LTC Properties, Inc. (NYSE:LTC – Get Rating) declared a monthly dividend on Tuesday, April 5th, Wall Street Journal reports. Investors of record on Wednesday, June 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, June 30th. This represents a $2.28 annualized dividend and a dividend yield of 6.13%. The ex-dividend date of this dividend is Tuesday, June 21st.
LTC Properties has a dividend payout ratio of 131.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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%.
Shares of NYSE LTC opened at $37.18 on Friday. The firm’s 50-day moving average price is $36.62 and its 200-day moving average price is $35.59. The company has a quick ratio of 15.55, a current ratio of 15.55 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.47 billion, a PE ratio of 26.18 and a beta of 0.95. LTC Properties has a 52-week low of $31.36 and a 52-week high of $40.33.
LTC Properties (NYSE:LTC – Get Rating) last released its earnings results on Thursday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.26). The firm had revenue of $40.80 million for the quarter, compared to the consensus estimate of $37.08 million. LTC Properties had a return on equity of 7.48% and a net margin of 36.03%. LTC Properties’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. As a group, equities research analysts anticipate that LTC Properties will post 2.55 EPS for the current fiscal year.
Several research analysts have commented on LTC shares. Capital One Financial started coverage on shares of LTC Properties in a research note on Friday, June 3rd. They set an “equal weight” rating and a $41.00 price objective for the company. Royal Bank of Canada upgraded LTC Properties from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $34.00 to $37.00 in a report on Monday, March 14th. StockNews.com started coverage on LTC Properties in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays assumed coverage on LTC Properties in a report on Tuesday, April 26th. They issued an “underweight” rating and a $30.00 price objective for the company. Finally, Credit Suisse Group boosted their target price on shares of LTC Properties from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, April 1st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, LTC Properties has a consensus rating of “Hold” and a consensus target price of $36.50.
A number of institutional investors have recently made changes to their positions in the business. Yousif Capital Management LLC increased its holdings in shares of LTC Properties by 1.3% during the first quarter. Yousif Capital Management LLC now owns 35,965 shares of the real estate investment trust’s stock valued at $1,384,000 after acquiring an additional 455 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of LTC Properties by 32.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,152 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 1,016 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of LTC Properties by 2.6% during the first quarter. Guggenheim Capital LLC now owns 40,732 shares of the real estate investment trust’s stock valued at $1,567,000 after acquiring an additional 1,020 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of LTC Properties by 10.5% during the first quarter. American Century Companies Inc. now owns 12,341 shares of the real estate investment trust’s stock valued at $475,000 after acquiring an additional 1,174 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of LTC Properties by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 54,297 shares of the real estate investment trust’s stock valued at $1,854,000 after acquiring an additional 1,193 shares in the last quarter. Institutional investors and hedge funds own 72.14% of the company’s stock.
About LTC Properties (Get Rating)
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 holds 181 investments in 27 states with 29 operating partners.
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