LTC Properties, Inc. (LTC) To Go Ex-Dividend on June 20th

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Friday, June 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, June 30th. This represents a $2.28 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend is Friday, June 20th.

LTC Properties has decreased its dividend by an average of 3.4% per year over the last three years. LTC Properties has a dividend payout ratio of 119.4% indicating that 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 Price Performance

LTC stock opened at $34.64 on Friday. LTC Properties has a twelve month low of $31.14 and a twelve month high of $39.89. 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 company has a market capitalization of $1.57 billion, a P/E ratio of 14.86 and a beta of 0.96. The business has a 50 day simple moving average of $34.94 and a 200-day simple moving average of $35.91.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $45.25 million. As a group, equities analysts anticipate that LTC Properties will post 2.79 EPS for the current year.

Wall Street Analyst Weigh In

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