LTC Properties Inc Declares Monthly Dividend of $0.19 (LTC)

LTC Properties Inc (NYSE:LTC) announced a monthly dividend on Wednesday, January 3rd, Wall Street Journal reports. Investors of record on Thursday, March 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, March 30th. This represents a $2.28 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend is Wednesday, March 21st.

LTC Properties has raised its dividend by an average of 3.8% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. LTC Properties has a dividend payout ratio of 74.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LTC Properties to earn $3.14 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 72.6%.

LTC Properties (LTC) traded up $0.06 during mid-day trading on Thursday, hitting $41.26. 55,407 shares of the company traded hands, compared to its average volume of 321,343. The firm has a market cap of $1,630.00, a price-to-earnings ratio of 18.59, a PEG ratio of 3.40 and a beta of 0.18. LTC Properties has a 1-year low of $40.65 and a 1-year high of $52.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 8.66 and a current ratio of 8.66.

LTC Properties (NYSE:LTC) last announced its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.50 by $0.26. The firm had revenue of $41.25 million for the quarter, compared to the consensus estimate of $32.91 million. LTC Properties had a net margin of 52.18% and a return on equity of 11.69%. During the same quarter last year, the firm posted $0.57 EPS. sell-side analysts anticipate that LTC Properties will post 3.08 earnings per share for the current fiscal year.

LTC has been the topic of several research reports. Zacks Investment Research upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. BMO Capital Markets restated a “sell” rating and set a $44.00 price objective on shares of LTC Properties in a report on Wednesday, October 18th. ValuEngine downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. KeyCorp restated a “hold” rating on shares of LTC Properties in a report on Sunday, September 17th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $48.00 target price on shares of LTC Properties in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.71.

In other news, Director James Pieczynski purchased 2,000 shares of LTC Properties stock in a transaction on Wednesday, January 3rd. The shares were purchased at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the transaction, the director now directly owns 17,974 shares in the company, valued at $783,666.40. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Boyd W. Hendrickson sold 1,500 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $47.07, for a total transaction of $70,605.00. The disclosure for this sale can be found here. In the last three months, insiders sold 9,727 shares of company stock worth $436,470. 1.50% of the stock is currently owned by insiders.

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About LTC Properties

LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).

Dividend History for LTC Properties (NYSE:LTC)

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