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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, July 1st, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date is Friday, September 20th.

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. 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 LTC opened at $37.30 on Thursday. The firm has a market capitalization of $1.62 billion, a P/E ratio of 19.43 and a beta of 0.91. LTC Properties has a 52 week low of $30.30 and a 52 week high of $38.28. The stock has a 50 day moving average price of $36.45 and a two-hundred day moving average price of $34.34. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.29 and a current ratio of 11.29.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The company had revenue of $50.12 million during the quarter, compared to analysts’ expectations of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. Equities analysts forecast that LTC Properties will post 2.69 earnings per share for the current fiscal year.

Insider Activity at LTC Properties

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

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.