LTC Properties, Inc. (NYSE:LTC) Declares $0.19 Dividend

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 of this dividend 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. 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 Up 1.2 %

Shares of LTC Properties stock traded up $0.42 during trading hours on Tuesday, reaching $35.35. 246,487 shares of the company’s stock were exchanged, compared to its average volume of 303,290. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $39.89. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $36.32 and a two-hundred day moving average of $36.41. The stock has a market cap of $1.60 billion, a P/E ratio of 15.17 and a beta of 0.93.

LTC Properties (NYSE:LTC) last released 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 company had revenue of $55.78 million for 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 company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. On average, sell-side analysts forecast that LTC Properties will post 2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LTC shares. JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday, January 7th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Finally, Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Two investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.75.

Insider Transactions at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the sale, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David L. Gruber bought 3,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the purchase, the director now directly owns 21,516 shares of the company’s stock, valued at $799,534.56. The trade was a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

LTC Properties Company Profile

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.