LTC Properties, Inc. (LTC) to Issue Apr 25 Dividend of $0.19 on April 30th

LTC Properties, Inc. (NYSE:LTC) declared a apr 25 dividend on Tuesday, April 1st, RTT News reports. Stockholders of record on Tuesday, April 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, April 30th.

LTC Properties has decreased its dividend payment by an average of 3.4% annually over the last three years. LTC Properties has a dividend payout ratio of 119.4% 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 $2.72 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 Trading Down 0.7 %

Shares of LTC Properties stock opened at $35.31 on Thursday. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $34.91 and a 200 day simple moving average of $35.93. LTC Properties has a 12-month low of $31.14 and a 12-month high of $39.89. The company has a market capitalization of $1.60 billion, a P/E ratio of 15.15 and a beta of 0.96.

LTC Properties (NYSE:LTC) last announced its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $34.81 million during the quarter, compared to the consensus estimate of $45.25 million. On average, sell-side analysts anticipate that LTC Properties will post 2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.