LTC Properties, Inc. (NYSE:LTC) to Issue Monthly Dividend of $0.19

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Monday, April 1st, Wall Street Journal reports. Shareholders of record on Thursday, June 20th will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, June 28th. This represents a $2.28 annualized dividend and a yield of 6.77%. The ex-dividend date is Thursday, June 20th.

LTC Properties has a payout ratio of 121.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

Shares of NYSE LTC opened at $33.66 on Tuesday. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $33.43 and its two-hundred day moving average is $32.60. The company has a market cap of $1.46 billion, a P/E ratio of 17.53 and a beta of 0.89. LTC Properties has a 12 month low of $30.30 and a 12 month high of $35.72.

Insiders Place Their Bets

In other news, Director Timothy Triche sold 3,082 shares of LTC Properties stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $97,606.94. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

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.