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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Friday, June 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, June 30th. This represents a $2.28 annualized dividend and a yield of 6.45%. The ex-dividend date is Friday, June 20th.

LTC Properties has decreased its dividend by an average of 3.4% annually over the last three years. LTC Properties has a payout ratio of 119.4% 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 0.1 %

Shares of NYSE:LTC traded up $0.05 on Thursday, hitting $35.37. The company had a trading volume of 278,625 shares, compared to its average volume of 342,401. The firm’s 50-day simple moving average is $34.91 and its two-hundred day simple moving average is $35.93. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 15.18 and a beta of 0.96. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties has a 1 year low of $31.14 and a 1 year high of $39.89.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $45.25 million. Equities analysts anticipate that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

LTC has been the topic of several recent research reports. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their price target on shares of LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Finally, Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th.

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.