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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Monday, January 6th,Wall Street Journal reports. Shareholders 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 yield of 6.82%. The ex-dividend date is Friday, March 21st.

LTC Properties has a payout ratio of 113.4% meaning 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 Price Performance

Shares of LTC stock opened at $33.42 on Tuesday. The stock’s fifty day simple moving average is $37.13 and its 200 day simple moving average is $36.40. LTC Properties has a one year low of $30.30 and a one year high of $39.89. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 14.34 and a beta of 0.93. 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 released its quarterly earnings results 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 net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same quarter last year, the firm earned $0.65 earnings per share. LTC Properties’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts expect that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wedbush reissued 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 previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

Insider Activity

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David L. Gruber bought 3,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average price of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. The trade was a 16.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

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.