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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Monday, April 1st, Zacks reports. Shareholders 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 annualized dividend and a yield of 7.28%. The ex-dividend date is Friday, April 19th.

LTC Properties has a dividend payout ratio of 121.9% indicating that 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 Stock Performance

NYSE LTC opened at $31.32 on Wednesday. The firm has a market cap of $1.35 billion, a P/E ratio of 14.50 and a beta of 0.87. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.97. The company’s 50 day moving average is $31.85 and its 200-day moving average is $32.09. LTC Properties has a 12-month low of $30.30 and a 12-month high of $35.72.

Insider Activity at LTC Properties

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

Hedge Funds Weigh In On LTC Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LTC. Money Concepts Capital Corp increased its holdings in shares of LTC Properties by 3,395.0% in the 4th quarter. Money Concepts Capital Corp now owns 699 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 679 shares during the last quarter. Lazard Asset Management LLC bought a new position in LTC Properties in the fourth quarter valued at $26,000. FMR LLC raised its position in LTC Properties by 73.3% during the third quarter. FMR LLC now owns 1,168 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 494 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in LTC Properties during the second quarter worth about $41,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of LTC Properties by 59.1% in 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft started coverage on LTC Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $34.00 target price on the stock. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, LTC Properties has an average rating of “Hold” and an average target price of $34.13.

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.