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

LTC Properties, Inc. (NYSE:LTC) declared a jan 25 dividend on Thursday, January 2nd,RTT News reports. Stockholders of record on Thursday, January 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 6.7%. The ex-dividend date of this dividend is Thursday, January 23rd.

LTC Properties has a dividend payout ratio of 112.9% 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 Performance

LTC opened at $34.27 on Friday. 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 12-month low of $30.30 and a 12-month high of $39.89. The firm has a 50 day moving average of $37.18 and a two-hundred day moving average of $36.36. The firm has a market capitalization of $1.55 billion, a PE ratio of 14.71 and a beta of 0.93.

LTC Properties (NYSE:LTC) last released 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 return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts anticipate that LTC Properties will post 2.79 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on LTC. Wells Fargo & Company reiterated 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. Wedbush reiterated an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th.

Insider Activity

In related 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 transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David L. Gruber purchased 3,000 shares of LTC Properties stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the transaction, the director now owns 21,516 shares of the company’s stock, valued at $799,534.56. The trade was a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

LTC Properties Company Profile

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.