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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Investors of record on Friday, March 21st will be paid 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 6.65%. The ex-dividend date is Friday, March 21st.

LTC Properties has a dividend payout ratio of 112.9% indicating that 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 0.7 %

NYSE:LTC opened at $34.27 on Friday. The company has a market cap of $1.55 billion, a P/E ratio of 14.71 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 business has a 50 day moving average price of $37.18 and a two-hundred day moving average price of $36.36. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

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

Analysts Set New Price Targets

LTC has been the subject of a number of recent research reports. Wells Fargo & Company restated an “equal weight” rating and set a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a research report on Friday, September 20th.

Insider Buying and Selling

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 completion of the transaction, the insider now directly owns 158,585 shares in the company, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David L. Gruber purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the purchase, the director now owns 21,516 shares in the company, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

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.