LTC Properties, Inc. Plans Jan 25 Dividend of $0.19 (NYSE:LTC)

LTC Properties, Inc. (NYSE:LTC) announced a jan 25 dividend on Thursday, January 2nd,RTT News reports. Investors of record on Thursday, January 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st.

LTC Properties has a payout ratio of 112.9% meaning 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 $2.72 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 83.8%.

LTC Properties Trading Down 1.5 %

LTC opened at $34.03 on Friday. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 14.61 and a beta of 0.91. The company’s 50 day simple moving average is $37.20 and its two-hundred day simple moving average is $36.36. LTC Properties has a 1-year low of $30.30 and a 1-year high of $39.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The company had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. Analysts expect that LTC Properties will post 2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other LTC Properties news, Director David L. Gruber purchased 3,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the acquisition, the director now owns 21,516 shares in the company, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the sale, the insider now owns 158,585 shares in the company, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LTC shares. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 target price (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

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.