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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Friday, April 4th, Wall Street Journal reports. Investors of record on Friday, June 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, June 30th. This represents a $2.28 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend is Friday, June 20th.

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 119.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Up 0.1 %

LTC stock opened at $35.37 on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of 15.18 and a beta of 0.96. 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 twelve month low of $31.14 and a twelve month high of $39.89. The company’s 50 day moving average is $34.94 and its two-hundred day moving average is $35.93.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $34.81 million for the quarter, compared to analyst estimates of $45.25 million. Research 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 analysts recently issued reports on LTC shares. Wells Fargo & Company decreased their target price on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Tuesday, January 7th. Finally, Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th.

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.