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

LTC Properties, Inc. (NYSE:LTC) announced a dividend on Tuesday, January 21st,investing.com reports. Investors of record on Friday, January 24th will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 6.45%. The ex-dividend date of this dividend is Thursday, January 23rd.

LTC Properties has a payout ratio of 114.6% 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

LTC Properties stock traded up $0.42 during mid-day trading on Tuesday, reaching $35.35. 246,487 shares of the company were exchanged, compared to its average volume of 303,290. The firm has a market cap of $1.60 billion, a PE ratio of 15.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The company has a fifty day simple moving average of $36.32 and a 200-day simple moving average of $36.41. LTC Properties has a 12 month low of $30.30 and a 12 month high of $39.89.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The company had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, equities research analysts expect that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Insider Activity at LTC Properties

In other news, Director David L. Gruber acquired 3,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the completion of the purchase, the director now directly owns 21,516 shares of the company’s stock, valued at $799,534.56. This represents a 16.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the transaction, the insider now owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LTC has been the subject of a number of recent analyst reports. JMP Securities upgraded 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 report on Tuesday, January 7th. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.75.

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.