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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Monday, January 6th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend is Friday, March 21st.

LTC Properties has decreased its dividend payment by an average of 3.4% per year over the last three years. LTC Properties has a dividend payout ratio of 115.7% 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 $2.72 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 Down 1.0 %

LTC stock opened at $35.62 on Wednesday. LTC Properties has a twelve month low of $31.14 and a twelve month high of $39.89. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.62 billion, a PE ratio of 15.29 and a beta of 0.96. The business has a 50 day moving average of $34.76 and a 200 day moving average of $36.06.

LTC Properties (NYSE:LTC) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. The business had revenue of $34.81 million during the quarter, compared to analyst estimates of $45.25 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. On average, research analysts forecast that LTC Properties will post 2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

LTC Properties Company Profile

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.