LTC Properties
Market Cap
US$2.0b
Last Updated
2020/02/27 00:38 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
6 star dividend payer and fair value.
Similar Companies
Share Price & News
How has LTC Properties's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: LTC has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
2.2%
LTC
-4.7%
US REITs
-7.6%
US Market
1 Year Return
12.3%
LTC
11.6%
US REITs
10.2%
US Market
Return vs Industry: LTC underperformed the US REITs industry which returned 12.8% over the past year.
Return vs Market: LTC underperformed the US Market which returned 10.5% over the past year.
Shareholder returns
| LTC | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.2% | -4.7% | -7.6% |
| 30 Day | 6.4% | -1.5% | -4.5% |
| 90 Day | 6.6% | 0.9% | -0.6% |
| 1 Year | 17.9%12.3% | 16.1%11.6% | 12.5%10.2% |
| 3 Year | 21.1%4.1% | 31.7%15.3% | 37.1%28.3% |
| 5 Year | 46.4%14.4% | 52.7%21.3% | 60.8%43.2% |
Price Volatility Vs. Market
How volatile is LTC Properties's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 days ago | Simply Wall St
Earnings Miss: LTC Properties, Inc. Missed EPS By 6.5% And Analysts Are Revising Their Forecasts1 week ago | Simply Wall St
Investors Who Bought LTC Properties (NYSE:LTC) Shares Five Years Ago Are Now Up 10%1 month ago | Simply Wall St
Should You Be Excited About LTC Properties, Inc.'s (NYSE:LTC) 12% Return On Equity?Valuation
Is LTC Properties undervalued compared to its fair value and its price relative to the market?
41.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: LTC ($49.31) is trading below our estimate of fair value ($81.25)
Significantly Below Fair Value: LTC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: LTC is good value based on its PE Ratio (24.3x) compared to the REITs industry average (36.3x).
PE vs Market: LTC is poor value based on its PE Ratio (24.3x) compared to the US market (17.2x).
Price to Earnings Growth Ratio
PEG Ratio: LTC is poor value based on its PEG Ratio (5.5x)
Price to Book Ratio
PB vs Industry: LTC is overvalued based on its PB Ratio (2.5x) compared to the US REITs industry average (2x).
Next Steps
Future Growth
How is LTC Properties forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
4.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LTC's forecast earnings growth (4.5% per year) is above the savings rate (1.7%).
Earnings vs Market: LTC's earnings (4.5% per year) are forecast to grow slower than the US market (13.2% per year).
High Growth Earnings: LTC's earnings are forecast to grow, but not significantly.
Revenue vs Market: LTC's revenue (4.8% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: LTC's revenue (4.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if LTC's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has LTC Properties performed over the past 5 years?
12.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LTC has high quality earnings.
Growing Profit Margin: LTC's current net profit margins (43.3%) are lower than last year (92.7%).
Past Earnings Growth Analysis
Earnings Trend: LTC's earnings have grown by 12.7% per year over the past 5 years.
Accelerating Growth: LTC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: LTC had negative earnings growth (-48.1%) over the past year, making it difficult to compare to the REITs industry average (5.9%).
Return on Equity
High ROE: LTC's Return on Equity (10.3%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is LTC Properties's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: LTC has a high level of physical assets or inventory.
Debt Coverage by Assets: LTC's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: LTC's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if LTC has a sufficient allowance for bad loans.
Low Risk Liabilities: LTC reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if LTC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: LTC has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if LTC has an appropriate level of bad loans.
Next Steps
Dividend
What is LTC Properties's current dividend yield, its reliability and sustainability?
4.57%
Current Dividend Yield
Upcoming Dividend Payment
Purchase LTC Properties before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: LTC's dividend (4.62%) is higher than the bottom 25% of dividend payers in the US market (1.52%).
High Dividend: LTC's dividend (4.62%) is in the top 25% of dividend payers in the US market (3.9%)
Stability and Growth of Payments
Stable Dividend: LTC's dividends per share have been stable in the past 10 years.
Growing Dividend: LTC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (74.1%), LTC's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LTC's dividends in 3 years are forecast to be thoroughly covered by earnings (1.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
9.0yrs
Average management tenure
CEO
Wendy Simpson (70yo)
12.9yrs
Tenure
US$3,315,795
Compensation
Ms. Wendy L. Simpson has been the Chief Executive Officer and President of LTC Properties Inc. since October 2005 and March 2007 respectively. Ms. Simpson served as the Chief Financial Officer of LTC Prope ...
CEO Compensation Analysis
Compensation vs Market: Wendy's total compensation ($USD3.32M) is about average for companies of similar size in the US market ($USD3.92M).
Compensation vs Earnings: Wendy's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 12.9yrs | US$3.32m | 0.86% $17.0m | |
| Executive VP | 12.9yrs | US$2.03m | 0.28% $5.5m | |
| Executive VP & Chief Investment Officer | 15.8yrs | US$2.03m | 0.25% $5.0m | |
| Vice President of Marketing | 4yrs | no data | no data | |
| Human Resource Manager | 0yrs | no data | no data | |
| Senior VP | 4.7yrs | US$1.24m | no data | |
| Senior VP & MD of Business Development | 5.1yrs | no data | no data | |
| Vice President of Asset Management | 2.5yrs | no data | no data | |
| Vice President & Director of Tax | 19.7yrs | US$268.79k | no data |
9.0yrs
Average Tenure
53yo
Average Age
Experienced Management: LTC's management team is seasoned and experienced (9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 12.9yrs | US$3.32m | 0.86% $17.0m | |
| Independent Director | 10.6yrs | US$180.01k | 0.093% $1.8m | |
| Independent Director | 19.8yrs | US$180.01k | 0.091% $1.8m | |
| Lead Independent Director | 10.1yrs | US$190.01k | 0.045% $894.1k | |
| Independent Director | 5.9yrs | US$175.01k | 0.056% $1.1m |
10.1yrs
Average Tenure
72yo
Average Age
Experienced Board: LTC's board of directors are seasoned and experienced ( 10.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
LTC Properties, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: LTC Properties, Inc.
- Ticker: LTC
- Exchange: NYSE
- Founded: 1992
- Industry: Health Care REITs
- Sector: Real Estate
- Market Cap: US$1.983b
- Shares outstanding: 39.75m
- Website: https://www.LTCreit.com
Number of Employees
Location
- LTC Properties, Inc.
- 2829 Townsgate Road
- Suite 350
- Westlake Village
- California
- 91361
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| LTC | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Aug 1992 |
| LTP | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Aug 1992 |
| 0JSP | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Aug 1992 |
Biography
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. The portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/27 00:38 |
| End of Day Share Price | 2020/02/26 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.