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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, July 1st, Zacks reports. Investors of record on Tuesday, July 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, July 31st. This represents a $2.28 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date is Tuesday, July 23rd.

LTC Properties has a dividend payout ratio of 121.3% 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 $2.70 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 Down 0.2 %

Shares of LTC Properties stock opened at $34.43 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 15.86 and a current ratio of 15.86. The business’s 50 day simple moving average is $33.87 and its 200 day simple moving average is $32.64. The firm has a market cap of $1.50 billion, a PE ratio of 17.93 and a beta of 0.89. LTC Properties has a 52-week low of $30.30 and a 52-week high of $35.72.

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.