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

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

LTC Properties has a dividend 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. Equities 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 Price Performance

NYSE:LTC traded down $0.30 during trading hours on Thursday, hitting $34.25. 27,080 shares of the stock were exchanged, compared to its average volume of 286,116. The company has a market cap of $1.55 billion, a P/E ratio of 14.70 and a beta of 0.91. The firm’s fifty day moving average price is $37.24 and its 200 day moving average price is $36.37. LTC Properties has a 52-week low of $30.30 and a 52-week high of $39.89. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $35.45 million. During the same period in the prior year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts anticipate that LTC Properties will post 2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director David L. Gruber acquired 3,000 shares of LTC Properties stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the transaction, the director now owns 21,516 shares of the company’s stock, valued at $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the insider now owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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.