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

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a dividend on Tuesday, May 20th, investing.com reports. Investors of record on Friday, May 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, May 30th. This represents a yield of 6.31%. The ex-dividend date of this dividend is Thursday, May 22nd.

LTC Properties has decreased its dividend payment by an average of 3.4% annually over the last three years. 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 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

LTC traded up $0.41 during trading on Friday, hitting $35.26. The company's stock had a trading volume of 334,068 shares, compared to its average volume of 312,730. 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 $31.70 and a twelve month high of $39.89. The business's fifty day simple moving average is $35.14 and its 200 day simple moving average is $35.55. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 15.13 and a beta of 0.68.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. During the same period in the previous year, the business posted $0.69 earnings per share. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. On average, equities research analysts forecast that LTC Properties will post 2.79 EPS for the current fiscal year.

Institutional Trading of LTC Properties

A hedge fund recently raised its stake in LTC Properties stock. Royal Bank of Canada lifted its position in LTC Properties, Inc. (NYSE:LTC - Free Report) by 37.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,344 shares of the real estate investment trust's stock after acquiring an additional 5,840 shares during the period. Royal Bank of Canada's holdings in LTC Properties were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 69.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on LTC. Wells Fargo & Company dropped their price objective on LTC Properties from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, March 10th. Royal Bank of Canada reissued a "sector perform" rating and issued a $36.00 price objective on shares of LTC Properties in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, LTC Properties has a consensus rating of "Moderate Buy" and an average price target of $38.00.

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.