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

LTC Properties, Inc. (NYSE:LTC) declared a apr 25 dividend on Tuesday, April 1st, RTT News reports. Shareholders of record on Tuesday, April 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, April 30th.

LTC Properties has decreased its dividend payment by an average of 3.4% annually over the last three years. LTC Properties has a dividend payout ratio of 119.4% 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

NYSE LTC opened at $35.31 on Thursday. The firm has a market cap of $1.60 billion, a P/E ratio of 15.15 and a beta of 0.96. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The company’s 50 day moving average is $34.91 and its 200-day moving average is $35.93. LTC Properties has a 12-month low of $31.14 and a 12-month high of $39.89.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. The business had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $45.25 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. Sell-side analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company decreased their price target on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Finally, JMP Securities upgraded shares of 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.

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.