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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, July 1st, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date is Friday, September 20th.

LTC Properties has a dividend payout ratio of 121.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect LTC Properties to earn $2.70 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 84.4%.

LTC Properties Trading Down 1.2 %

Shares of LTC opened at $37.27 on Wednesday. LTC Properties has a twelve month low of $30.30 and a twelve month high of $38.28. The stock has a market cap of $1.62 billion, a PE ratio of 19.41 and a beta of 0.91. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $36.40 and its 200-day moving average price is $34.32.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The firm had revenue of $50.12 million for the quarter, compared to analysts’ expectations of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. On average, equities analysts forecast that LTC Properties will post 2.69 EPS for the current fiscal year.

Insider Buying and Selling at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the transaction, the director now directly owns 34,522 shares in the company, valued at $1,258,326.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director David L. Gruber bought 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the transaction, the director now directly owns 18,412 shares of the company’s stock, valued at approximately $658,229. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the sale, the director now directly owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. The disclosure for this sale can be found here. 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.