LTC Properties Inc (NYSE:LTC) declared a jul 18 dividend on Monday, July 2nd, RTT News reports. Stockholders of record on Monday, July 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, July 31st.
LTC Properties has raised its dividend by an average of 3.8% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. LTC Properties has a payout ratio of 74.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LTC Properties to earn $3.10 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 73.5%.
Shares of LTC Properties opened at $42.89 on Tuesday, MarketBeat Ratings reports. The stock has a market capitalization of $1.69 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 3.55 and a beta of 0.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 9.69 and a current ratio of 9.69. LTC Properties has a 1 year low of $34.46 and a 1 year high of $52.85.
LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Wednesday, May 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $41.81 million during the quarter, compared to analyst estimates of $34.17 million. LTC Properties had a net margin of 51.43% and a return on equity of 11.36%. During the same period in the prior year, the firm earned $0.54 earnings per share. equities research analysts forecast that LTC Properties will post 3.01 EPS for the current fiscal year.
A number of analysts recently commented on LTC shares. Royal Bank of Canada set a $43.00 target price on LTC Properties and gave the company a “hold” rating in a research report on Tuesday, March 6th. Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $45.00 target price on shares of LTC Properties in a research report on Thursday, May 10th. TheStreet raised LTC Properties from a “c+” rating to a “b-” rating in a research report on Thursday, June 28th. Finally, ValuEngine lowered LTC Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. LTC Properties presently has an average rating of “Hold” and a consensus price target of $42.86.
About LTC Properties
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At March 31, 2018, LTC had 203 investments located in 29 states comprising 105 assisted living communities, 97 skilled nursing centers and a behavioral health care hospital.
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