| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 1/6 |
| Past Performance | 1/6 |
| Financial Health | 2/6 |
| Dividends | 6/6 |
LTC Stock Overview
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 Properties Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$36.70 |
| 52 Week High | US$44.73 |
| 52 Week Low | US$31.36 |
| Beta | 0.97 |
| 1 Month Change | 7.12% |
| 3 Month Change | 6.50% |
| 1 Year Change | -10.90% |
| 3 Year Change | -17.31% |
| 5 Year Change | -23.17% |
| Change since IPO | 267.00% |
Recent News & Updates
LTC Properties: Senior Housing Distress Will Likely Force A Dividend Cut
LTC Properties missed the top and bottom line estimates. We review what caused the miss and where the company stands today. Spoiler alert, "Call Kenny Loggins, Cause You Are In The Danger Zone."
Shareholder Returns
| LTC | US REITs | US Market | |
|---|---|---|---|
| 7D | 3.2% | -0.8% | -0.3% |
| 1Y | -10.9% | 30.5% | 13.7% |
Return vs Industry: LTC underperformed the US REITs industry which returned 30.5% over the past year.
Return vs Market: LTC underperformed the US Market which returned 13.7% over the past year.
Price Volatility
| LTC volatility | |
|---|---|
| LTC Average Weekly Movement | 4.2% |
| REITs Industry Average Movement | 3.9% |
| Market Average Movement | 6.6% |
| 10% most volatile stocks in US Market | 15.9% |
| 10% least volatile stocks in US Market | 2.4% |
Stable Share Price: LTC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: LTC's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1992 | 24 | Wendy Simpson | https://www.LTCreit.com |
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 181 investments in 27 states with 29 operating partners. The portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties.
LTC Properties Fundamentals Summary
| LTC fundamental statistics | |
|---|---|
| Market Cap | US$1.45b |
| Earnings (TTM) | US$60.17m |
| Revenue (TTM) | US$161.75m |
24.0x
P/E Ratio8.9x
P/S RatioIs LTC overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| LTC income statement (TTM) | |
|---|---|
| Revenue | US$161.75m |
| Cost of Revenue | US$19.47m |
| Gross Profit | US$142.28m |
| Expenses | US$82.11m |
| Earnings | US$60.17m |
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.53 |
| Gross Margin | 87.97% |
| Net Profit Margin | 37.20% |
| Debt/Equity Ratio | 87.9% |
How did LTC perform over the long term?
See historical performance and comparisonDividends
6.2%
Current Dividend Yield96%
Payout RatioDoes LTC pay a reliable dividends?
See LTC dividend history and benchmarks| LTC Properties dividend dates | |
|---|---|
| Ex Dividend Date | Jan 20 2022 |
| Dividend Pay Date | Jan 31 2022 |
| Days until Ex dividend | 2 days |
| Days until Dividend pay date | 13 days |
Does LTC pay a reliable dividends?
See LTC dividend history and benchmarksValuation
Is LTC Properties undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: LTC ($36.7) is trading below our estimate of fair value ($81.38)
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 (24x) compared to the US REITs industry average (46.5x).
PE vs Market: LTC is poor value based on its PE Ratio (24x) compared to the US market (17.4x).
Price to Earnings Growth Ratio
PEG Ratio: LTC is poor value based on its PEG Ratio (4.1x)
Price to Book Ratio
PB vs Industry: LTC's PB Ratio (1.9x) is in line with the US REITs industry average.
Future Growth
How is LTC Properties forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
5.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LTC's forecast earnings growth (5.9% per year) is above the savings rate (2%).
Earnings vs Market: LTC's earnings (5.9% per year) are forecast to grow slower than the US market (13% per year).
High Growth Earnings: LTC's earnings are forecast to grow, but not significantly.
Revenue vs Market: LTC's revenue (5.3% per year) is forecast to grow slower than the US market (9.3% per year).
High Growth Revenue: LTC's revenue (5.3% 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
Past Performance
How has LTC Properties performed over the past 5 years?
-4.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LTC has high quality earnings.
Growing Profit Margin: LTC's current net profit margins (37.2%) are lower than last year (56.7%).
Past Earnings Growth Analysis
Earnings Trend: LTC's earnings have declined by 4% 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 (-33%) over the past year, making it difficult to compare to the REITs industry average (29.5%).
Return on Equity
High ROE: LTC's Return on Equity (8.1%) is considered low.
Financial Health
How is LTC Properties's financial position?
Financial Position Analysis
Short Term Liabilities: LTC's short term assets ($125.9M) exceed its short term liabilities ($38.3M).
Long Term Liabilities: LTC's short term assets ($125.9M) do not cover its long term liabilities ($661.8M).
Debt to Equity History and Analysis
Debt Level: LTC's net debt to equity ratio (81.9%) is considered high.
Reducing Debt: LTC's debt to equity ratio has increased from 79.6% to 87.9% over the past 5 years.
Debt Coverage: LTC's debt is not well covered by operating cash flow (15.1%).
Interest Coverage: LTC's interest payments on its debt are well covered by EBIT (3.2x coverage).
Balance Sheet
Dividend
What is LTC Properties's current dividend yield, its reliability and sustainability?
6.21%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: LTC's dividend (6.21%) is higher than the bottom 25% of dividend payers in the US market (1.32%).
High Dividend: LTC's dividend (6.21%) is in the top 25% of dividend payers in the US market (3.44%)
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: At its current payout ratio (95.6%), LTC's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LTC's dividends in 3 years are forecast to be covered by earnings (86.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
14.8yrs
Average management tenure
CEO
Wendy Simpson (72 yo)
14.83yrs
Tenure
US$4,200,356
Compensation
Ms. Wendy L. Simpson has been the Chief Executive Officer of LTC Properties Inc. since October 2005 and served as its President since March 2007 until May 26, 2020. Ms. Simpson served as the Chief Financia...
CEO Compensation Analysis
Compensation vs Market: Wendy's total compensation ($USD4.20M) is about average for companies of similar size in the US market ($USD3.62M).
Compensation vs Earnings: Wendy's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: LTC's management team is seasoned and experienced (14.8 years average tenure).
Board Members
Experienced Board: LTC's board of directors are seasoned and experienced ( 14.7 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.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
LTC Properties, Inc.'s 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
- Implied Market Cap: US$1.445b
- Shares outstanding: 39.37m
- Website: https://www.LTCreit.com
Number of Employees
Location
- LTC Properties, Inc.
- 2829 Townsgate Road
- Suite 350
- Westlake Village
- California
- 91361
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/17 23:28 |
| End of Day Share Price | 2022/01/14 00:00 |
| Earnings | 2021/09/30 |
| Annual Earnings | 2020/12/31 |
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.