LTC Properties, Inc. (NYSE:LTC) Declares Apr 25 Dividend of $0.19

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 given 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% per year over the last three years. LTC Properties has a dividend payout ratio of 119.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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

Shares of NYSE:LTC traded down $0.07 during trading on Tuesday, reaching $35.39. The stock had a trading volume of 19,843 shares, compared to its average volume of 296,795. The stock has a market capitalization of $1.61 billion, a PE 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 52 week low of $31.14 and a 52 week high of $39.89. The business’s 50-day moving average price is $34.89 and its 200 day moving average price is $35.95.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. The business 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%. As a group, equities analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LTC shares. Wells Fargo & Company lowered their price target on shares of LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, JMP Securities upgraded LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a 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.