Brokers Issue Forecasts for LTC Properties FY2024 Earnings

LTC Properties, Inc. (NYSE:LTC) – Analysts at Wedbush raised their FY2024 EPS estimates for shares of LTC Properties in a research note issued to investors on Monday, November 4th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will earn $2.79 per share for the year, up from their prior forecast of $2.74. Wedbush has a “Outperform” rating and a $40.00 price objective on the stock. The consensus estimate for LTC Properties’ current full-year earnings is $2.79 per share.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The business had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share.

Separately, Wells Fargo & Company restated an “equal weight” rating and set a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st.

LTC Properties Stock Performance

Shares of LTC stock opened at $37.93 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 16.28 and a beta of 0.90. LTC Properties has a one year low of $30.30 and a one year high of $39.64. The company’s 50-day simple moving average is $36.62 and its 200-day simple moving average is $35.42.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 annualized dividend and a dividend yield of 6.01%. LTC Properties’s dividend payout ratio is currently 97.85%.

Insider Buying and Selling

In other news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the director now owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of LTC Properties by 180.4% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock valued at $1,623,000 after purchasing an additional 30,258 shares during the period. Cetera Advisors LLC bought a new position in LTC Properties during the first quarter valued at about $276,000. Strategic Financial Concepts LLC grew its holdings in LTC Properties by 3,401.1% during the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 654,136 shares during the period. Millennium Management LLC raised its position in LTC Properties by 33.7% in the second quarter. Millennium Management LLC now owns 111,188 shares of the real estate investment trust’s stock worth $3,836,000 after acquiring an additional 28,039 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in LTC Properties in the 2nd quarter valued at about $550,000. 69.25% of the stock is currently owned by institutional investors.

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.