Properties by 0.6% during the 2nd quarter. Northern Trust Corp now owns 930,239 shares of the real estate investment trust’s stock worth $42,475,000 after acquiring an additional 5,140 shares during the period. Bank of New York Mellon Corp raised its stake in LTC Properties by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 760,119 shares of the real estate investment trust’s stock worth $34,706,000 after acquiring an additional 55,814 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in LTC Properties by 5.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 571,446 shares of the real estate investment trust’s stock worth $26,093,000 after acquiring an additional 29,167 shares during the period. Institutional investors own 75.78% of the company’s stock.
Shares of NYSE:LTC traded down $0.36 during trading on Friday, hitting $51.22. The company’s stock had a trading volume of 269,823 shares, compared to its average volume of 194,758. The company has a 50-day moving average of $49.30 and a 200-day moving average of $46.56. LTC Properties has a 12 month low of $40.11 and a 12 month high of $51.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.57 and a quick ratio of 9.57. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 4.22 and a beta of 0.39.
LTC Properties Company Profile
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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