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

LTC Properties, Inc. (NYSE:LTCGet Free Report) announced a monthly dividend on Monday, April 1st, Zacks reports. Investors of record on Monday, April 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, April 30th. This represents a $2.28 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend is Friday, April 19th.

LTC Properties has a payout ratio of 121.9% 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 $2.73 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 83.5%.

LTC Properties Stock Performance

NYSE LTC opened at $32.25 on Tuesday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 14.96 and a beta of 0.87. The business’s 50 day moving average is $31.78 and its two-hundred day moving average is $32.08. LTC Properties has a 12-month low of $30.30 and a 12-month high of $35.72. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.97.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft started coverage on LTC Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.33.

Check Out Our Latest Research Report on LTC Properties

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LTC. BlackRock Inc. raised its position in shares of LTC Properties by 2.4% during the 2nd quarter. BlackRock Inc. now owns 7,570,032 shares of the real estate investment trust’s stock worth $249,962,000 after purchasing an additional 179,321 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of LTC Properties by 1.9% in the third quarter. Vanguard Group Inc. now owns 6,551,223 shares of the real estate investment trust’s stock worth $245,344,000 after acquiring an additional 124,823 shares during the last quarter. State Street Corp lifted its position in shares of LTC Properties by 5.9% in the second quarter. State Street Corp now owns 3,741,901 shares of the real estate investment trust’s stock valued at $143,652,000 after acquiring an additional 208,011 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of LTC Properties by 6.4% during the second quarter. Geode Capital Management LLC now owns 914,475 shares of the real estate investment trust’s stock valued at $30,196,000 after acquiring an additional 54,845 shares during the last quarter. Finally, Northern Trust Corp increased its position in LTC Properties by 20.3% during the 2nd quarter. Northern Trust Corp now owns 626,109 shares of the real estate investment trust’s stock worth $24,037,000 after purchasing an additional 105,704 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Company Profile

(Get Free Report)

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.

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Dividend History for LTC Properties (NYSE:LTC)

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