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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Investors of record on Friday, March 21st will be paid 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 dividend yield of 6.65%. The ex-dividend date of this dividend is Friday, March 21st.

LTC Properties has a dividend payout ratio of 112.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 0.7 %

LTC Properties stock traded up $0.24 during mid-day trading on Friday, reaching $34.27. 278,269 shares of the company’s stock were exchanged, compared to its average volume of 263,984. The company has a fifty day moving average of $37.20 and a 200-day moving average of $36.36. The company has a market cap of $1.55 billion, a P/E ratio of 14.71 and a beta of 0.91. 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 twelve month low of $30.30 and a twelve month high of $39.89.

LTC Properties (NYSE:LTC) last announced 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 net margin of 48.77% and a return on equity of 10.49%. The company 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 business posted $0.65 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. Sell-side analysts expect that LTC Properties will post 2.79 EPS for the current year.

Analyst Upgrades and Downgrades

LTC has been the subject of a number of analyst reports. Wells Fargo & Company reissued an “equal weight” rating and set a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a report on Friday, September 20th.

Insider Transactions at LTC Properties

In other news, Director David L. Gruber bought 3,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the transaction, the director now owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clint B. Malin sold 6,000 shares of the business’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 directly owns 158,585 shares of the company’s stock, valued at $6,145,168.75. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.