LTC Properties (NYSE:LTC) Issues Earnings Results, Misses Expectations By $0.05 EPS

LTC Properties (NYSE:LTC - Get Free Report) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05), Zacks reports. The company had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share.

LTC Properties Price Performance

Shares of LTC Properties stock traded up $2.14 during trading on Tuesday, hitting $38.08. 555,485 shares of the company's stock traded hands, compared to its average volume of 281,464. LTC Properties has a twelve month low of $30.30 and a twelve month high of $38.28. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29. The company has a market cap of $1.66 billion, a PE ratio of 19.19 and a beta of 0.91. The firm's fifty day moving average price is $36.35 and its 200 day moving average price is $35.13.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Thursday, November 21st. LTC Properties's payout ratio is 118.75%.

Insiders Place Their Bets

In related news, Director David L. Gruber purchased 6,000 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $35.75 per share, with a total value of $214,500.00. Following the purchase, the director now directly owns 18,412 shares in the company, valued at $658,229. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the company's stock in a transaction dated 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 directly owns 34,522 shares of the company's stock, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David L. Gruber acquired 6,000 shares of the company's stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $35.75 per share, with a total value of $214,500.00. Following the acquisition, the director now owns 18,412 shares of the company's stock, valued at approximately $658,229. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush reiterated an "outperform" rating and issued a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

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.