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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, April 1st, Wall Street Journal reports. Investors of record on Thursday, May 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, May 31st. This represents a $2.28 annualized dividend and a dividend yield of 6.56%. The ex-dividend date is Wednesday, May 22nd.

LTC Properties has a dividend payout ratio of 120.6% 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 $2.70 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 84.4%.

LTC Properties Price Performance

Shares of NYSE:LTC opened at $34.76 on Monday. The company’s fifty day moving average is $32.63 and its two-hundred day moving average is $32.32. The company has a market cap of $1.51 billion, a P/E ratio of 18.10 and a beta of 0.86. LTC Properties has a 12-month low of $30.30 and a 12-month high of $35.72. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 0.94.

Insider Transactions at LTC Properties

In related news, Director Timothy Triche sold 3,082 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total value of $97,606.94. Following the completion of the sale, the director now owns 36,343 shares of the company’s stock, valued at approximately $1,150,982.81. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.40.

LTC Properties Company Profile

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.