LTC Properties, Inc. (NYSE:LTC) to Issue $0.19 Dividend

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

LTC Properties has decreased its dividend by an average of 3.4% per year over the last three years. LTC Properties has a 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 Performance

LTC opened at $36.10 on Tuesday. The company has a market cap of $1.66 billion, a PE ratio of 15.49 and a beta of 0.68. The stock has a 50-day moving average of $35.17 and a 200-day moving average of $35.61. LTC Properties has a 52-week low of $31.70 and a 52-week high of $39.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60.

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 firm had revenue of $49.03 million for the quarter, compared to analyst estimates of $44.43 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. LTC Properties's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. As a group, equities research analysts forecast that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LTC. Royal Bank of Canada restated a "sector perform" rating and set a $36.00 target price on shares of LTC Properties in a research report on Monday. Wells Fargo & Company decreased their target price on LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Institutional Inflows and Outflows

An institutional investor recently raised its position in LTC Properties stock. Royal Bank of Canada lifted its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 37.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,344 shares of the real estate investment trust's stock after buying 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 reporting period. Institutional investors and hedge funds 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.

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