LTC Properties, Inc. Plans Nov 25 Dividend of $0.19 (NYSE:LTC)

Key Points

• LTC Properties, Inc. has declared a dividend of $0.19 per share, to be paid on November 28th, 2023, with an ex-dividend date of November 20th.
• The company currently has a dividend payout ratio of 118.8%, indicating reliance on its balance sheet to cover dividends, although it expects future earnings to improve.
• Analysts have mixed ratings on the stock, with an average price target of $38.80, suggesting a "Moderate Buy" outlook based on recent assessments and price adjustments from various firms.

LTC Properties, Inc. (NYSE:LTC - Get Free Report) declared a nov 25 dividend on Wednesday, October 1st, RTT News reports. Stockholders of record on Thursday, November 20th will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, November 28th. This represents a dividend yield of 615.0%. The ex-dividend date of this dividend is Thursday, November 20th.

LTC Properties has a dividend 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. 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 Price Performance

Shares of NYSE LTC opened at $37.07 on Thursday. The firm has a market cap of $1.71 billion, a P/E ratio of 20.37 and a beta of 0.68. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.67. LTC Properties has a 1-year low of $31.70 and a 1-year high of $39.89. The business's 50 day moving average is $35.85 and its 200-day moving average is $35.40.

LTC Properties (NYSE:LTC - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 7.95% and a net margin of 38.24%.The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Equities research analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

LTC has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on LTC Properties in a research report on Wednesday. They set a "neutral" rating and a $38.00 price target on the stock. BMO Capital Markets raised LTC Properties from an "underperform" rating to a "market perform" rating and set a $39.00 price target on the stock in a research report on Wednesday, September 24th. JMP Securities increased their price target on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada increased their price target on LTC Properties from $36.00 to $37.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company increased their price target on LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, LTC Properties currently has an average rating of "Moderate Buy" and an average price target of $38.80.

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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