Mitsubishi UFJ Financial Group Analysts Lower Earnings Estimates for LTC Properties Inc (LTC)
LTC Properties Inc (NYSE:LTC) – Mitsubishi UFJ Financial Group reduced their Q3 2019 earnings estimates for shares of LTC Properties in a research report issued to clients and investors on Tuesday, May 14th. Mitsubishi UFJ Financial Group analyst K. Ford now forecasts that the real estate investment trust will earn $0.76 per share for the quarter, down from their prior estimate of $0.77. Mitsubishi UFJ Financial Group also issued estimates for LTC Properties’ Q4 2019 earnings at $0.75 EPS and FY2019 earnings at $3.02 EPS.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. ValuEngine downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.40.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Thursday, May 9th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.23). The business had revenue of $28.02 million for the quarter, compared to the consensus estimate of $33.02 million. LTC Properties had a net margin of 95.25% and a return on equity of 19.07%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zebra Capital Management LLC raised its holdings in LTC Properties by 17.7% in the 1st quarter. Zebra Capital Management LLC now owns 9,812 shares of the real estate investment trust’s stock worth $449,000 after acquiring an additional 1,475 shares during the period. Eii Capital Management Inc. raised its holdings in LTC Properties by 56.8% in the 1st quarter. Eii Capital Management Inc. now owns 4,021 shares of the real estate investment trust’s stock worth $184,000 after acquiring an additional 1,457 shares during the period. Advisors Asset Management Inc. bought a new position in LTC Properties in the 1st quarter worth $131,000. Goldman Sachs Group Inc. raised its holdings in LTC Properties by 17.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 285,622 shares of the real estate investment trust’s stock worth $13,082,000 after acquiring an additional 42,118 shares during the period. Finally, Oxford Asset Management LLP raised its holdings in LTC Properties by 40.8% in the 1st quarter. Oxford Asset Management LLP now owns 70,999 shares of the real estate investment trust’s stock worth $3,252,000 after acquiring an additional 20,565 shares during the period. Hedge funds and other institutional investors own 76.39% of the company’s stock.
The company also recently announced a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, June 19th. This represents a $2.28 annualized dividend and a yield of 4.98%. LTC Properties’s dividend payout ratio (DPR) is presently 74.51%.
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 holds more than 200 investments in 28 states with 30 operating partners.
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