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

LTC Properties, Inc. (NYSE:LTC - Get Free Report) declared a monthly dividend on Monday, January 6th,Wall Street Journal reports. Shareholders of record on Friday, March 21st will be given 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 6.82%. The ex-dividend date is Friday, March 21st.

LTC Properties has a payout ratio of 113.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Down 2.5 %

Shares of NYSE:LTC traded down $0.85 on Monday, hitting $33.42. 359,324 shares of the company traded hands, compared to its average volume of 311,630. The company has a market cap of $1.51 billion, a PE ratio of 14.34 and a beta of 0.93. The stock has a 50 day simple moving average of $37.18 and a 200-day simple moving average of $36.38. LTC Properties has a 52 week low of $30.30 and a 52 week high of $39.89. 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 - Get Free Report) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The business had revenue of $55.78 million for 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 business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. As a group, research analysts expect that LTC Properties will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LTC. Wedbush restated an "outperform" rating and set a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th. 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.

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 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 $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 this hyperlink. Also, Director David L. Gruber acquired 3,000 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the purchase, the director now 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 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.