LTC Properties (NYSE:LTC) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

LTC Properties (NYSE:LTC) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07, Zacks reports. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $45.25 million.

LTC Properties Stock Performance

Shares of NYSE LTC opened at $34.54 on Wednesday. LTC Properties has a 12 month low of $31.14 and a 12 month high of $39.89. The company has a market capitalization of $1.56 billion, a P/E ratio of 14.82 and a beta of 0.93. The stock has a 50 day moving average of $34.45 and a 200-day moving average of $36.11. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties Announces Dividend

The company also recently disclosed a jan 25 dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be given a $0.19 dividend. This represents a dividend yield of 6.45%. The ex-dividend date is Friday, March 21st. LTC Properties’s dividend payout ratio (DPR) is presently 97.85%.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LTC shares. JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Tuesday, January 7th. Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th.

About LTC Properties

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.