LTC Properties, Inc. (LTC) to Issue Monthly Dividend of $0.19 on May 31st

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, April 2nd, Wall Street Journal reports. Stockholders of record on Thursday, May 23rd will be given 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 7.21%. The ex-dividend date is Wednesday, May 22nd.

LTC Properties has a dividend payout ratio of 121.9% indicating that 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 $2.73 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 83.5%.

LTC Properties Price Performance

Shares of LTC stock opened at $31.61 on Thursday. LTC Properties has a 52-week low of $30.30 and a 52-week high of $35.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 13.29 and a current ratio of 13.29. The firm has a market capitalization of $1.36 billion, a P/E ratio of 14.63 and a beta of 0.87. The stock has a 50 day moving average price of $31.78 and a 200 day moving average price of $32.08.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on LTC Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $34.00 price target for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.13.

Institutional Investors Weigh In On LTC Properties

Institutional investors and hedge funds have recently bought and sold shares of the company. Money Concepts Capital Corp increased its holdings in shares of LTC Properties by 3,395.0% in the 4th quarter. Money Concepts Capital Corp now owns 699 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 679 shares during the period. Lazard Asset Management LLC purchased a new position in shares of LTC Properties in the 4th quarter valued at $26,000. Point72 Hong Kong Ltd purchased a new position in shares of LTC Properties in the 2nd quarter valued at $41,000. FMR LLC grew its stake in LTC Properties by 73.3% during the 3rd quarter. FMR LLC now owns 1,168 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 494 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in LTC Properties by 59.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,340 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 869 shares during the last quarter. 69.25% of the stock is owned by institutional investors.

About LTC Properties

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.