LTC Properties, Inc. (NYSE:LTC) Plans Jan 25 Dividend of $0.19

LTC Properties, Inc. (NYSE:LTC) announced a jan 25 dividend on Thursday, January 2nd,RTT News reports. Shareholders of record on Thursday, January 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st.

LTC Properties has a dividend payout ratio of 112.9% 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 $2.72 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 down $0.30 during midday trading on Thursday, reaching $34.25. 27,080 shares of the company were exchanged, compared to its average volume of 286,116. The firm’s 50-day simple moving average is $37.24 and its 200-day simple moving average is $36.37. LTC Properties has a 1 year low of $30.30 and a 1 year high of $39.89. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 14.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60.

LTC Properties (NYSE:LTC) last issued 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). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. During the same quarter last year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts anticipate that LTC Properties will post 2.79 EPS for the current year.

Insiders Place Their Bets

In other news, Director David L. Gruber bought 3,000 shares of LTC Properties stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the purchase, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the sale, the insider now directly owns 158,585 shares in the company, 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 corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th.

About LTC Properties

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.