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

Key Points

• LTC Properties, Inc. has announced a dividend of $0.19 per share, with an ex-dividend date of August 21st and a payment date of August 29th.
• The company has a payout ratio of 118.8%, indicating it relies on its balance sheet for dividend payments, but expected future earnings should allow it to cover a $2.28 annual dividend with a projected payout ratio of 83.8%.
• Wall Street analysts have a consensus rating of "Buy" for LTC Properties, with target prices ranging from $37.00 to $43.00, reflecting confidence in the company's financial performance.

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a dividend on Saturday, August 16th, investing.com reports. Shareholders of record on Friday, August 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, August 29th. This represents a dividend yield of 642.0%. The ex-dividend date is Thursday, August 21st.

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. 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 Trading Up 1.4%

Shares of LTC traded up $0.4950 during trading on Thursday, reaching $36.5650. 186,964 shares of the company traded hands, compared to its average volume of 348,101. LTC Properties has a twelve month low of $31.70 and a twelve month high of $39.89. The stock has a market cap of $1.68 billion, a PE ratio of 20.13 and a beta of 0.66. The stock has a 50-day simple moving average of $35.17 and a 200-day simple moving average of $35.12. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.67.

LTC Properties (NYSE:LTC - Get Free Report) last announced 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 net margin of 38.24% and a return on equity of 7.95%. The business had revenue of $30.18 million during the quarter, compared to analysts' expectations of $49.97 million. During the same period last year, the business earned $0.45 earnings per share. The business's revenue for the quarter was up 20.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. On average, analysts anticipate that LTC Properties will post 2.79 earnings per share for the current year.

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.