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LTC PROPERTIES, INC.

(LTC)
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LTC: Q2 Earnings Snapshot

07/29/2021 | 07:08pm EDT

WESTLAKE VILLAGE, Calif. (AP) _ LTC Properties Inc. (LTC) on Thursday reported a key measure of profitability in its second quarter. The results fell short of Wall Street expectations.

The Westlake Village, California-based real estate investment trust said it had funds from operations of $22.2 million, or 57 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 68 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $18.1 million, or 46 cents per share.

The real estate investment trust posted revenue of $38.1 million in the period. Its adjusted revenue was $29.8 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $33 million.

The company's shares have dropped slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.80, declining slightly in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LTC at https://www.zacks.com/ap/LTC

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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Analyst Recommendations on LTC PROPERTIES, INC.
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Financials (USD)
Sales 2021 156 M - -
Net income 2021 60,8 M - -
Net Debt 2021 618 M - -
P/E ratio 2021 20,8x
Yield 2021 7,00%
Capitalization 1 282 M 1 282 M -
EV / Sales 2021 12,1x
EV / Sales 2022 11,3x
Nbr of Employees 24
Free-Float 98,0%
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Technical analysis trends LTC PROPERTIES, INC.
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Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 9
Last Close Price 32,56 $
Average target price 37,86 $
Spread / Average Target 16,3%
EPS Revisions
Managers and Directors
Wendy L. Simpson Chairman & Chief Executive Officer
Pamela J. Shelley-Kessler Co-President, Chief Financial Officer & Secretary
Clint B. Malin Co-President & Chief Investment Officer
Michael Bowden Vice President-Investments
Timothy J. Triche Independent Director
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