LTC Properties, Inc. (LTC) Q2 2024 Earnings Call Transcript
LTC Properties, Inc. (NYSE:LTC ) Q2 2024 Earnings Call July 30, 2024 11:00 AM ET Company Participants Wendy Simpson - President and Chief Executive Officer Clint Malin - Co-President and Chief Investment Officer Pam Kessler - Co-President and Chief Financial Officer Conference Call Participants Juan Sanabria - BMO Capital Markets Austin Wurschmidt - KeyBanc Capital Markets Rich Anderson - Wedbush Michael Carroll - RBC Capital Markets Operator Good day and welcome to the LTC Properties, Inc. Second Quarter 2024 Earnings Call. [Operator Instructions] Before management begins its presentation, please note that today's comments, including the question-and-answer session, may include forward-looking statements subject to risks and uncertainties that may cause actual results and events to differ materially.
LTC Properties (LTC) Misses Q2 FFO and Revenue Estimates
LTC Properties (LTC) came out with quarterly funds from operations (FFO) of $0.65 per share, missing the Zacks Consensus Estimate of $0.66 per share. This compares to FFO of $0.66 per share a year ago.
LTC Properties: A Solid Monthly-Paying REIT That Should Benefit From Aging Baby Boomers
LTC Properties: A Solid Monthly-Paying REIT That Should Benefit From Aging Baby Boomers
LTC Properties: Don't Overlook This Solid Monthly Dividend
Real estate has been undervalued, providing opportunities for value investors to pick up quality REITs at a discount. LTC Properties is a turnaround stock with a 6.4% dividend yield, showing a solid rebound in FFO and improving occupancy rates. With a diversified portfolio, strong financial health, and potential FFO growth, LTC remains an attractive investment for income and value investors.
BlockDAG’s Presale Amassed $28.5M Fueled By Viral Keynote, Surpasses Uniswap Coin & Litecoin (LTC) Price
BlockDAG’s innovative approach and impressive $28.5 million presale have set it apart from the competition. While the Litecoin (LTC) price struggles to maintain the $80 support level and Uniswap Coin faces ongoing challenges, BlockDAG’s viral keynote in Shibuya has captured significant investor interest. Its low-code/no-code smart contract platform for meme coins and NFTs has attracted both developers and investors, making it one of the top crypto coins to watch. BlockDAG’s compatibility with Ethereum’s Virtual Machine and seamless integration with tools like MetaMask further boost its appeal in the rapidly evolving crypto market. Litecoin, often referred to as the “silver to Bitcoin’s gold,” stands as a pioneering cryptocurrency in the digital asset ecosystem. Its recent struggle to maintain the $80 support level highlights the intricacies of digital asset valuation and investor sentiment. In this detailed analysis, we examine Litecoin’s current situation, focusing on key support levels, market trends, and strategic considerations for investors navigating the volatile cryptocurrency landscape. Technical indicators offer valuable insights into market sentiment and potential trend reversals. On-chain data reveals active short-term trading activities, contributing to market volatility. A notable spike in selling from mid-term holders on May 10 suggests a potential shift in sentiment or profit-taking behavior, adding to Litecoin (LTC) price volatility. Uniswap Coin continues to advance in decentralized trading, with $4 billion in swaps through its mobile app. Despite this achievement, the UNI token has struggled, with its price hovering below $7 since a 65% decline from its March peak of $17. Uniswap’s potential support for Layer 3 (L3) assets, possibly integrating protocols like Layer3XYZ, could introduce new tokenomics and decentralized complexities. Despite a slower DeFi season, Uniswap maintains dominance in the DEX market, with over $5.22 billion in value locked and $1.32 billion in daily volumes on Uniswap V3. Technical analysis suggests a potential reversal for UNI, with bullish divergences indicating a price bottom. As of now, UNI trades at approximately $6.82, reflecting a nearly 3% decrease since yesterday. In the competitive world of presale projects, maintaining investor engagement and trust is crucial. BlockDAG has achieved global prominence, earning investor confidence with its impressive developments. A pivotal moment was the viral keynote release in Shibuya, which has been trending in the crypto market. The keynote video showcased BlockDAG’s superior potential compared to other presale coins, boosting its presale to $28.5 million. BlockDAG’s presale surge is not solely due to the keynote. The project has made significant technological advancements, attracting investors and developers alike. One standout feature is the low-code/no-code platform for creating smart contracts. This platform simplifies the process for users to develop utility tokens, meme tokens, and NFTs using pre-designed templates, making it accessible to all levels of developers. BlockDAG’s platform aligns seamlessly with the Ethereum Virtual Machine (EVM), allowing developers to deploy existing Ethereum-based smart contracts effortlessly. This compatibility accelerates project development and provides access to Ethereum’s extensive toolkit and established communities. Additionally, tools like MetaMask and various Web3 tools are directly compatible with the BlockDAG network. BlockDAG’s advancements and growing investor interest underscore its potential as a top contender in the cryptocurrency space. Unlike the fluctuating Litecoin (LTC) price and the challenges faced by Uniswap Coin, BlockDAG’s technological innovations and successful presale position it as a leading crypto coin to watch. With $28.5 million already raised and a platform that simplifies smart contract creation, BlockDAG is poised for significant growth. Investors seeking promising opportunities should closely monitor BlockDAG, as its unique features and strong market performance indicate a bright future ahead. Join BlockDAG Now! Website: Click Here Presale: Click Here Telegram: Click Here Click Here
