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

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a monthly dividend on Wednesday, July 2nd, Wall Street Journal reports. Investors of record on Monday, September 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, September 30th. This represents a $2.28 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Monday, September 22nd.

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 Stock Up 0.2%

Shares of LTC traded up $0.07 during midday trading on Thursday, hitting $35.27. 27,925 shares of the company's stock traded hands, compared to its average volume of 315,808. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 18.20 and a beta of 0.65. LTC Properties has a 1 year low of $31.70 and a 1 year high of $39.89. The firm's fifty day moving average is $35.30 and its 200-day moving average is $34.95.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The business had revenue of $49.03 million for the quarter, compared to analysts' expectations of $44.43 million. LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. LTC Properties's revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, sell-side analysts anticipate that LTC Properties will post 2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LTC. Royal Bank Of Canada reissued a "sector perform" rating and issued a $36.00 target price on shares of LTC Properties in a research report on Monday, May 19th. Wells Fargo & Company cut 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. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.00.

Insider Activity

In other LTC Properties news, EVP David M. Boitano purchased 6,000 shares of LTC Properties stock in a transaction that occurred on 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 acquisition, the executive vice president owned 15,626 shares of the company's stock, valued at $542,378.46. This trade represents a 62.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LTC Properties

An institutional investor recently raised its position in LTC Properties stock. AQR Capital Management LLC increased its stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,259 shares of the real estate investment trust's stock after purchasing an additional 806 shares during the period. AQR Capital Management LLC owned 0.06% of LTC Properties worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 69.25% of the company's stock.

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.