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

Written by Amanda

LTC Properties, Inc. (NYSE:LTCGet Rating) announced a monthly dividend on Friday, July 1st, Zacks reports. Investors of record on Thursday, July 21st will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, July 29th. This represents a $2.28 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend is Wednesday, July 20th.

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 $38.82 on Friday. LTC Properties has a 12 month low of $31.36 and a 12 month high of $40.33. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 27.34 and a beta of 0.95. The stock’s 50 day moving average price is $37.00 and its 200 day moving average price is $35.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 15.55 and a quick ratio of 15.55.

LTC Properties (NYSE:LTCGet Rating) last announced its earnings results on Thursday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.26). LTC Properties had a return on equity of 7.48% and a net margin of 36.03%. The firm had revenue of $40.80 million for the quarter, compared to the consensus estimate of $37.08 million. During the same period in the previous year, the firm earned $0.62 EPS. LTC Properties’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts expect that LTC Properties will post 2.55 EPS for the current year.

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Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in LTC Properties by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,152 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 1,016 shares during the period. Cetera Advisor Networks LLC acquired a new stake in LTC Properties during the 1st quarter valued at $247,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in LTC Properties during the 1st quarter valued at $263,000. Penserra Capital Management LLC grew its holdings in shares of LTC Properties by 28.8% during the 1st quarter. Penserra Capital Management LLC now owns 8,697 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 1,944 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of LTC Properties by 10.5% during the 1st 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. 72.14% of the stock is currently owned by institutional investors.

Several brokerages recently commented on LTC. Royal Bank of Canada raised LTC Properties from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $34.00 to $37.00 in a report on Monday, March 14th. StockNews.com assumed coverage on LTC Properties in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays assumed coverage on LTC Properties in a report on Tuesday, April 26th. They issued an “underweight” rating and a $30.00 price target on the stock. Capital One Financial assumed coverage on LTC Properties in a report on Friday, June 3rd. They issued an “equal weight” rating and a $41.00 price target on the stock. Finally, Credit Suisse Group upped their price target on LTC Properties from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, April 1st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.20.

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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Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai