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

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Stockholders of record on Friday, March 21st will be paid 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 dividend yield of 6.65%. The ex-dividend date is Friday, March 21st.

LTC Properties has a payout ratio of 112.9% 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 up $0.24 during midday trading on Friday, reaching $34.27. 325,857 shares of the company were exchanged, compared to its average volume of 287,779. The stock has a market cap of $1.55 billion, a P/E ratio of 14.71 and a beta of 0.93. LTC Properties has a 1 year low of $30.30 and a 1 year high of $39.89. The stock has a fifty day simple moving average of $37.18 and a 200 day simple moving average of $36.36. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC - Get Free Report) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.05). The company had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. On average, research analysts forecast that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LTC has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an "equal weight" rating and issued a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush restated an "outperform" rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th.

Insider Buying and Selling

In other news, insider Clint B. Malin sold 6,000 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the completion of the transaction, the insider now owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David L. Gruber acquired 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the transaction, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. This represents 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 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.