LTC Properties, Inc. (NYSE:LTC – Get Free Report) announced a monthly dividend on Monday, July 1st, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date is Friday, September 20th.
LTC Properties has a payout ratio of 121.9% 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 $2.70 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 Stock Performance
Shares of LTC opened at $37.30 on Thursday. The firm has a market capitalization of $1.62 billion, a P/E ratio of 19.43 and a beta of 0.91. LTC Properties has a 52 week low of $30.30 and a 52 week high of $38.28. The stock has a 50 day moving average price of $36.45 and a two-hundred day moving average price of $34.34. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.29 and a current ratio of 11.29.
Insider Activity at LTC Properties
In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available at the SEC website. In other LTC Properties news, Director David L. Gruber purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $35.75 per share, with a total value of $214,500.00. Following the completion of the transaction, the director now owns 18,412 shares of the company’s stock, valued at approximately $658,229. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. The disclosure for this sale 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.
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