Stock Track | LTC Properties Soars Over 5% After Q3 Earnings Beat Expectations

Stock Track

Oct 30, 2024

Shares of LTC Properties (LTC) surged over 5% on Monday after the healthcare real estate investment trust reported better-than-expected earnings results for the third quarter of 2024.

The company's adjusted funds from operations (AFFO), a key profitability metric for REITs, came in at $0.68 per diluted share for the quarter ended September 30. This represented an increase from $0.65 per share in the year-ago period and matched the $0.68 estimate from analysts polled by Capital IQ.

LTC Properties also posted revenue of $55.8 million for the quarter, up from $49.3 million a year earlier and comfortably beating the consensus analyst forecast of $46 million.

Following the earnings release, LTC's stock initially rose around 2% in after-hours trading on Monday before extending its gains to over 5% by midday on Tuesday.

The strong earnings performance and subsequent stock rally suggest that investors were encouraged by LTC Properties' ability to grow its AFFO and top-line results during the quarter, which likely exceeded market expectations.

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This represented an increase from $0.65 per share in the year-ago period and matched the $0.68 estimate from analysts polled by Capital IQ.</p>\n\n<p>LTC Properties also posted revenue of $55.8 million for the quarter, up from $49.3 million a year earlier and comfortably beating the consensus analyst forecast of $46 million.</p>\n\n<p>Following the earnings release, LTC's stock initially rose around 2% in after-hours trading on Monday before extending its gains to over 5% by midday on Tuesday.</p>\n\n<p>The strong earnings performance and subsequent stock rally suggest that investors were encouraged by LTC Properties' ability to grow its AFFO and top-line results during the quarter, which likely exceeded market expectations.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LTC","symbol_name":"LTC房产","start_time":0,"source_url":"","article_id":"1119411605","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1119411605","pubTimestamp":1730223029,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of LTC Properties  surged over 5% on Monday after the healthcare real estate investment trust reported better-than-expected earnings results for the third quarter of 2024.The company's adjusted funds from operations , a key profitability metric for REITs, came in at $0.68 per diluted share for the quarter ended September 30. 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