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

LTC Properties, Inc. (NYSE:LTC) declared a dividend on Tuesday, January 21st,investing.com reports. Shareholders of record on Friday, January 24th will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a yield of 6.45%. The ex-dividend date of this dividend is Thursday, January 23rd.

LTC Properties has a payout ratio of 114.6% 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 Stock Performance

LTC traded up $0.42 during trading on Tuesday, reaching $35.35. The company’s stock had a trading volume of 246,487 shares, compared to its average volume of 303,290. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The company’s fifty day moving average price is $36.32 and its 200-day moving average price is $36.41. 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 $1.60 billion, a price-to-earnings ratio of 15.17 and a beta of 0.93.

LTC Properties (NYSE:LTC) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $55.78 million during the quarter, compared to analysts’ expectations of $35.45 million. During the same period in the previous year, the company posted $0.65 EPS. LTC Properties’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities analysts forecast that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the completion of the transaction, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. The trade was 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 owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on LTC. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Tuesday, January 7th. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 target price (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.75.

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.