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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Friday, April 4th, Wall Street Journal reports. Stockholders 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 dividend yield of 6.58%. The ex-dividend date of this dividend is Friday, June 20th.

LTC Properties has decreased its dividend payment by an average of 3.4% annually over the last three years. LTC Properties has a dividend payout ratio of 119.4% meaning 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 $2.72 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 Down 2.2 %

Shares of LTC Properties stock opened at $34.64 on Friday. The stock’s 50-day moving average is $34.94 and its 200 day moving average is $35.91. LTC Properties has a one year low of $31.14 and a one year high of $39.89. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 14.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60.

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

Wall Street Analyst Weigh In

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

LTC Properties Company Profile

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.