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, October 3rd, Wall Street Journal reports. Investors of record on Monday, December 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, December 31st. This represents a $2.28 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date is Monday, December 23rd.

LTC Properties has a dividend payout ratio of 121.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect LTC Properties to earn $2.70 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 84.4%.

LTC Properties Trading Down 0.7 %

LTC traded down $0.24 on Thursday, reaching $35.94. 208,204 shares of the company traded hands, compared to its average volume of 281,925. LTC Properties has a one year low of $30.30 and a one year high of $38.28. The firm has a fifty day simple moving average of $36.46 and a two-hundred day simple moving average of $34.66. The company has a market cap of $1.56 billion, a P/E ratio of 18.72 and a beta of 0.91. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88.

LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.22). LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The company had revenue of $50.12 million for the quarter, compared to the consensus estimate of $33.47 million. During the same quarter in the previous year, the business earned $0.66 EPS. The company's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts expect that LTC Properties will post 2.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LTC shares. Wells Fargo & Company reissued an "equal weight" rating and set a $37.00 target price (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday. Wedbush reissued an "outperform" rating and set a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th.

Insider Buying and Selling at LTC Properties

In other news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the transaction, the director now owns 34,522 shares of the company's stock, valued at approximately $1,258,326.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the transaction, the director now owns 34,522 shares of the company's stock, valued at approximately $1,258,326.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David L. Gruber acquired 6,000 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the transaction, the director now owns 18,412 shares in the company, valued at $658,229. The disclosure for this purchase can be found here. Insiders own 2.00% of the company's stock.

About LTC Properties

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.