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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, October 1st, Zacks reports. Shareholders of record on Wednesday, October 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Thursday, October 31st. This represents a $2.28 annualized dividend and a yield of 6.40%. The ex-dividend date is Wednesday, October 23rd.

LTC Properties has a dividend payout ratio of 118.1% 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 Performance

LTC Properties stock opened at $35.62 on Tuesday. LTC Properties has a 52 week low of $30.30 and a 52 week high of $38.28. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. The stock has a market cap of $1.55 billion, a P/E ratio of 18.55 and a beta of 0.91. The stock has a 50 day moving average of $36.35 and a 200-day moving average of $35.00.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.22). The firm had revenue of $50.12 million during the quarter, compared to the consensus estimate of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, analysts expect that LTC Properties will post 2.69 EPS for the current fiscal year.

Insider Activity at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the firm’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 sale, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Gruber purchased 6,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the acquisition, the director now owns 18,412 shares of the company’s stock, valued at approximately $658,229. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.