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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Stockholders 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 dividend 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. 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 Performance

LTC opened at $34.64 on Friday. LTC Properties has a 52-week low of $31.14 and a 52-week 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 business’s 50-day simple moving average is $34.94 and its 200 day simple moving average is $35.91. The firm has a market capitalization of $1.57 billion, a PE ratio of 14.86 and a beta of 0.96.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 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 during the quarter, compared to the consensus estimate of $45.25 million. As a group, sell-side analysts expect that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LTC shares. Wells Fargo & Company cut their target price on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, JMP Securities upgraded 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 research note 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.