LTC Properties, Inc. (NYSE:LTC) Plans Jan 25 Dividend of $0.19

LTC Properties, Inc. (NYSE:LTC) announced a jan 25 dividend on Thursday, January 2nd,RTT News 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.

LTC Properties has a payout ratio of 112.9% 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 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 Trading Down 1.5 %

Shares of LTC stock opened at $34.03 on Friday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 14.61 and a beta of 0.91. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $39.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The company has a 50 day moving average price of $37.20 and a 200 day moving average price of $36.36.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The business had revenue of $55.78 million during 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 last year, the firm earned $0.65 EPS. Equities research analysts predict that LTC Properties will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling at LTC Properties

In related news, insider Clint B. Malin sold 6,000 shares of LTC Properties 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 in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David L. Gruber purchased 3,000 shares of LTC Properties stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the transaction, the director now owns 21,516 shares of the company’s stock, valued at $799,534.56. The trade was a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LTC. Wells Fargo & Company reissued 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, October 1st. Wedbush reiterated an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th.

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.