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

Key Points

• LTC Properties, Inc. announced a quarterly dividend of $0.19 per share, with the payment scheduled for October 31st, and an ex-dividend date of October 23rd.
• The company has a dividend payout ratio of 118.8%, indicating reliance on its balance sheet for dividend payments, though future earnings are expected to cover the dividend.
• Equities analysts have upgraded their outlook for LTC Properties, with the stock receiving a consensus rating of "Moderate Buy" and a price target of $38.80.

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a quarterly dividend on Wednesday, October 1st, RTT News reports. Investors of record on Thursday, October 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, October 23rd.

LTC Properties has a dividend payout ratio of 118.8% 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 $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 Up 0.6%

LTC Properties stock opened at $37.07 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06. LTC Properties has a 1-year low of $31.70 and a 1-year high of $39.89. The company has a market cap of $1.71 billion, a PE ratio of 20.37 and a beta of 0.68. The stock's 50 day moving average price is $35.85 and its 200 day moving average price is $35.40.

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The firm had revenue of $30.18 million for the quarter, compared to the consensus estimate of $49.97 million. During the same period in the previous year, the business earned $0.45 earnings per share. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. On average, sell-side analysts predict that LTC Properties will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets raised LTC Properties from an "underperform" rating to a "market perform" rating and set a $39.00 price target on the stock in a research note on Wednesday, September 24th. Wells Fargo & Company boosted their price target on LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Royal Bank Of Canada boosted their price target on LTC Properties from $36.00 to $37.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Cantor Fitzgerald assumed coverage on LTC Properties in a research note on Wednesday. They set a "neutral" rating and a $38.00 price target on the stock. Finally, Wedbush raised LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.80.

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.

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