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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Friday, January 3rd,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 annualized dividend and a yield of 6.65%. The ex-dividend date is Friday, March 21st.

LTC Properties has a payout ratio of 112.9% 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 Performance

Shares of NYSE:LTC traded up $0.24 on Friday, reaching $34.27. The company’s stock had a trading volume of 278,269 shares, compared to its average volume of 263,984. LTC Properties has a 52-week low of $30.30 and a 52-week high of $39.89. The stock has a market capitalization of $1.55 billion, a P/E ratio of 14.71 and a beta of 0.91. The stock’s 50-day moving average is $37.20 and its two-hundred day moving average is $36.36. 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 data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same period in the previous year, the business posted $0.65 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts forecast that LTC Properties will post 2.79 EPS for the current year.

Analysts Set New Price Targets

LTC has been the subject of several recent research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 price target (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reiterated an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th.

Insider Transactions at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the transaction, the insider now owns 158,585 shares of the company’s stock, valued at $6,145,168.75. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David L. Gruber acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 directly owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The disclosure for this purchase 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.