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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Shareholders of record on Friday, June 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, June 30th. This represents a $2.28 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend is Friday, June 20th.

LTC Properties has decreased its dividend payment by an average of 3.4% per year over the last three years. LTC Properties has a payout ratio of 119.4% indicating that 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 Price Performance

Shares of NYSE LTC traded up $0.05 during mid-day trading on Thursday, reaching $35.37. 278,625 shares of the company were exchanged, compared to its average volume of 342,401. LTC Properties has a 52 week low of $31.14 and a 52 week high of $39.89. The company’s 50 day moving average price is $34.91 and its 200 day moving average price is $35.93. The stock has a market capitalization of $1.61 billion, a PE ratio of 15.18 and a beta of 0.96. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

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

Analyst Ratings Changes

Several research analysts have commented on LTC shares. JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th.

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.