LTC Properties
Market Cap
US$1.6b
Last Updated
2021/02/23 23:27 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. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 7.8% per year for the next 3 years
Snowflake Analysis
6 star dividend payer and good 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 is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: LTC's weekly volatility has decreased from 9% to 3% over the past year.
Market Performance
7 Day Return
-1.5%
LTC
1.4%
US REITs
-2.5%
US Market
1 Year Return
-16.2%
LTC
-6.2%
US REITs
34.1%
US Market
Return vs Industry: LTC underperformed the US REITs industry which returned -6.2% over the past year.
Return vs Market: LTC underperformed the US Market which returned 34.1% over the past year.
Shareholder returns
| LTC | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.5% | 1.4% | -2.5% |
| 30 Day | 3.1% | 4.6% | 0.1% |
| 90 Day | 7.4% | 4.9% | 4.5% |
| 1 Year | -10.8%-16.2% | -1.8%-6.2% | 37.1%34.1% |
| 3 Year | 29.7%10.0% | 41.4%24.3% | 58.0%47.9% |
| 5 Year | 19.5%-7.9% | 57.0%25.4% | 131.9%106.2% |
Long-Term 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 weeks ago | Simply Wall St
Here's What LTC Properties, Inc.'s (NYSE:LTC) Shareholder Ownership Structure Looks Like2 months ago | Simply Wall St
A Look At LTC Properties' (NYSE:LTC) Share Price Returns3 months ago | Simply Wall St
Earnings Miss: LTC Properties, Inc. Missed EPS By 32% And Analysts Are Revising Their ForecastsValuation
Is LTC Properties undervalued compared to its fair value and its price relative to the market?
38.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: LTC ($41.32) is trading below our estimate of fair value ($67.67)
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 (17.1x) compared to the US REITs industry average (43.4x).
PE vs Market: LTC is good value based on its PE Ratio (17.1x) compared to the US market (21.5x).
Price to Earnings Growth Ratio
PEG Ratio: LTC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: LTC is overvalued based on its PB Ratio (2.1x) compared to the US REITs industry average (1.6x).
Next Steps
Future Growth
How is LTC Properties forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-7.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LTC's earnings are forecast to decline over the next 3 years (-7.8% per year).
Earnings vs Market: LTC's earnings are forecast to decline over the next 3 years (-7.8% per year).
High Growth Earnings: LTC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: LTC's revenue (5.9% per year) is forecast to grow slower than the US market (10.5% per year).
High Growth Revenue: LTC's revenue (5.9% 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?
7.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LTC has a large one-off gain of $39.8M impacting its December 31 2020 financial results.
Growing Profit Margin: LTC's current net profit margins (60.1%) are higher than last year (43.5%).
Past Earnings Growth Analysis
Earnings Trend: LTC's earnings have grown by 7.2% per year over the past 5 years.
Accelerating Growth: LTC's earnings growth over the past year (17.7%) exceeds its 5-year average (7.2% per year).
Earnings vs Industry: LTC earnings growth over the past year (17.7%) exceeded the REITs industry -5.6%.
Return on Equity
High ROE: LTC's Return on Equity (12.3%) is considered low.
Next Steps
Financial Health
How is LTC Properties's financial position?
Financial Position Analysis
Short Term Liabilities: LTC's short term assets ($79.4M) exceed its short term liabilities ($34.3M).
Long Term Liabilities: LTC's short term assets ($79.4M) do not cover its long term liabilities ($649.4M).
Debt to Equity History and Analysis
Debt Level: LTC's debt to equity ratio (83.5%) is considered high.
Reducing Debt: LTC's debt to equity ratio has reduced from 86.8% to 83.5% over the past 5 years.
Debt Coverage: LTC's debt is not well covered by operating cash flow (17.9%).
Interest Coverage: LTC's interest payments on its debt are well covered by EBIT (3x coverage).
Balance Sheet
Next Steps
Dividend
What is LTC Properties's current dividend yield, its reliability and sustainability?
5.52%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: LTC's dividend (5.52%) is higher than the bottom 25% of dividend payers in the US market (1.34%).
High Dividend: LTC's dividend (5.52%) is in the top 25% of dividend payers in the US market (3.75%)
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 (95.5%), 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 (77% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
0.9yrs
Average management tenure
CEO
Wendy Simpson (71 yo)
13.92yrs
Tenure
US$4,161,603
Compensation
Ms. Wendy L. Simpson has been the Chief Executive Officer of LTC Properties Inc. since October 2005 and served as its President since March 2007 until May 26, 2020. Ms. Simpson served as the Chief Financia...
CEO Compensation Analysis
Compensation vs Market: Wendy's total compensation ($USD4.16M) is about average for companies of similar size in the US market ($USD3.68M).
Compensation vs Earnings: Wendy's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 13.92yrs | US$4.16m | 0.97% $ 15.9m | |
| CFO, Co-President & Corporate Secretary | 0.75yr | US$2.17m | 0.33% $ 5.4m | |
| Chief Investment Officer & Co-President | 0.75yr | US$2.17m | 0.31% $ 5.0m | |
| Executive VP | 0.92yr | US$1.24m | 0.095% $ 1.5m | |
| Vice President of Marketing & Investor Relations | 0.83yr | no data | no data | |
| Human Resource Manager | no data | no data | no data | |
| Executive VP & MD of Business Development | 6.08yrs | no data | no data | |
| Senior Vice President of Asset Management | 3.5yrs | no data | no data | |
| VP & Controller | 0.58yr | no data | no data | |
| Vice President & Director of Tax | 20.67yrs | US$268.79k | no data |
0.9yrs
Average Tenure
54yo
Average Age
Experienced Management: LTC's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 13.92yrs | US$4.16m | 0.97% $ 15.9m | |
| Independent Director | 11.58yrs | US$185.00k | 0.10% $ 1.6m | |
| Independent Director | 20.75yrs | US$185.00k | 0.098% $ 1.6m | |
| Lead Independent Director | 11.08yrs | US$195.00k | 0.052% $ 854.5k | |
| Independent Director | 6.92yrs | US$180.00k | 0.066% $ 1.1m |
11.1yrs
Average Tenure
73yo
Average Age
Experienced Board: LTC's board of directors are seasoned and experienced ( 11.1 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$1.632b
- Shares outstanding: 39.24m
- 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 i...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/02/23 23:27 |
| End of Day Share Price | 2021/02/23 00:00 |
| Earnings | 2020/12/31 |
| 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.