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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, July 1st, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date is Friday, September 20th.

LTC Properties has a dividend 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. 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 Price Performance

Shares of NYSE LTC opened at $37.30 on Thursday. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $36.45 and a two-hundred day simple moving average of $34.34. LTC Properties has a 1-year low of $30.30 and a 1-year high of $38.28. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 19.43 and a beta of 0.91.

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

Insiders Place Their Bets

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