LTC Properties (NYSE:LTC) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

LTC Properties (NYSE:LTC) posted its earnings results on Monday. The real estate investment trust reported $0.72 earnings per share for the quarter, beating 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 Stock Performance

Shares of NYSE LTC traded up $0.40 during mid-day trading on Monday, hitting $34.84. The company had a trading volume of 346,278 shares, compared to its average volume of 328,788. The business’s 50-day simple moving average is $34.52 and its 200-day simple moving average is $36.13. 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 12 month low of $31.14 and a 12 month high of $39.89. The firm has a market cap of $1.58 billion, a P/E ratio of 14.95 and a beta of 0.93.

LTC Properties Announces Dividend

The business also recently announced a jan 25 dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be paid a dividend of $0.19 per share. This represents a yield of 6.45%. The ex-dividend date is Friday, March 21st. LTC Properties’s payout ratio is currently 97.85%.

Analysts Set New Price Targets

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

Insider Transactions at LTC Properties

In other LTC Properties news, Director David L. Gruber acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the purchase, the director now owns 21,516 shares in the company, valued at $799,534.56. This represents a 16.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

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.