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LTC

LTC PropertiesNYSE:LTC Stock Report

Last Price

US$36.70

Market Cap

US$1.4b

7D

3.2%

1Y

-10.9%

Updated

17 Jan, 2022

Data

Company Financials +
LTC fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance1/6
Financial Health2/6
Dividends6/6

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

Welltower

NYSE:WELL

US$38.1b

Healthpeak Properties

NYSE:PEAK

US$19.7b

Medical Properties Trust

NYSE:MPW

US$14.4b

Omega Healthcare Investors

NYSE:OHI

US$7.8b

Price History & Performance

Summary of all time highs, changes and price drops for LTC Properties
Historical stock prices
Current Share PriceUS$36.70
52 Week HighUS$44.73
52 Week LowUS$31.36
Beta0.97
1 Month Change7.12%
3 Month Change6.50%
1 Year Change-10.90%
3 Year Change-17.31%
5 Year Change-23.17%
Change since IPO267.00%

Recent News & Updates

Oct 29

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

LTCUS REITsUS Market
7D3.2%-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

Is LTC's price volatile compared to industry and market?
LTC volatility
LTC Average Weekly Movement4.2%
REITs Industry Average Movement3.9%
Market Average Movement6.6%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.4%

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

FoundedEmployeesCEOWebsite
199224Wendy Simpsonhttps://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

How do LTC Properties's earnings and revenue compare to its market cap?
LTC fundamental statistics
Market CapUS$1.45b
Earnings (TTM)US$60.17m
Revenue (TTM)US$161.75m

24.0x

P/E Ratio

8.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
LTC income statement (TTM)
RevenueUS$161.75m
Cost of RevenueUS$19.47m
Gross ProfitUS$142.28m
ExpensesUS$82.11m
EarningsUS$60.17m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.53
Gross Margin87.97%
Net Profit Margin37.20%
Debt/Equity Ratio87.9%

How did LTC perform over the long term?

See historical performance and comparison

Dividends

6.2%

Current Dividend Yield

96%

Payout Ratio

Does LTC pay a reliable dividends?

See LTC dividend history and benchmarks
When do you need to buy LTC by to receive an upcoming dividend?
LTC Properties dividend dates
Ex Dividend DateJan 20 2022
Dividend Pay DateJan 31 2022
Days until Ex dividend2 days
Days until Dividend pay date13 days

Does LTC pay a reliable dividends?

See LTC dividend history and benchmarks

Valuation

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

TodayJan 18 2022Ex Dividend DateJan 20 2022Dividend Pay DateJan 31 202211 days from Ex DividendBuy in the next 2 days to receive the upcoming dividend

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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/17 23:28
End of Day Share Price2022/01/14 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.