LTC Properties Inc (LTC) To Go Ex-Dividend on October 22nd

LTC Properties Inc (NYSE:LTC) declared 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 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Tuesday, October 22nd.

LTC Properties has raised its dividend by an average of 3.3% annually over the last three years. LTC Properties has a payout ratio of 75.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect LTC Properties to earn $3.08 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 74.0%.

Shares of LTC Properties stock traded up $0.36 on Thursday, hitting $50.91. The company had a trading volume of 3,092 shares, compared to its average volume of 189,559. The business has a 50-day simple moving average of $49.67 and a 200-day simple moving average of $46.73. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.57 and a quick ratio of 9.57. The company has a market cap of $2.02 billion, a PE ratio of 16.65, a PEG ratio of 4.19 and a beta of 0.36. LTC Properties has a 52 week low of $40.11 and a 52 week high of $51.93.

LTC Properties (NYSE:LTC) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.25). The business had revenue of $38.28 million for the quarter, compared to the consensus estimate of $30.54 million. LTC Properties had a return on equity of 13.18% and a net margin of 63.58%. On average, equities research analysts predict that LTC Properties will post 3.06 earnings per share for the current fiscal year.

LTC has been the subject of a number of research reports. Zacks Investment Research cut shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Credit Suisse Group initiated coverage on shares of LTC Properties in a report on Wednesday, July 10th. They set an “underperform” rating and a $19.00 target price for the company. Finally, Berenberg Bank initiated coverage on shares of LTC Properties in a report on Thursday, September 12th. They set a “hold” rating and a $49.00 target price for the company. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. LTC Properties has a consensus rating of “Hold” and an average price target of $40.20.

In related news, CEO Wendy Simpson sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $49.20, for a total transaction of $344,400.00. Following the completion of the sale, the chief executive officer now directly owns 379,365 shares in the company, valued at $18,664,758. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.

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 holds more than 200 investments in 28 states with 30 operating partners.

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Dividend History for LTC Properties (NYSE:LTC)

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