LTC Properties, Inc. (NYSE:LTC – Get Rating) declared a monthly dividend on Monday, October 3rd, Zacks reports. Investors of record on Friday, October 21st will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, October 31st. This represents a $2.28 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Thursday, October 20th.
LTC Properties has a payout ratio of 111.8% indicating that 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 $2.82 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 80.9%.
LTC Properties Trading Down 0.2 %
Shares of LTC Properties stock opened at $37.38 on Tuesday. LTC Properties has a 1 year low of $31.36 and a 1 year high of $45.49. The firm has a market cap of $1.51 billion, a PE ratio of 16.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.91, a current ratio of 15.51 and a quick ratio of 15.51. The company has a 50 day simple moving average of $42.47 and a two-hundred day simple moving average of $39.17.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of LTC Properties to $35.00 in a report on Tuesday, August 9th. StockNews.com raised LTC Properties from a “hold” rating to a “buy” rating in a research note on Saturday, September 24th. Royal Bank of Canada raised their target price on LTC Properties from $39.00 to $44.00 in a research note on Monday, August 22nd. BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $37.00 to $40.00 in a report on Tuesday, June 21st. Finally, KeyCorp lifted their target price on shares of LTC Properties from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.00.
Insider Activity
In other news, Director Timothy Triche sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $43.48, for a total transaction of $47,828.00. Following the transaction, the director now owns 42,413 shares of the company’s stock, valued at approximately $1,844,117.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.
Hedge Funds Weigh In On LTC Properties
Several large investors have recently modified their holdings of LTC. American Century Companies Inc. boosted its holdings in 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 during the period. Cetera Advisor Networks LLC purchased a new position in LTC Properties during the 1st quarter valued at $247,000. PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 1,016 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of LTC Properties by 35.7% in the 1st quarter. MetLife Investment Management LLC now owns 20,498 shares of the real estate investment trust’s stock worth $789,000 after buying an additional 5,390 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of LTC Properties by 2.7% in the 1st quarter. Rhumbline Advisers now owns 121,285 shares of the real estate investment trust’s stock worth $4,666,000 after buying an additional 3,154 shares during the period. Institutional investors own 73.12% of the company’s stock.
LTC Properties Company Profile
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.
See Also
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