[Updated] LTC Properties, Inc. (LTC) waited one hour after the market closed to quietly release an earnings disappointment which they plan to discuss in the morning.  Cogdell Spencer did them one better and waited three hours after the bell to release a more "cautious outlook."  Health care real estate investment trusts and stocks have seen quite a battering along with everything else in the market.  Here's an overview of a series of reported FFO earnings and guidance, and their related Price/Earnings comparisons:

Nationwide Health Properties Inc. (NHP) just reported full year earnings last week and are now trading at a P/E of 8.21.  They did not provide guidance but a consensus of twelve analysts expect modest growth.

HCP, Inc. (HCP) missed earnings expectations, but actually provided guidance.  They now trade at a forward P/E of 9.30.

Ventas, Inc. (VTR) provided guidance two weeks ago and now has a forward P/E of 9.30, which is identical to HCP.  They also expect modest growth.

Cogdell Spencer (CSA) this evening also provided "cautious" forward guidance and is currently trading at a forward P/E of 5.26.  They missed the expectation of six analysts by about a penny and last traded at $6.10 when the market closed.  Analysts were already expecting flat to slightly negative growth which explains the lower P/E.  One year ago they were trading at nearly $20.  However, based on P/E they already seem to be discounted relative to peers, so it might be one to watch out for if it drops.

LTC Properties, Inc., which also reported this evening and missed the quarter by 11% based on recent non-payment of their rental income, is now…