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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, July 1st, Wall Street Journal reports. Shareholders of record on Thursday, August 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, August 30th. This represents a $2.28 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date is Thursday, August 22nd.

LTC Properties has a 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 research 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 Performance

Shares of NYSE:LTC opened at $35.74 on Wednesday. The business’s fifty day moving average price is $35.33 and its two-hundred day moving average price is $33.57. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $38.28. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 15.86.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $33.47 million. During the same quarter last year, the company earned $0.66 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. As a group, analysts predict that LTC Properties will post 2.64 EPS for the current fiscal year.

Insider Transactions at LTC Properties

In other LTC Properties news, Director David L. Gruber bought 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the completion of the acquisition, the director now owns 18,412 shares of the company’s stock, valued at $658,229. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.