LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, April 6th, Wall Street Journal reports. Shareholders of record on Tuesday, June 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, June 30th. This represents a $2.28 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Monday, June 21st.
LTC Properties has a dividend payout ratio of 123.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect LTC Properties to earn $2.87 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 79.4%.
LTC opened at $43.54 on Thursday. The company has a current ratio of 10.28, a quick ratio of 10.28 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $1.71 billion, a P/E ratio of 19.18 and a beta of 0.89. The stock has a 50-day moving average price of $42.36 and a 200-day moving average price of $38.82. LTC Properties has a 12-month low of $31.02 and a 12-month high of $44.73.
Several research firms recently commented on LTC. Royal Bank of Canada increased their target price on shares of LTC Properties from $33.00 to $38.00 and gave the company an “underperform” rating in a report on Wednesday, March 3rd. Capital One Financial downgraded LTC Properties from an “overweight” rating to an “equal weight” rating and set a $44.00 price objective on the stock. in a report on Tuesday, March 30th. Zacks Investment Research cut LTC Properties from a “hold” rating to a “sell” rating in a report on Tuesday, March 30th. Finally, Mizuho lifted their price target on LTC Properties from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 9th. Four analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.57.
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 181 investments in 27 states with 29 operating partners.
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