LTC Properties, Inc. (NYSE:LTC) Announces $0.19 Apr 25 Dividend

LTC Properties, Inc. (NYSE:LTC - Get Free Report) declared a apr 25 dividend on Tuesday, April 1st, RTT News reports. Shareholders of record on Tuesday, April 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, April 30th. This represents a dividend yield of 6.5%. The ex-dividend date is Tuesday, April 22nd.

LTC Properties has decreased its dividend by an average of 3.4% per year over the last three years. LTC Properties has a payout ratio of 119.4% 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 Stock Down 2.2 %

Shares of NYSE:LTC traded down $0.77 during midday trading on Friday, hitting $34.64. 481,184 shares of the company's stock were exchanged, compared to its average volume of 299,190. LTC Properties has a 12 month low of $31.14 and a 12 month high of $39.89. The company has a market cap of $1.57 billion, a PE ratio of 14.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The stock has a 50 day moving average price of $34.94 and a 200-day moving average price of $35.91.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $34.81 million during the quarter, compared to the consensus estimate of $45.25 million. On average, sell-side analysts anticipate that LTC Properties will post 2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LTC shares. Citizens Jmp upgraded shares of LTC Properties from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. JMP Securities upgraded LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price objective for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company cut their price target on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, March 10th.

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.