LTC Properties, Inc. (LTC) To Go Ex-Dividend on October 23rd

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, October 1st, Zacks reports. Stockholders of record on Wednesday, October 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Thursday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date of this dividend is Wednesday, October 23rd.

LTC Properties has a payout ratio of 121.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

NYSE LTC opened at $36.19 on Thursday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.85 and a beta of 0.91. The stock has a 50-day moving average of $36.48 and a 200 day moving average of $34.65. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. LTC Properties has a twelve month low of $30.30 and a twelve month high of $38.28.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The business had revenue of $50.12 million during the quarter, compared to analysts’ expectations of $33.47 million. During the same quarter last year, the firm earned $0.66 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that LTC Properties will post 2.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on LTC shares. Wells Fargo & Company restated an “equal weight” rating and set a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research report on Tuesday. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a research report on Friday, September 20th.

Insider Transactions at LTC Properties

In other LTC Properties news, Director David L. Gruber bought 6,000 shares of the stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $35.75 per share, with a total value of $214,500.00. Following the purchase, the director now directly owns 18,412 shares in the company, valued at approximately $658,229. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Timothy Triche sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the sale, the director now owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David L. Gruber acquired 6,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the transaction, the director now owns 18,412 shares of the company’s stock, valued at approximately $658,229. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.

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.