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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Tuesday, October 1st,Wall Street Journal reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.19 per share by the real estate investment trust on Friday, November 29th. This represents a $2.28 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Thursday, November 21st.

LTC Properties has a dividend payout ratio of 114.0% meaning 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 Stock Up 1.4 %

Shares of NYSE LTC opened at $38.57 on Wednesday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 16.55 and a beta of 0.90. The company’s 50-day simple moving average is $36.99 and its 200-day simple moving average is $35.82. 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 52-week low of $30.30 and a 52-week high of $39.89.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $35.45 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Equities analysts predict that LTC Properties will post 2.79 EPS for the current fiscal year.

Insider Transactions at LTC Properties

In related news, insider Clint B. Malin sold 6,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the completion of the sale, the insider now owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the transaction, the director now directly owns 34,522 shares in the company, valued at $1,258,326.90. This trade represents a 12.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

LTC has been the subject of several recent research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price 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.