Wedbush Estimates LTC Properties' FY2024 Earnings (NYSE:LTC)

LTC Properties, Inc. (NYSE:LTC - Free Report) - Wedbush raised their FY2024 EPS estimates for LTC Properties in a report issued on Monday, November 4th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $2.79 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 $2.74 per share.

Separately, Wells Fargo & Company restated an "equal weight" rating and set a $37.00 target price (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

LTC Properties Trading Up 0.5 %

NYSE LTC traded up $0.19 during mid-day trading on Tuesday, hitting $37.94. The company's stock had a trading volume of 209,403 shares, compared to its average volume of 281,613. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. LTC Properties has a 52-week low of $30.30 and a 52-week high of $39.64. The stock's fifty day simple moving average is $36.56 and its two-hundred day simple moving average is $35.36. The firm has a market capitalization of $1.72 billion, a P/E ratio of 16.20 and a beta of 0.90.

LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly 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 firm had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business's revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share.

Institutional Trading of LTC Properties

Several institutional investors have recently added to or reduced their stakes in LTC. GAMMA Investing LLC increased its position in shares of LTC Properties by 25.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust's stock worth $66,000 after purchasing an additional 366 shares during the last quarter. Amalgamated Bank grew its stake in LTC Properties by 2.9% in the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust's stock worth $451,000 after purchasing an additional 372 shares in the last quarter. New York State Teachers Retirement System increased its holdings in LTC Properties by 0.5% in the third quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust's stock valued at $2,801,000 after buying an additional 375 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in LTC Properties by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 437 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in LTC Properties by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust's stock worth $420,000 after buying an additional 447 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction on Friday, August 30th. The shares were 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 $1,258,326.90. The trade was a 0.00 % decrease in their position. 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.

LTC Properties Announces Dividend

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

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.