LTC Properties (NYSE:LTC) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

LTC Properties (NYSE:LTC) posted its earnings results on Monday. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.22), Zacks reports. The business had revenue of $50.12 million for the quarter, compared to analysts’ expectations of $33.47 million. LTC Properties had a return on equity of 10.46% and a net margin of 46.78%. LTC Properties’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS.

LTC Properties Stock Up 0.8 %

Shares of NYSE LTC traded up $0.28 during mid-day trading on Wednesday, reaching $35.77. The company had a trading volume of 121,777 shares, compared to its average volume of 278,585. The firm has a 50 day simple moving average of $34.84 and a two-hundred day simple moving average of $33.15. LTC Properties has a 52-week low of $30.30 and a 52-week high of $38.28. The company has a current ratio of 15.86, a quick ratio of 15.86 and a debt-to-equity ratio of 0.94. The stock has a market cap of $1.55 billion, a P/E ratio of 18.58 and a beta of 0.89.

LTC Properties Dividend Announcement

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

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.