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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Tuesday, July 2nd, Wall Street Journal reports. Shareholders of record on Thursday, August 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, August 30th. This represents a $2.28 annualized dividend and a yield of 6.61%. The ex-dividend date is Thursday, August 22nd.

LTC Properties has a dividend payout ratio of 121.3% meaning 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 $2.70 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 84.4%.

LTC Properties Stock Up 0.1 %

Shares of NYSE LTC opened at $34.48 on Wednesday. The stock has a market cap of $1.50 billion, a P/E ratio of 17.96 and a beta of 0.89. The business’s fifty day simple moving average is $33.92 and its 200-day simple moving average is $32.65. LTC Properties has a 12-month low of $30.30 and a 12-month high of $35.72. The company has a current ratio of 15.86, a quick ratio of 15.86 and a debt-to-equity ratio of 0.94.

About LTC Properties

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.