Diversified Healthcare Trust (DHC) vs LTC Properties, Inc. (LTC)

Diversified Healthcare Trust and LTC Properties, Inc. are both Reit Healthcare Facilities companies. LTC Properties, Inc. is the larger, with a market value of $2.3B against $2.0B — 1.2× the size. Diversified Healthcare Trust has negative trailing earnings, so its P/E is not meaningful; LTC Properties, Inc. trades at 15.7×. LTC Properties, Inc. grew revenue faster over the last twelve months: 59.8% against −1.49%. LTC Properties, Inc. has the higher net margin (38.7% vs −17.7%) and the higher return on invested capital (4.16% vs −2.09%). Both pay a dividend; LTC Properties, Inc. yields more (7.44% vs 1.52%). Across the 21 metrics below, LTC Properties, Inc. leads on 16 and Diversified Healthcare Trust on 5.

Valuation

Metric DHC LTC Reit Healthcare Facilities median
P/E n/m 15.67 23.53
P/S 1.30 6.40 5.39
P/B 1.24 1.66 1.88
Price to free cash flow 18.25 n/m 17.82
EV/EBITDA 29.04 16.02 15.62
EV/Sales 3.12 8.52 8.52
Earnings yield (13.65%) 6.38% 2.66%
Free cash flow yield 5.48% (14.98%) 3.37%

Profitability

Metric DHC LTC Reit Healthcare Facilities median
Gross margin 19.74% 100.00% 92.10%
Operating margin (8.57%) 39.78% 21.06%
Net margin (17.73%) 38.73% 10.19%
Free cash flow margin 7.15% (95.93%) 7.91%
Return on equity (15.47%) 11.29% 4.06%
Return on assets (5.91%) 6.78% 2.10%
Return on invested capital (2.09%) 4.16% 1.96%

Growth

Metric DHC LTC Reit Healthcare Facilities median
Revenue growth (TTM) (1.49%) 59.83% 15.71%
EPS growth (last fiscal year) 23.23% 23.53% —
Revenue growth, 5-year CAGR (1.18%) 10.53% 9.60%
Net income growth, 5-year CAGR 0.00% 4.33% 0.00%

Health

Metric DHC LTC Reit Healthcare Facilities median
Debt to equity 1.52 0.58 0.84
Current ratio 4.67 8.60 3.05
Net debt to EBITDA 16.88 5.26 5.50

Dividend

Metric DHC LTC Reit Healthcare Facilities median
Dividend yield 1.52% 7.44% 7.11%
Payout ratio 0.02 1.34 2.85

Size

Metric DHC LTC Reit Healthcare Facilities median
Market cap 1.97b 2.34b 4.18b

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