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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, July 1st, Zacks reports. Investors of record on Tuesday, July 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, July 31st. This represents a $2.28 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date is Tuesday, July 23rd.

LTC Properties has a payout ratio of 120.6% indicating that 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 $2.70 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 $36.66 on Monday. The firm has a market capitalization of $1.59 billion, a PE ratio of 19.09 and a beta of 0.89. The business has a 50 day simple moving average of $34.46 and a two-hundred day simple moving average of $32.90. LTC Properties has a 1 year low of $30.30 and a 1 year high of $37.14. The company has a debt-to-equity ratio of 0.94, a current ratio of 15.86 and a quick ratio of 15.86.

About LTC Properties

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.