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

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

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. 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

Shares of NYSE LTC opened at $34.27 on Friday. The firm has a 50-day simple moving average of $37.18 and a 200-day simple moving average of $36.36. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 14.71 and a beta of 0.93. LTC Properties has a 52 week low of $30.30 and a 52 week high of $39.89.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wedbush reiterated an “outperform” rating and set a $40.00 price objective on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company reiterated an “equal weight” rating and set 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, insider Clint B. Malin sold 6,000 shares of the stock in a transaction that occurred 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. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David L. Gruber purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the purchase, the director now directly 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 disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company 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.