LTC Properties, Inc. (NYSE:LTC) Announces Apr 25 Dividend of $0.19

LTC Properties, Inc. (NYSE:LTC) announced a apr 25 dividend on Tuesday, April 1st, RTT News reports. Stockholders of record on Tuesday, April 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, April 30th.

LTC Properties has decreased its dividend payment by an average of 3.4% per year over the last three years. LTC Properties has a payout ratio of 119.4% 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 $2.72 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 Price Performance

Shares of LTC opened at $35.55 on Wednesday. The business’s 50-day moving average is $34.89 and its two-hundred day moving average is $35.95. The company has a market capitalization of $1.62 billion, a P/E ratio of 15.26 and a beta of 0.96. LTC Properties has a fifty-two week low of $31.14 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.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $34.81 million for the quarter, compared to analyst estimates of $45.25 million. Research analysts predict that LTC Properties will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LTC. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their price target on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th.

About LTC Properties

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.