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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, July 2nd, Wall Street Journal reports. Investors of record on Thursday, August 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, August 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend is Thursday, August 22nd.

LTC Properties has a dividend payout ratio of 121.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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

LTC stock traded up $0.01 during trading on Tuesday, hitting $34.45. 136,551 shares of the company’s stock traded hands, compared to its average volume of 276,885. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 0.94. LTC Properties has a 52 week low of $30.30 and a 52 week high of $35.72. The stock has a fifty day moving average price of $33.87 and a two-hundred day moving average price of $32.64. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 17.93 and a beta of 0.89.

LTC Properties Company Profile

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.