LTC Properties Inc (LTC) Declares Jan 18 Dividend of $0.19
LTC Properties Inc (NYSE:LTC) declared a jan 18 dividend on Tuesday, January 2nd, RTT News reports. Investors of record on Tuesday, January 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, January 31st. This represents a yield of 5.23%. The ex-dividend date is Monday, January 22nd.
LTC Properties has increased its dividend payment by an average of 3.8% annually over the last three years and has increased its dividend every year for the last 6 years. LTC Properties has a dividend payout ratio of 74.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect LTC Properties to earn $3.12 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 73.1%.
LTC Properties (NYSE LTC) opened at $40.53 on Wednesday. LTC Properties has a fifty-two week low of $40.29 and a fifty-two week high of $52.85. The firm has a market capitalization of $1,598.26, a price-to-earnings ratio of 18.17, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 0.84, a current ratio of 8.66 and a quick ratio of 8.66.
LTC Properties (NYSE:LTC) last issued its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.26. LTC Properties had a return on equity of 11.69% and a net margin of 52.18%. The firm had revenue of $41.25 million for the quarter, compared to analysts’ expectations of $32.91 million. During the same quarter last year, the firm earned $0.57 earnings per share. equities analysts forecast that LTC Properties will post 3.08 EPS for the current fiscal year.
In related news, Director James Pieczynski acquired 2,000 shares of LTC Properties stock in a transaction on Wednesday, January 3rd. The shares were bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the purchase, the director now directly owns 17,974 shares in the company, valued at approximately $783,666.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Boyd W. Hendrickson sold 1,500 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $47.07, for a total value of $70,605.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,727 shares of company stock worth $436,470. 1.50% of the stock is currently owned by insiders.
LTC has been the topic of a number of research analyst reports. BMO Capital Markets reiterated a “sell” rating and issued a $44.00 target price on shares of LTC Properties in a report on Wednesday, October 18th. Zacks Investment Research cut LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. ValuEngine cut LTC Properties from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Royal Bank of Canada reiterated a “hold” rating and issued a $48.00 target price on shares of LTC Properties in a report on Monday, October 23rd. Finally, KeyCorp reiterated a “hold” rating on shares of LTC Properties in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.71.
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LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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