LTC Properties, Inc. (LTC) To Go Ex-Dividend on March 23rd

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Friday, January 2nd. Stockholders of record on Monday, March 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Monday, March 23rd.

LTC Properties has a dividend payout ratio of 118.7% 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 $2.72 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 83.8%.

LTC Properties Stock Up 0.7%

NYSE:LTC opened at $34.62 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 8.68 and a quick ratio of 8.68. The firm’s 50-day moving average price is $35.28 and its 200-day moving average price is $35.42. The company has a market capitalization of $1.65 billion, a PE ratio of 48.08 and a beta of 0.62. LTC Properties has a 1-year low of $31.70 and a 1-year high of $37.25.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $50.05 million during the quarter, compared to analysts’ expectations of $65.94 million. LTC Properties had a net margin of 14.58% and a return on equity of 3.22%. LTC Properties’s revenue was up 24.2% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. On average, equities analysts predict that LTC Properties will post 2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LTC shares. Wells Fargo & Company boosted their price target on LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a research note on Monday, December 29th. BMO Capital Markets raised LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 target price on the stock in a research note on Wednesday, September 24th. Royal Bank Of Canada raised their price target on LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. Finally, Cantor Fitzgerald started coverage on LTC Properties in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

LTC Properties Company Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.