LTC Properties Inc to Issue Monthly Dividend of $0.19 (NYSE:LTC)

LTC Properties Inc (NYSE:LTC) declared a monthly dividend on Friday, January 3rd, Wall Street Journal reports. Shareholders 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 $2.28 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Wednesday, January 22nd.

LTC Properties has a payout ratio of 108.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect LTC Properties to earn $3.00 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 76.0%.

Shares of LTC opened at $46.72 on Tuesday. The stock’s 50-day moving average is $45.25 and its two-hundred day moving average is $47.84. The stock has a market cap of $1.86 billion, a PE ratio of 18.91, a P/E/G ratio of 3.90 and a beta of 0.29. LTC Properties has a 12 month low of $42.31 and a 12 month high of $53.04. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.06 and a quick ratio of 10.06.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.09). The company had revenue of $38.67 million for the quarter, compared to analyst estimates of $38.94 million. LTC Properties had a return on equity of 12.33% and a net margin of 57.14%. On average, research analysts anticipate that LTC Properties will post 2.98 earnings per share for the current year.

A number of brokerages have commented on LTC. Wells Fargo & Co cut LTC Properties from a “market perform” rating to an “underperform” rating and set a $43.00 price objective on the stock. in a research note on Tuesday, December 10th. Mizuho restated a “neutral” rating and set a $42.00 price objective on shares of LTC Properties in a research note on Friday, December 20th. Capital One Financial cut LTC Properties from an “overweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock. in a research note on Friday, October 25th. Finally, Zacks Investment Research cut LTC Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.83.

About LTC Properties

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 holds more than 200 investments in 28 states with 30 operating partners.

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Dividend History for LTC Properties (NYSE:LTC)

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