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

LTC Properties, Inc. (NYSE:LTC - Get Free Report) declared a monthly dividend on Friday, October 4th, Wall Street Journal reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.19 per share by the real estate investment trust on Friday, November 29th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date is Thursday, November 21st.

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 Price Performance

LTC traded down $0.05 during trading on Friday, reaching $35.86. 152,315 shares of the company traded hands, compared to its average volume of 281,250. The company has a market cap of $1.56 billion, a P/E ratio of 18.68 and a beta of 0.91. LTC Properties has a 12-month low of $30.30 and a 12-month high of $38.28. The firm has a fifty day simple moving average of $36.42 and a 200 day simple moving average of $34.67. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.29 and a current ratio of 11.29.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $50.12 million during the quarter, compared to the consensus estimate of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, equities analysts forecast that LTC Properties will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the company's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the transaction, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LTC Properties news, Director David L. Gruber bought 6,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the completion of the purchase, the director now directly owns 18,412 shares of the company's stock, valued at approximately $658,229. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the sale, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.

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