On 25 March 2020, LTC Properties, Inc. (NYSE: LTC) spotted trading -43.42% off 52-week high price. On the other end, the stock has been noted 22.54% away from the low price over the last 52-weeks. The stock changed 5.19% to recent value of $30.01. The stock transacted 536214 shares during most recent day however it has an average volume of 342.42K shares. The company has 40.16M of outstanding shares and 39.05M shares were floated in the market.
LTC Properties, Inc. (LTC) recently reported operating results for its fourth quarter ended December 31, 2019.
Net income accessible to ordinary stockholders was $12.4M, or $0.31 per diluted share, for the 2019 fourth quarter, contrast with $30.6M, or $0.77 per diluted share, for the same period in 2018. The decrease in net income accessible to ordinary stockholders was primarily Because of a net loss on sale during the 2019 fourth quarter, contrast with a net gain on sale during the same period in 2018, an impairment loss from investment in unconsolidated joint ventures during the 2019 fourth quarter, and one-time non-recurring other income related to the write-off of a contingent lease incentive and related earn-out liability in the previous year, partially offset by higher rental income from acquisitions and completed developments.
Funds from Operations (“FFO”) was $32.4M for the 2019 fourth quarter, contrast with $32.1M for the comparable 2018 period. FFO per diluted ordinary share was $0.81 for the quarters ended December 31, 2019 and 2018. Not Including non-recurring items, FFO per diluted ordinary share was $0.76 and $0.73 for the quarters ended December 31, 2019 and 2018, respectively. The improvement in FFO per diluted ordinary share not including non-recurring items, was primarily Because of higher rental income during the 2019 fourth quarter as discussed above.
LTC completed the following transactions during the fourth quarter of 2019:
- Purchased a 76-unit assisted living/memory care community in Auburn Hills, Michigan and an 80-unit memory care community in Sterling Heights, Michigan for an aggregate purchase price of $19.0M, and entered into a 10-year master lease with an operator new to LTC’s portfolio at an initial cash yield of 7.4%, escalating 2% annually with four, five-year renewal options;
- Sold a hurricane damaged property in Texas and recognized a $2.1M net gain on property insurance proceeds. Additionally, as a result of this transaction, LTC recognized a net loss on sale of $0.8M, resulting in a net gain of $1.3M when combined with insurance proceeds;
- Sold two non-revenue producing properties, a 160-bed skilled nursing center in Arizona and a 140‑unit independent living community in Texas, for an aggregate sales price of $7.3M, recognizing a cumulative loss of $3.8M; and
- Issued senior unsecured notes in the aggregate amount of $100.0M to associates and managed accounts of PGIM, Inc. The notes bear interest at 3.85%, have planned principal payments and mature on October 20, 2031.The proceeds were used to paydown the Company’s unsecured line of credit.
Its earnings per share (EPS) expected to touch remained -48.20% for this year while earning per share for the next 5-years is expected to reach at 4.00%. LTC has a gross margin of 91.00% and an operating margin of 41.30% while its profit margin remained 43.20% for the last 12 months. According to the most recent quarter its current ratio was # ref that represents company’s ability to meet its current financial obligations. The price moved ahead of -20.76% from the mean of 20 days, -31.23% from mean of 50 days SMA and performed -35.76% from mean of 200 days price. Company’s performance for the week was 18.62%, -39.14% for month and YTD performance remained -32.97%.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.