LTC Properties, Inc. (LTC) To Go Ex-Dividend on January 23rd

LTC Properties, Inc. (NYSE:LTC) announced a dividend on Tuesday, January 21st,investing.com reports. Investors of record on Friday, January 24th 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 6.45%. The ex-dividend date is Thursday, January 23rd.

LTC Properties has a dividend 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 Trading Up 1.2 %

Shares of LTC stock traded up $0.42 on Tuesday, hitting $35.35. The stock had a trading volume of 246,487 shares, compared to its average volume of 303,290. 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 $30.30 and a twelve month high of $39.89. The company has a fifty day moving average price of $36.32 and a two-hundred day moving average price of $36.41. The firm has a market cap of $1.60 billion, a P/E ratio of 15.17 and a beta of 0.93.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) 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 business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. LTC Properties’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts forecast that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at LTC Properties

In other LTC Properties news, Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction dated 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 directly owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction that occurred 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 transaction, the insider now owns 158,585 shares of the company’s stock, valued at $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.