LTC Properties, Inc. (LTC) to Issue Monthly Dividend of $0.19 on May 31st
LTC Properties, Inc. (NYSE:LTC – Get Free Report) announced a monthly dividend on Monday, April 1st, Wall Street Journal reports. Investors of record on Thursday, May 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, May 31st. This represents a $2.28 annualized dividend and a dividend yield of 6.56%. The ex-dividend date is Wednesday, May 22nd. LTC Properties has a dividend payout ratio of 120.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect LTC Properties to earn $2.70 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 84.4%. LTC Properties Price Performance Shares of NYSE:LTC opened at $34.76 on Monday. The company’s fifty day moving average is $32.63 and its two-hundred day moving average is $32.32. The company has a market cap of $1.51 billion, a P/E ratio of 18.10 and a beta of 0.86. LTC Properties has a 12-month low of $30.30 and a 12-month high of $35.72. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 0.94. Insider Transactions at LTC Properties In related news, Director Timothy Triche sold 3,082 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $97,606.94. Following the completion of the sale, the director now owns 36,343 shares of the company’s stock, valued at approximately $1,150,982.81. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock. Analyst Ratings Changes Separately, Deutsche Bank Aktiengesellschaft assumed coverage on LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.40. View Our Latest Research Report on LTC LTC Properties Company Profile (Get Free Report) 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's investment portfolio includes 201 properties in 26 states with 29 operating partners. See Also Five stocks we like better than LTC Properties 3 Grocery Stocks That Are Proving They Are Still Essential JD’s Earnings Could Mean Chinese Stocks Making a Comeback What is the Shanghai Stock Exchange Composite Index? Canada Goose Flies Higher Driven By DTC Growth How to Evaluate a Stock Before Buying CVS Health Stock Has a Silver Lining Called Value
LTC Properties, Inc. (NYSE:LTC) Shares Sold by Amalgamated Bank
Amalgamated Bank cut its stake in LTC Properties, Inc. (NYSE:LTC – Free Report) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,607 shares of the real estate investment trust’s stock after selling 407 shares during the period. Amalgamated Bank’s holdings in LTC Properties were worth $501,000 as of its most recent SEC filing. Other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its holdings in shares of LTC Properties by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 40,058 shares of the real estate investment trust’s stock worth $1,287,000 after purchasing an additional 317 shares during the period. Sigma Planning Corp grew its stake in LTC Properties by 4.0% during the third quarter. Sigma Planning Corp now owns 8,470 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 327 shares during the period. abrdn plc increased its position in shares of LTC Properties by 4.7% in the third quarter. abrdn plc now owns 8,295 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 369 shares in the last quarter. Private Trust Co. NA raised its stake in shares of LTC Properties by 69.2% in the 4th quarter. Private Trust Co. NA now owns 1,252 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 512 shares during the period. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of LTC Properties by 5.3% during the 3rd quarter. UniSuper Management Pty Ltd now owns 11,900 shares of the real estate investment trust’s stock valued at $382,000 after acquiring an additional 600 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors. Insider Activity In related news, Director Timothy Triche sold 3,082 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $97,606.94. Following the transaction, the director now owns 36,343 shares in the company, valued at $1,150,982.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock. LTC Properties Trading Up 0.3 % NYSE LTC opened at $34.76 on Monday. The stock has a market cap of $1.51 billion, a P/E ratio of 18.10 and a beta of 0.86. The company’s fifty day simple moving average is $32.63 and its 200-day simple moving average is $32.32. The company has a current ratio of 15.86, a quick ratio of 15.86 and a debt-to-equity ratio of 0.94. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $35.72. LTC Properties Announces Dividend The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 20th will be given a $0.19 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.28 dividend on an annualized basis and a yield of 6.56%. LTC Properties’s payout ratio is currently 118.75%. Analyst Ratings Changes Separately, Deutsche Bank Aktiengesellschaft initiated coverage on LTC Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, LTC Properties currently has a consensus rating of “Hold” and a consensus target price of $33.40. Get Our Latest Stock Report on LTC LTC Properties Company Profile (Free Report) 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's investment portfolio includes 201 properties in 26 states with 29 operating partners. Read More Five stocks we like better than LTC Properties Insider Trading – What You Need to Know MarketBeat Week in Review – 5/13 – 5/17 How to Use High Beta Stocks to Maximize Your Investing Profits Take-Two Interactive Software Offers 2nd Chance for Investors How to Know Which Cryptocurrency to Buy: A Guide for Investors Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
