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

LTC Properties, Inc. (NYSE:LTC – Get Rating) declared a monthly dividend on Monday, April 4th, Wall Street Journal reports. Stockholders of record on Thursday, April 21st will be given a dividend of 0.19 per share by the real estate investment trust on Friday, April 29th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Wednesday, April 20th.

LTC Properties has a dividend payout ratio of 131.0% 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 $2.68 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 85.1%.

Shares of LTC Properties stock opened at $36.78 on Monday. The stock has a 50 day moving average of $35.75 and a 200 day moving average of $34.57. LTC Properties has a 12 month low of $31.36 and a 12 month high of $43.88. The firm has a market cap of $1.45 billion, a PE ratio of 26.09 and a beta of 0.93. The company has a current ratio of 11.94, a quick ratio of 11.94 and a debt-to-equity ratio of 0.97.

LTC Properties (NYSE:LTC – Get Rating) last announced its quarterly earnings results on Thursday, February 17th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.25). LTC Properties had a net margin of 35.74% and a return on equity of 7.34%. During the same period in the prior year, the business earned $0.78 EPS. As a group, equities research analysts forecast that LTC Properties will post 2.52 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of LTC Properties during the 4th quarter worth approximately $13,854,000. Barclays PLC raised its stake in shares of LTC Properties by 4.4% during the 4th quarter. Barclays PLC now owns 67,952 shares of the real estate investment trust’s stock worth $2,321,000 after buying an additional 2,855 shares during the period. BlackRock Inc. raised its stake in shares of LTC Properties by 5.1% during the 4th quarter. BlackRock Inc. now owns 7,397,161 shares of the real estate investment trust’s stock worth $252,540,000 after buying an additional 358,296 shares during the period. Benchmark Investment Advisors LLC acquired a new position in shares of LTC Properties during the 4th quarter worth approximately $306,000. Finally, California State Teachers Retirement System raised its stake in shares of LTC Properties by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 54,297 shares of the real estate investment trust’s stock worth $1,854,000 after buying an additional 1,193 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on LTC. StockNews.com assumed coverage on LTC Properties in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Royal Bank of Canada upgraded LTC Properties from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $34.00 to $37.00 in a report on Monday, March 14th. Credit Suisse Group raised their price objective on LTC Properties from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, April 1st. Finally, Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, April 13th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.00.

LTC Properties Company Profile (Get Rating)

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 holds 181 investments in 27 states with 29 operating partners.

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