LTC Properties Inc (NYSE:LTC) declared a monthly dividend on Tuesday, July 3rd, Wall Street Journal reports. Shareholders of record on Thursday, August 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, August 31st. This represents a $2.28 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Wednesday, August 22nd.
LTC Properties has increased its dividend by an average of 3.8% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. LTC Properties has a payout ratio of 74.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LTC Properties to earn $3.10 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 73.5%.
NYSE:LTC opened at $43.12 on Wednesday. LTC Properties has a fifty-two week low of $34.46 and a fifty-two week high of $52.85. The stock has a market capitalization of $1.70 billion, a PE ratio of 13.91, a PEG ratio of 3.56 and a beta of 0.13. The company has a current ratio of 9.69, a quick ratio of 9.69 and a debt-to-equity ratio of 0.91.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Wednesday, May 9th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). LTC Properties had a net margin of 51.43% and a return on equity of 11.36%. The firm had revenue of $41.81 million during the quarter, compared to the consensus estimate of $34.17 million. During the same quarter in the prior year, the business posted $0.54 earnings per share. equities research analysts forecast that LTC Properties will post 3.01 EPS for the current year.
A number of research firms have recently weighed in on LTC. TheStreet upgraded shares of LTC Properties from a “c+” rating to a “b-” rating in a report on Thursday, June 28th. Royal Bank of Canada cut shares of LTC Properties from a “sector perform” rating to an “underperform” rating in a report on Friday, June 1st. Cantor Fitzgerald restated a “buy” rating and issued a $45.00 price target on shares of LTC Properties in a report on Thursday, May 10th. Zacks Investment Research upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research note on Friday, May 18th. Finally, ValuEngine cut shares of LTC Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.86.
LTC Properties Company Profile
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At March 31, 2018, LTC had 203 investments located in 29 states comprising 105 assisted living communities, 97 skilled nursing centers and a behavioral health care hospital.
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