LTC Properties, Inc. (LTC) To Go Ex-Dividend on August 21st

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Wednesday, July 1st. Investors of record on Friday, August 21st will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, August 31st. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, August 21st.

LTC Properties has a dividend payout ratio of 118.7% 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 $2.67 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 85.4%.

LTC Properties Stock Performance

Shares of LTC opened at $40.07 on Wednesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 14.79 and a beta of 0.56. The company’s fifty day moving average is $39.28 and its 200-day moving average is $38.61. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.58. LTC Properties has a 12 month low of $33.64 and a 12 month high of $43.00.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The firm had revenue of $98.08 million during the quarter, compared to analysts’ expectations of $79.01 million. During the same period in the prior year, the company posted $0.68 earnings per share. LTC Properties’s revenue for the quarter was up 63.6% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Equities analysts expect that LTC Properties will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada raised LTC Properties from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $41.00 to $45.00 in a research report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of LTC Properties in a report on Wednesday, August 5th. Nomura raised LTC Properties to a “neutral” rating in a report on Friday. Wells Fargo & Company lifted their target price on shares of LTC Properties from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Cantor Fitzgerald decreased their price target on LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.40.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.