LTC Properties, Inc. (LTC) to Issue Monthly Dividend of $0.19 on November 29th

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Tuesday, October 1st,Wall Street Journal reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.19 per share by the real estate investment trust on Friday, November 29th. This represents a $2.28 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Thursday, November 21st.

LTC Properties has a payout ratio of 114.0% 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 $2.72 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 Price Performance

LTC opened at $38.04 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The stock’s 50 day simple moving average is $36.93 and its 200 day simple moving average is $35.75. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 16.33 and a beta of 0.90. LTC Properties has a 1 year low of $30.30 and a 1 year high of $39.89.

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

Insider Buying and Selling at LTC Properties

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the company’s 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 transaction, the insider now owns 158,585 shares in the company, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy Triche sold 5,000 shares of the firm’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 completion of the transaction, the director now owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. The trade was a 12.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LTC shares. Wells Fargo & Company restated an “equal weight” rating and issued a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th.

LTC Properties Company Profile

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.