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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Stockholders of record on Friday, March 21st will be given a dividend of 0.19 per share by the real estate investment trust on Monday, March 31st. This represents a $2.28 annualized dividend and a dividend yield of 6.65%. The ex-dividend date is Friday, March 21st.

LTC Properties has a payout ratio of 112.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Up 0.7 %

Shares of LTC opened at $34.27 on Friday. The company has a market capitalization of $1.55 billion, a P/E ratio of 14.71 and a beta of 0.93. LTC Properties has a one year low of $30.30 and a one year high of $39.89. The business’s 50 day simple moving average is $37.18 and its 200-day simple moving average is $36.36. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. LTC Properties’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. As a group, sell-side analysts predict that LTC Properties will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LTC. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st.

Insider Activity at LTC Properties

In other LTC Properties news, Director David L. Gruber purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the completion of the transaction, the director now directly owns 21,516 shares in the company, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties 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 owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.