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. Stockholders of record on Friday, January 24th will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a dividend 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 Trading Up 1.2 %

LTC Properties stock traded up $0.42 during midday trading on Tuesday, reaching $35.35. The stock had a trading volume of 246,487 shares, compared to its average volume of 303,290. The stock has a market capitalization of $1.60 billion, a PE ratio of 15.17 and a beta of 0.93. LTC Properties has a twelve month low of $30.30 and a twelve month high of $39.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The stock’s 50-day simple moving average is $36.32 and its 200 day simple moving average is $36.41.

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

Insiders Place Their Bets

In other news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the sale, the insider now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David L. Gruber purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the purchase, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on LTC. JMP Securities raised 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 report on Tuesday, January 7th. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.75.

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.