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

LTC Properties, Inc. (NYSE:LTC) declared a dividend on Tuesday, May 20th, investing.com reports. Investors of record on Friday, May 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, May 30th. This represents a yield of 6.31%. The ex-dividend date of this dividend is Thursday, May 22nd.

LTC Properties has decreased its dividend payment by an average of 3.4% per year over the last three years. LTC Properties has a dividend payout ratio of 118.8% 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

LTC Properties stock opened at $36.10 on Tuesday. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties has a 1-year low of $31.70 and a 1-year high of $39.89. The firm has a 50-day moving average of $35.17 and a 200-day moving average of $35.61. The firm has a market cap of $1.66 billion, a P/E ratio of 15.49 and a beta of 0.68.

LTC Properties (NYSE:LTC) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. During the same period last year, the firm posted $0.69 EPS. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. Sell-side analysts expect that LTC Properties will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in LTC Properties stock. AQR Capital Management LLC increased its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,259 shares of the real estate investment trust’s stock after purchasing an additional 806 shares during the period. AQR Capital Management LLC owned 0.06% of LTC Properties worth $1,037,000 as of its most recent SEC filing. 69.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LTC has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $36.00 price target on shares of LTC Properties in a research report on Monday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.00.

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.