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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Friday, October 4th, Wall Street Journal reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, November 29th. This represents a $2.28 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend is Thursday, November 21st.

LTC Properties has a 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 $2.70 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 Down 0.1 %

NYSE:LTC traded down $0.05 during mid-day trading on Friday, reaching $35.86. The stock had a trading volume of 152,315 shares, compared to its average volume of 281,250. The stock has a market cap of $1.56 billion, a P/E ratio of 18.68 and a beta of 0.91. The business’s 50 day moving average is $36.42 and its 200 day moving average is $34.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $38.28.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.22). LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The business had revenue of $50.12 million for the quarter, compared to analyst estimates of $33.47 million. During the same quarter last year, the company earned $0.66 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that LTC Properties will post 2.69 earnings per share for the current year.

Insider Transactions at LTC Properties

In other news, Director David L. Gruber acquired 6,000 shares of LTC Properties stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the completion of the purchase, the director now directly owns 18,412 shares of the company’s stock, valued at approximately $658,229. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other LTC Properties news, Director David L. Gruber purchased 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the purchase, the director now owns 18,412 shares in the company, valued at approximately $658,229. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 target price (up previously from $36.00) on shares of LTC Properties in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a research note on Friday, September 20th.

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.