LTC Properties, Inc. Plans Monthly Dividend of $0.19 (NYSE:LTC)

by · The Markets Daily

LTC Properties, Inc. (NYSE:LTC – Get Free Report) declared a monthly dividend on Thursday, October 3rd,Wall Street Journal reports. Stockholders of record on Monday, December 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, December 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Monday, December 23rd.

LTC Properties has a dividend payout ratio of 112.9% indicating that 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 stock opened at $35.08 on Friday. The company has a 50 day moving average price of $37.46 and a 200 day moving average price of $36.33. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $39.89. 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 stock has a market capitalization of $1.59 billion, a PE ratio of 15.06 and a beta of 0.91.

LTC Properties (NYSE:LTC – Get Free Report) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. During the same quarter in the previous year, the firm earned $0.65 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. Analysts forecast that LTC Properties will post 2.79 EPS for the current year.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the sale, the insider now directly owns 158,585 shares in the company, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David L. Gruber purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares in the company, valued at $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

LTC has been the topic of a number of research reports. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company restated an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

Check Out Our Latest Stock Analysis on LTC Properties

About LTC Properties

(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.

Recommended Stories