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

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 given a dividend of 0.19 per share by the real estate investment trust on Friday, August 29th. This represents a yield of 642.0%. The ex-dividend date is Thursday, August 21st.

LTC Properties has a 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. 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 $35.49 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of 19.50 and a beta of 0.66. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.67. The firm's 50-day moving average price is $35.14 and its 200-day moving average price is $35.08. LTC Properties has a 52-week low of $31.70 and a 52-week high of $39.89.

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 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $30.18 million for the quarter, compared to analyst estimates of $49.97 million. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The firm's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, equities analysts anticipate that LTC Properties will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LTC has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of LTC Properties from $36.00 to $37.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. JMP Securities raised their target price on LTC Properties from $40.00 to $43.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Finally, Wedbush raised shares of LTC Properties to a "strong-buy" rating in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $39.00.

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.

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