LTC Properties, Inc. (LTC) to Issue Monthly Dividend of $0.19 on March 31st

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Friday, January 3rd, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, March 31st. This represents a $2.28 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Friday, March 21st.

LTC Properties has decreased its dividend payment by an average of 3.4% annually over the last three years. LTC Properties has a payout ratio of 115.7% 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 Stock Down 1.0 %

Shares of LTC Properties stock opened at $35.62 on Wednesday. LTC Properties has a 1 year low of $31.14 and a 1 year high of $39.89. The business has a 50-day moving average of $34.76 and a two-hundred day moving average of $36.06. The company has a market capitalization of $1.62 billion, a P/E ratio of 15.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60.

LTC Properties (NYSE:LTC) last announced its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $34.81 million for the quarter, compared to analyst estimates of $45.25 million. As a group, equities analysts predict that LTC Properties will post 2.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LTC. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their price target on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th.

About LTC Properties

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.