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

LTC Properties, Inc. (NYSE:LTC) declared 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 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date of this dividend is Friday, April 19th.

LTC Properties has a 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 Price Performance

Shares of NYSE LTC opened at $31.61 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.29 and a quick ratio of 13.29. The company has a market cap of $1.36 billion, a PE ratio of 14.63 and a beta of 0.87. The stock has a fifty day moving average price of $31.88 and a 200 day moving average price of $32.09. LTC Properties has a 1-year low of $30.30 and a 1-year high of $35.72.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $34.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.13.

Insider Activity

In related news, Director Timothy Triche sold 3,082 shares of LTC Properties stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $97,606.94. Following the completion of the transaction, the director now directly owns 36,343 shares in the company, valued at approximately $1,150,982.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On LTC Properties

Institutional investors have recently made changes to their positions in the stock. Money Concepts Capital Corp increased its position in LTC Properties by 3,395.0% during the 4th quarter. Money Concepts Capital Corp now owns 699 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 679 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in LTC Properties during the 4th quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new stake in LTC Properties during the 2nd quarter worth about $41,000. FMR LLC increased its position in LTC Properties by 73.3% during the 3rd quarter. FMR LLC now owns 1,168 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 494 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in LTC Properties by 59.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,340 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 869 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

About LTC Properties

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.