LTC Properties, Inc. (LTC) To Go Ex-Dividend on November 21st

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Friday, October 4th, Wall Street Journal reports. Investors of record on Thursday, November 21st will be given a dividend of 0.19 per share by the real estate investment trust on Friday, November 29th. This represents a $2.28 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date is Thursday, November 21st.

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 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 Stock Down 0.2 %

Shares of NYSE:LTC opened at $35.84 on Friday. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1.56 billion, a P/E ratio of 18.67 and a beta of 0.91. LTC Properties has a 12 month low of $30.30 and a 12 month high of $38.28. The company’s 50-day moving average price is $36.38 and its two-hundred day moving average price is $34.71.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.22). LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The company had revenue of $50.12 million for the quarter, compared to the consensus estimate of $33.47 million. During the same period last year, the company earned $0.66 earnings per share. LTC Properties’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that LTC Properties will post 2.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LTC shares. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

Insiders Place Their Bets

In other news, Director Timothy Triche sold 5,000 shares of the stock in a transaction 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 transaction, the director now owns 34,522 shares of the company’s stock, valued at $1,258,326.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director David L. Gruber purchased 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the transaction, the director now directly owns 18,412 shares of the company’s stock, valued at approximately $658,229. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the transaction, the director now owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.