LTC Properties, Inc. Plans Jan 25 Dividend of $0.19 (NYSE:LTC)

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a jan 25 dividend on Thursday, January 2nd,RTT News reports. Investors of record on Thursday, January 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st.

LTC Properties has a dividend payout ratio of 112.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 stock traded down $0.52 during midday trading on Thursday, hitting $34.03. 249,746 shares of the stock were exchanged, compared to its average volume of 286,116. The stock's 50-day moving average price is $37.24 and its 200-day moving average price is $36.37. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 14.61 and a beta of 0.91. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $39.89.

LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.05). The firm had revenue of $55.78 million during the quarter, compared to analysts' expectations of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Research analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LTC. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reaffirmed an "outperform" rating and issued a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th.

Insiders Place Their Bets

In related news, insider Clint B. Malin sold 6,000 shares of the stock in a transaction dated 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 directly owns 158,585 shares in the company, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David L. Gruber purchased 3,000 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the purchase, the director now owns 21,516 shares in the company, valued at $799,534.56. The trade was 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.

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.