LTC Properties, Inc. (LTC) To Go Ex-Dividend on April 19th

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Monday, April 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Tuesday, April 30th. This represents a $2.28 annualized dividend and a dividend yield of 7.28%. The ex-dividend date of this dividend is Friday, April 19th.

LTC Properties has a dividend payout ratio of 121.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

LTC Properties stock opened at $31.32 on Wednesday. The business’s 50-day simple moving average is $31.85 and its 200 day simple moving average is $32.09. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.97. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 14.50 and a beta of 0.87. LTC Properties has a 12-month low of $30.30 and a 12-month high of $35.72.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 target price on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.13.

Insider Activity at LTC Properties

In other news, Director Timothy Triche sold 3,082 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $97,606.94. Following the completion of the transaction, the director now owns 36,343 shares of the company’s stock, valued at approximately $1,150,982.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of LTC Properties

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in shares of LTC Properties by 51.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 206,218 shares of the real estate investment trust’s stock valued at $6,624,000 after buying an additional 69,973 shares during the period. Price T Rowe Associates Inc. MD lifted its position in LTC Properties by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,988 shares of the real estate investment trust’s stock valued at $707,000 after acquiring an additional 833 shares in the last quarter. GSA Capital Partners LLP bought a new position in LTC Properties during the 4th quarter worth about $310,000. Legal & General Group Plc raised its stake in shares of LTC Properties by 3.0% in the 4th quarter. Legal & General Group Plc now owns 388,555 shares of the real estate investment trust’s stock valued at $12,480,000 after purchasing an additional 11,214 shares during the period. Finally, Barclays PLC raised its position in LTC Properties by 142.1% in the 4th quarter. Barclays PLC now owns 76,151 shares of the real estate investment trust’s stock valued at $2,447,000 after buying an additional 44,701 shares during the last quarter. 69.25% of the stock is owned by institutional investors.

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.