LTC Properties, Inc. (NYSE:LTC) Announces Monthly Dividend of $0.19

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Friday, April 4th, Wall Street Journal reports. Shareholders of record on Friday, June 20th will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, June 30th. This represents a $2.28 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend is Friday, June 20th.

LTC Properties has decreased its dividend payment by an average of 3.4% annually 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. 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

Shares of LTC Properties stock opened at $34.64 on Friday. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The firm has a fifty day simple moving average of $34.94 and a 200-day simple moving average of $35.91. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 14.86 and a beta of 0.96. LTC Properties has a 1-year low of $31.14 and a 1-year high of $39.89.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. The firm had revenue of $34.81 million during the quarter, compared to analyst estimates of $45.25 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. On average, sell-side analysts expect that LTC Properties will post 2.79 earnings per share for the current year.

Analysts Set New Price Targets

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