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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.19 per share by the real estate investment trust on Monday, March 31st. This represents a $2.28 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend is Friday, March 21st.

LTC Properties has a payout ratio of 112.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

LTC stock opened at $34.27 on Friday. LTC Properties has a one year low of $30.30 and a one year high of $39.89. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 14.71 and a beta of 0.93. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The firm has a 50-day simple moving average of $37.18 and a two-hundred day simple moving average of $36.36.

LTC Properties (NYSE:LTC) last posted its earnings results 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). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. During the same period in the previous year, the company earned $0.65 EPS. The company’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts forecast that LTC Properties will post 2.79 EPS for the current fiscal year.

Insider Transactions at LTC Properties

In other LTC Properties news, Director David L. Gruber acquired 3,000 shares of the firm’s stock in a transaction on 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 purchase, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. The trade was a 16.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of the company’s stock in a transaction on 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 directly owns 158,585 shares in the company, valued at $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. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

LTC Properties Company Profile

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.