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

LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a monthly dividend on Thursday, July 3rd, 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 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Monday, September 22nd.

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. 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

Shares of LTC stock traded down $0.05 during midday trading on Thursday, hitting $35.15. 167,208 shares of the company were exchanged, compared to its average volume of 317,257. The firm has a market capitalization of $1.61 billion, a P/E ratio of 18.12 and a beta of 0.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 10.55 and a current ratio of 10.55. The firm's 50 day moving average price is $35.30 and its two-hundred day moving average price is $34.95. 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 issued 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). LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. The business had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. During the same quarter last year, the firm earned $0.69 EPS. LTC Properties's revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that LTC Properties will post 2.79 earnings per share for the current year.

Insider Activity at LTC Properties

In other news, EVP David M. Boitano bought 6,000 shares of the company's stock in a transaction dated Friday, June 27th. The stock was bought at an average cost of $34.71 per share, for a total transaction of $208,260.00. Following the transaction, the executive vice president owned 15,626 shares of the company's stock, valued at $542,378.46. This represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On LTC Properties

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

Analyst Ratings Changes

Several brokerages have weighed in on LTC. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $36.00 price objective on shares of LTC Properties in a research note on Monday, May 19th. Wells Fargo & Company dropped their price objective on shares of 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 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 stock presently has an average rating of "Moderate Buy" and an average price target of $38.00.

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.