LTC Properties (NYSE:LTC) Announces Earnings Results

LTC Properties (NYSE:LTC) released its quarterly earnings data on Monday. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.

LTC Properties Price Performance

Shares of LTC Properties stock traded up $0.40 during trading on Monday, reaching $34.84. The company’s stock had a trading volume of 346,278 shares, compared to its average volume of 328,788. The stock has a 50-day moving average price of $34.52 and a two-hundred day moving average price of $36.13. The stock has a market capitalization of $1.58 billion, a P/E ratio of 14.95 and a beta of 0.93. 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 has a one year low of $31.14 and a one year high of $39.89.

LTC Properties Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on LTC. Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Tuesday, January 7th.

Insiders Place Their Bets

In related news, Director David L. Gruber acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

LTC Properties Company Profile

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.