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

Key Points

• LTC Properties declared a monthly dividend of $0.19 per share, equivalent to $2.28 annually and a 5.3% yield. Shareholders of record on December 23 will be paid on December 31.
• The dividend currently exceeds earnings, with a 118.7% payout ratio, though analysts expect next year’s earnings to reduce the projected payout ratio to 78.9%.
• LTC’s latest quarterly results beat expectations, reporting $0.56 in adjusted EPS and $98.08 million in revenue, while analysts maintain a “Moderate Buy” consensus and an average price target of $45.33.

LTC Properties, Inc. (NYSE:LTC - Get Free Report) declared a monthly dividend on Thursday, October 1st. Shareholders of record on Wednesday, December 23rd will be paid a dividend of $0.19 per share by the real estate investment trust on Thursday, December 31st. This represents a $2.28 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Wednesday, December 23rd.

LTC Properties has a payout ratio of 118.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect LTC Properties to earn $2.89 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 78.9%.

LTC Properties Trading Down 0.5%

Shares of LTC Properties stock traded down $0.20 during trading on Thursday, hitting $42.67. The stock had a trading volume of 633,217 shares, compared to its average volume of 487,474. The stock has a 50 day simple moving average of $41.24 and a 200 day simple moving average of $39.35. The company has a market capitalization of $2.30 billion, a PE ratio of 15.75 and a beta of 0.58. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.58. LTC Properties has a 1 year low of $33.64 and a 1 year high of $43.60.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The business had revenue of $98.08 million during the quarter, compared to the consensus estimate of $79.01 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm's quarterly revenue was up 63.6% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, research analysts expect that LTC Properties will post 2.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on LTC Properties from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, September 1st. Royal Bank Of Canada upgraded LTC Properties from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $41.00 to $45.00 in a report on Friday, August 14th. Nomura raised LTC Properties to a "neutral" rating in a research report on Friday, August 14th. Weiss Ratings downgraded LTC Properties from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, September 24th. Finally, Citigroup restated a "market outperform" rating on shares of LTC Properties in a research report on Wednesday, June 10th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, LTC Properties presently has an average rating of "Moderate Buy" and an average target price of $45.33.

About LTC Properties

LTC Properties, Inc NYSE: LTC is a real estate investment trust that invests in healthcare-related properties. The company focuses primarily on senior housing and healthcare real estate, including assisted living, memory care, independent living and skilled nursing facilities.

LTC supports its portfolio through a range of investment structures, including property acquisitions, long-term leases, mortgage loans, mezzanine financing, preferred equity investments and joint ventures. Its properties are generally operated by third-party healthcare providers under lease or other investment arrangements.

Founded in 1992, LTC Properties serves markets across the United States.

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