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

LTC Properties, Inc. (NYSE:LTC) announced a jan 25 dividend on Tuesday, January 21st,investing.com reports. Stockholders of record on Thursday, January 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a dividend yield of 6.45%. The ex-dividend date is Thursday, January 23rd.

LTC Properties has a payout ratio of 114.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect LTC Properties to earn $2.72 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 83.8%.

LTC Properties Price Performance

NYSE:LTC traded up $0.42 during trading hours on Tuesday, reaching $35.35. 246,487 shares of the company were exchanged, compared to its average volume of 303,290. The business has a 50 day moving average of $36.32 and a 200 day moving average of $36.41. LTC Properties has a 1-year low of $30.30 and a 1-year high of $39.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The company has a market capitalization of $1.60 billion, a P/E ratio of 15.17 and a beta of 0.93.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). The firm had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 EPS. Research analysts forecast that LTC Properties will post 2.79 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 target price (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.75.

Insider Activity

In related news, Director David L. Gruber bought 3,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the sale, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.