LTC Properties, Inc. (LTC) To Go Ex-Dividend on March 21st

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Monday, January 6th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Friday, March 21st.

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 115.7% meaning 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 Price Performance

Shares of NYSE LTC opened at $35.62 on Wednesday. The stock has a fifty day simple moving average of $34.76 and a two-hundred day simple moving average of $36.06. LTC Properties has a 1-year low of $31.14 and a 1-year high of $39.89. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 15.29 and a beta of 0.96. 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) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $45.25 million. Analysts anticipate that LTC Properties will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LTC. JMP Securities raised 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. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their price target on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th.

About LTC Properties

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.