LTC Properties, Inc. (LTC) to Issue Monthly Dividend of $0.19 on March 31st

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Monday, January 6th,Wall Street Journal reports. Shareholders 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 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. Equities 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 Up 2.0 %

Shares of NYSE:LTC opened at $34.12 on Wednesday. LTC Properties has a 1 year low of $30.30 and a 1 year high of $39.89. The stock has a 50-day simple moving average of $37.05 and a 200-day simple moving average of $36.40. The stock 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 data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The firm had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. Equities analysts forecast that LTC Properties will post 2.79 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on LTC. Wells Fargo & Company restated an “equal weight” rating and set a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th. Finally, JMP Securities upgraded LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Tuesday.

Insiders Place Their Bets

In other news, Director David L. Gruber bought 3,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the acquisition, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 158,585 shares of the company’s stock, valued at $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.