LTC Properties, Inc. (LTC) To Go Ex-Dividend on June 21st

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.

LTC Properties (NYSE:LTC) last released its earnings results on Thursday, February 18th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). LTC Properties had a return on equity of 11.41% and a net margin of 56.46%. On average, equities research analysts predict that LTC Properties will post 2.92 EPS for the current year.

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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Dividend History for LTC Properties (NYSE:LTC)

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