LTC Properties, Inc. Forecasted to Post FY2024 Earnings of $2.74 Per Share (NYSE:LTC)

LTC Properties, Inc. (NYSE:LTC) – Investment analysts at Wedbush lifted their FY2024 earnings estimates for shares of LTC Properties in a report issued on Thursday, August 8th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $2.74 for the year, up from their prior forecast of $2.65. The consensus estimate for LTC Properties’ current full-year earnings is $2.64 per share.

LTC Properties Price Performance

LTC Properties stock opened at $35.82 on Monday. The company has a current ratio of 11.29, a quick ratio of 15.86 and a debt-to-equity ratio of 0.88. The stock has a market cap of $1.56 billion, a P/E ratio of 18.66 and a beta of 0.89. The company has a 50-day moving average price of $35.15 and a 200 day moving average price of $33.42. LTC Properties has a 12-month low of $30.30 and a 12-month high of $38.28.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The company had revenue of $50.12 million during the quarter, compared to analyst estimates of $33.47 million. During the same period last year, the business earned $0.66 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of LTC Properties by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock valued at $217,667,000 after acquiring an additional 91,963 shares during the period. Strategic Financial Concepts LLC increased its stake in LTC Properties by 3,401.1% during the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 654,136 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in LTC Properties by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 669,340 shares of the real estate investment trust’s stock worth $21,499,000 after buying an additional 24,322 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in LTC Properties by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock valued at $21,180,000 after buying an additional 31,980 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of LTC Properties by 3.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust’s stock worth $9,877,000 after acquiring an additional 9,221 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Insider Activity at LTC Properties

In other LTC Properties news, Director David L. Gruber bought 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $35.75 per share, with a total value of $214,500.00. Following the completion of the purchase, the director now directly owns 18,412 shares in the company, valued at $658,229. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Friday, September 20th. LTC Properties’s payout ratio is presently 118.75%.

About LTC Properties

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.