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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Monday, January 6th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date of this dividend is Friday, March 21st.

LTC Properties has a dividend payout ratio of 113.4% 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

LTC stock opened at $34.12 on Wednesday. The company has a fifty day moving average price of $37.05 and a 200-day moving average price of $36.40. LTC Properties has a 52-week low of $30.30 and a 52-week high of $39.89. The company has a market capitalization of $1.54 billion, a P/E ratio of 14.64 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.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (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 business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same period last year, the firm posted $0.65 earnings per share. LTC Properties’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts expect that LTC Properties will post 2.79 EPS for the current year.

Insider Buying and Selling

In other news, Director David L. Gruber bought 3,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the purchase, the director now directly owns 21,516 shares of the company’s stock, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clint B. Malin sold 6,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 158,585 shares in the company, 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 currently owned by insiders.

Analyst Ratings Changes

LTC has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th. Wells Fargo & Company reissued 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. Finally, JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Tuesday.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.