LTC Properties, Inc. (LTC) to Issue Jan 25 Dividend of $0.19 on January 31st

LTC Properties, Inc. (NYSE:LTC) announced a jan 25 dividend on Thursday, January 2nd,RTT News reports. Stockholders of record on Thursday, January 23rd will be given 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 dividend payout ratio of 114.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Up 0.3 %

LTC stock opened at $34.93 on Tuesday. The company’s 50-day simple moving average is $36.32 and its 200-day simple moving average is $36.41. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties has a 52-week low of $30.30 and a 52-week high of $39.89. The firm has a market cap of $1.58 billion, a P/E ratio of 14.99 and a beta of 0.93.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The company had revenue of $55.78 million during the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, equities analysts forecast that LTC Properties will post 2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LTC has been the topic of a number of research reports. JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Tuesday, January 7th. Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $37.00 target price (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, LTC Properties has a consensus rating of “Moderate Buy” and a consensus target price of $37.75.

Insiders Place Their Bets

In other news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the sale, the insider now owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David L. Gruber purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. The trade was a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.

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.