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

LTC Properties, Inc. (NYSE:LTC) announced a dividend on Wednesday, July 16th, investing.com reports. Stockholders of record on Thursday, July 24th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, July 31st. This represents a dividend yield of 6.47%. The ex-dividend date of this dividend is Wednesday, July 23rd.

LTC Properties has a 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. 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 Down 1.3%

Shares of LTC stock opened at $35.22 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 10.55 and a current ratio of 10.55. The firm’s 50-day moving average is $35.26 and its 200-day moving average is $34.96. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 18.15 and a beta of 0.65. LTC Properties has a 52-week low of $31.70 and a 52-week high of $39.89.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). LTC Properties had a net margin of 42.16% and a return on equity of 8.48%. The firm had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. During the same period in the previous year, the company posted $0.69 earnings per share. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. Sell-side analysts predict that LTC Properties will post 2.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LTC. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $36.00 price target on shares of LTC Properties in a research note on Monday, May 19th. Wedbush upgraded shares of LTC Properties to a “strong-buy” rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $38.00.

Insider Buying and Selling at LTC Properties

In other news, EVP David M. Boitano acquired 6,000 shares of the firm’s stock in a transaction dated Friday, June 27th. The stock was bought at an average cost of $34.71 per share, for a total transaction of $208,260.00. Following the completion of the transaction, the executive vice president directly owned 15,626 shares in the company, valued at $542,378.46. This represents a 62.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LTC Properties

An institutional investor recently raised its position in LTC Properties stock. AQR Capital Management LLC lifted its position in shares of LTC Properties, Inc. (NYSE:LTC) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,259 shares of the real estate investment trust’s stock after buying an additional 806 shares during the quarter. AQR Capital Management LLC owned about 0.06% of LTC Properties worth $1,037,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

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.