LTC Properties, Inc. to Issue Monthly Dividend of $0.19 (NYSE:LTC)

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, April 2nd, Wall Street Journal reports. Shareholders of record on Thursday, May 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, May 31st. This represents a $2.28 annualized dividend and a dividend yield of 7.19%. The ex-dividend date is Wednesday, May 22nd.

LTC Properties has a dividend payout ratio of 121.9% 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 $2.73 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 83.5%.

LTC Properties Stock Performance

NYSE:LTC opened at $31.72 on Wednesday. The business’s fifty day moving average is $31.78 and its 200 day moving average is $32.08. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 14.69 and a beta of 0.87. The company has a debt-to-equity ratio of 0.97, a quick ratio of 13.29 and a current ratio of 13.29. LTC Properties has a 52-week low of $30.30 and a 52-week high of $35.72.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of LTC Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, LTC Properties has a consensus rating of “Hold” and a consensus price target of $34.33.

Institutional Trading of LTC Properties

Several institutional investors and hedge funds have recently made changes to their positions in LTC. Creative Planning increased its stake in LTC Properties by 7.1% in the fourth quarter. Creative Planning now owns 6,687 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 446 shares during the last quarter. Mariner LLC purchased a new position in shares of LTC Properties during the 4th quarter valued at about $202,000. PNC Financial Services Group Inc. lifted its position in LTC Properties by 32.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,152 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 1,016 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in LTC Properties in the fourth quarter worth approximately $144,000. Finally, Captrust Financial Advisors bought a new position in LTC Properties during the second quarter valued at approximately $143,000. Hedge funds and other institutional investors own 69.25% 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's investment portfolio includes 201 properties in 26 states with 29 operating partners.