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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Monday, January 6th,Wall Street Journal reports. Investors of record on Friday, March 21st will be given a dividend of 0.19 per share by the real estate investment trust on Monday, March 31st. This represents a $2.28 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Friday, March 21st.

LTC Properties has a payout ratio of 113.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 0.7 %

Shares of LTC Properties stock opened at $34.27 on Monday. 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 has a 52 week low of $30.30 and a 52 week high of $39.89. The stock has a 50 day moving average price of $37.18 and a two-hundred day moving average price of $36.38. The stock has a market capitalization of $1.55 billion, a PE ratio of 14.71 and a beta of 0.93.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data 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 company had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. During the same period in the prior year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts anticipate that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David L. Gruber purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the purchase, the director now owns 21,516 shares of the company’s stock, valued at $799,534.56. The trade was a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction dated Thursday, November 7th. The stock was 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 $6,145,168.75. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

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

About LTC Properties

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.