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

LTC Properties, Inc. (NYSE:LTC) announced a dividend on Tuesday, January 21st,investing.com reports. Shareholders of record on Friday, January 24th will be given a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a yield of 6.45%. The ex-dividend date is Thursday, January 23rd.

LTC Properties has a dividend payout ratio of 114.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Performance

NYSE:LTC traded up $0.42 during mid-day trading on Tuesday, reaching $35.35. 246,487 shares of the company’s stock were exchanged, compared to its average volume of 303,290. 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 has a one year low of $30.30 and a one year high of $39.89. The business’s fifty day simple moving average is $36.32 and its two-hundred day simple moving average is $36.41. The firm has a market capitalization of $1.60 billion, a PE ratio of 15.17 and a beta of 0.93.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same quarter last year, the company posted $0.65 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts anticipate that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company reiterated 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. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.75.

Insider Activity at LTC Properties

In related news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now owns 21,516 shares in the company, valued at $799,534.56. The trade was a 16.20 % increase in their position. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.

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.