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

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a dividend on Wednesday, July 16th, investing.com reports. Investors of record on Thursday, July 24th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, July 31st. This represents a dividend yield of 6.47%. The ex-dividend date of this dividend is Wednesday, July 23rd.

LTC Properties has a dividend payout ratio of 118.8% indicating that 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 Price Performance

Shares of LTC stock traded up $0.12 on Friday, hitting $34.97. 400,290 shares of the company's stock were exchanged, compared to its average volume of 322,698. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.55 and a quick ratio of 10.55. LTC Properties has a 12 month low of $31.70 and a 12 month high of $39.89. The stock has a market cap of $1.61 billion, a P/E ratio of 18.03 and a beta of 0.65. The company has a 50 day moving average of $35.21 and a 200 day moving average of $34.97.

LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $49.03 million for the quarter, compared to the consensus estimate of $44.43 million. LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. LTC Properties's quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. On average, equities research analysts predict that LTC Properties will post 2.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on LTC. Wedbush upgraded LTC Properties to a "strong-buy" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $36.00 target price on shares of LTC Properties in a research report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $38.00.

Insider Buying and Selling at LTC Properties

In related news, EVP David M. Boitano purchased 6,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $34.71 per share, with a total value of $208,260.00. Following the completion of the purchase, the executive vice president owned 15,626 shares in the company, valued at approximately $542,378.46. This represents a 62.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On LTC Properties

An institutional investor recently raised its position in LTC Properties stock. Royal Bank of Canada increased its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 37.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,344 shares of the real estate investment trust's stock after purchasing an additional 5,840 shares during the period. Royal Bank of Canada's holdings in LTC Properties were worth $757,000 at the end of the most recent quarter. Institutional investors own 69.25% of the company's stock.

LTC Properties Company Profile

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.