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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, April 1st, Zacks reports. Shareholders of record on Monday, April 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, April 30th. This represents a $2.28 annualized dividend and a yield of 7.21%. The ex-dividend date is Friday, April 19th.

LTC Properties has a payout ratio of 121.9% indicating that 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 $2.73 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 83.5%.

LTC Properties Stock Up 1.0 %

Shares of NYSE LTC opened at $31.61 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.29 and a quick ratio of 13.29. The company has a market cap of $1.36 billion, a P/E ratio of 14.63 and a beta of 0.87. LTC Properties has a 1 year low of $30.30 and a 1 year high of $35.72. The firm has a 50-day simple moving average of $31.88 and a two-hundred day simple moving average of $32.09.

Insider Activity

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 shares were sold at an average price of $31.67, for a total value of $97,606.94. Following the completion of the transaction, the director now owns 36,343 shares of the company’s stock, valued at $1,150,982.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

A number of large investors have recently bought and sold shares of LTC. American Century Companies Inc. raised its stake in LTC Properties by 10.5% in the first quarter. American Century Companies Inc. now owns 12,341 shares of the real estate investment trust’s stock worth $475,000 after buying an additional 1,174 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in LTC Properties in the first quarter worth $247,000. PNC Financial Services Group Inc. grew its holdings in LTC Properties by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,152 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 1,016 shares during the last quarter. MetLife Investment Management LLC grew its holdings in LTC Properties by 35.7% in the first quarter. MetLife Investment Management LLC now owns 20,498 shares of the real estate investment trust’s stock worth $789,000 after purchasing an additional 5,390 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in LTC Properties by 2.7% in the first quarter. Rhumbline Advisers now owns 121,285 shares of the real estate investment trust’s stock worth $4,666,000 after purchasing an additional 3,154 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price objective for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.13.

About LTC Properties

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.