LTC Properties, Inc. (NYSE:LTC - Get Free Report) announced a monthly dividend on Tuesday, April 2nd, Wall Street Journal reports. Shareholders of record on Thursday, May 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, May 31st. This represents a $2.28 annualized dividend and a yield of 7.19%. The ex-dividend date is Wednesday, May 22nd.
LTC Properties has a dividend payout ratio of 121.9% 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 $2.73 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 83.5%.
LTC Properties Trading Down 1.9 %
LTC traded down $0.60 during trading on Tuesday, hitting $31.72. 335,911 shares of the stock traded hands, compared to its average volume of 297,536. The firm has a market capitalization of $1.37 billion, a P/E ratio of 14.69 and a beta of 0.87. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.29 and a quick ratio of 13.29. The firm has a 50-day moving average of $31.78 and a 200 day moving average of $32.08. LTC Properties has a 12-month low of $30.30 and a 12-month high of $35.72.
Analyst Ratings Changes
Separately, Deutsche Bank Aktiengesellschaft began coverage on shares of LTC Properties in a research report on Tuesday, January 30th. They set a "hold" rating and a $34.00 price target for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $34.33.
Get Our Latest Stock Report on LTC
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in shares of LTC Properties by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 206,218 shares of the real estate investment trust's stock worth $6,624,000 after acquiring an additional 69,973 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in LTC Properties by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,988 shares of the real estate investment trust's stock valued at $707,000 after purchasing an additional 833 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in LTC Properties during the 4th quarter valued at about $310,000. Legal & General Group Plc grew its position in LTC Properties by 3.0% during the 4th quarter. Legal & General Group Plc now owns 388,555 shares of the real estate investment trust's stock valued at $12,480,000 after purchasing an additional 11,214 shares during the last quarter. Finally, Barclays PLC grew its position in LTC Properties by 142.1% during the 4th quarter. Barclays PLC now owns 76,151 shares of the real estate investment trust's stock valued at $2,447,000 after purchasing an additional 44,701 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors.
About LTC Properties
(
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LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.
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