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

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Shareholders of record on Friday, June 20th will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, June 30th. This represents a $2.28 dividend on an annualized basis and a yield of 6.96%. 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. 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

Shares of NYSE:LTC traded down $0.76 during midday trading on Tuesday, hitting $32.77. The company had a trading volume of 366,780 shares, compared to its average volume of 300,561. LTC Properties has a 12-month low of $31.14 and a 12-month high of $39.89. The company has a fifty day moving average of $34.85 and a two-hundred day moving average of $35.82. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 14.06 and a beta of 0.74. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60.

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. The firm had revenue of $34.81 million for the quarter, compared to analysts' expectations of $45.25 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. On average, equities research analysts expect that LTC Properties will post 2.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective 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 research note 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.

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.