LTC Properties, Inc. Declares Jan 25 Dividend of $0.19 (NYSE:LTC)

LTC Properties, Inc. (NYSE:LTC) announced a jan 25 dividend on Tuesday, January 21st,investing.com reports. Stockholders of record on Thursday, January 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 6.45%. The ex-dividend date is Thursday, January 23rd.

LTC Properties has a payout ratio of 114.6% 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 Price Performance

NYSE LTC traded up $0.42 on Tuesday, hitting $35.35. The company had a trading volume of 246,487 shares, compared to its average volume of 303,290. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The company’s fifty day moving average price is $36.32 and its 200-day moving average price is $36.41. The company has a market capitalization of $1.60 billion, a PE ratio of 15.17 and a beta of 0.93. LTC Properties has a 12-month low of $30.30 and a 12-month high of $39.89.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $55.78 million during the quarter, compared to analysts’ expectations of $35.45 million. During the same period last year, the company earned $0.65 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David L. Gruber bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the transaction, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This represents a 16.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the completion of the sale, the insider now directly owns 158,585 shares in the company, valued at $6,145,168.75. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LTC has been the subject of several analyst reports. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Tuesday, January 7th. Wells Fargo & Company restated an “equal weight” rating and set a $37.00 target price (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Finally, Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, LTC Properties has an average rating of “Moderate Buy” and a consensus target price of $37.75.

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.