LTC Properties, Inc. (NYSE:LTC) to Issue $0.19 Apr 25 Dividend

LTC Properties, Inc. (NYSE:LTC) declared a apr 25 dividend on Tuesday, April 1st, RTT News reports. Shareholders of record on Tuesday, April 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, April 30th.

LTC Properties has decreased its dividend payment by an average of 3.4% annually over the last three years. LTC Properties has a payout ratio of 119.4% 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 $2.72 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 traded down $0.07 on Tuesday, hitting $35.39. 19,843 shares of the stock were exchanged, compared to its average volume of 296,795. The business has a 50-day moving average of $34.89 and a two-hundred day moving average of $35.95. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 15.18 and a beta of 0.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. LTC Properties has a 12 month low of $31.14 and a 12 month high of $39.89.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. The company had revenue of $34.81 million for the quarter, compared to the consensus estimate of $45.25 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. Sell-side analysts forecast that LTC Properties will post 2.79 EPS for the current fiscal year.

Analyst Ratings Changes

LTC has been the subject of several research reports. Wells Fargo & Company dropped their target price on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Tuesday, January 7th.

About LTC Properties

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.