LTC Properties, Inc. (NYSE:LTC – Get Free Report) declared a jan 25 dividend on Thursday, January 2nd,RTT News reports. Investors of record on Thursday, January 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 6.7%. The ex-dividend date is Thursday, January 23rd.
LTC Properties has a payout ratio of 112.9% 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
LTC Properties stock opened at $34.27 on Friday. The firm has a market capitalization of $1.55 billion, a PE ratio of 14.71 and a beta of 0.93. LTC Properties has a 12-month low of $30.30 and a 12-month high of $39.89. The firm has a 50-day moving average price of $37.18 and a 200-day moving average price of $36.36. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75.
Analysts Set New Price Targets
Several research analysts recently commented on LTC shares. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.
Read Our Latest Stock Analysis on LTC Properties
Insiders Place Their Bets
In other news, insider Clint B. Malin sold 6,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David L. Gruber acquired 3,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.
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.
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