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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, July 1st, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, September 30th. This represents a $2.28 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date of this dividend is Friday, September 20th.

LTC Properties has a dividend payout ratio of 121.9% 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 $2.70 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 84.4%.

LTC Properties Price Performance

Shares of LTC Properties stock opened at $37.27 on Wednesday. The firm has a market cap of $1.62 billion, a PE ratio of 19.41 and a beta of 0.91. The company’s fifty day simple moving average is $36.40 and its two-hundred day simple moving average is $34.32. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88. LTC Properties has a 12-month low of $30.30 and a 12-month high of $38.28.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The business had revenue of $50.12 million for the quarter, compared to analysts’ expectations of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, equities analysts expect that LTC Properties will post 2.69 EPS for the current year.

Insider Buying and Selling

In related news, Director David L. Gruber acquired 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the acquisition, the director now owns 18,412 shares of the company’s stock, valued at $658,229. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director David L. Gruber bought 6,000 shares of LTC Properties stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the acquisition, the director now owns 18,412 shares of the company’s stock, valued at $658,229. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by 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.