LTC Properties, Inc. (LTC) to Issue Oct 17 Dividend of $0.19 on October 31st
LTC Properties, Inc. (NYSE:LTC) declared a oct 17 dividend on Monday, October 2nd, RTT News reports. Shareholders of record on Monday, October 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, October 31st. This represents a yield of 4.84%. The ex-dividend date is Friday, October 20th.
LTC Properties has raised its dividend by an average of 4.8% per year over the last three years and has increased its dividend every year for the last 5 years. LTC Properties has a dividend payout ratio of 74.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect LTC Properties to earn $3.14 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 72.6%.
LTC Properties (LTC) opened at 47.23 on Friday. LTC Properties has a 52 week low of $43.17 and a 52 week high of $52.85. The stock has a market capitalization of $1.87 billion, a PE ratio of 20.76 and a beta of 0.16. The firm has a 50-day moving average price of $47.71 and a 200-day moving average price of $48.86.
LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $42.47 million during the quarter, compared to analyst estimates of $35.08 million. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. Equities research analysts predict that LTC Properties will post $2.18 EPS for the current fiscal year.
Several research firms have recently issued reports on LTC. BidaskClub lowered LTC Properties from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. BMO Capital Markets lowered LTC Properties from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $50.00 to $44.00 in a research note on Friday, August 11th. Stifel Nicolaus set a $46.00 price objective on LTC Properties and gave the company a “hold” rating in a research note on Sunday, August 13th. Capital One Financial Corporation began coverage on LTC Properties in a research note on Monday, September 25th. They issued an “overweight” rating and a $50.00 price objective for the company. Finally, KeyCorp reaffirmed a “hold” rating on shares of LTC Properties in a research note on Sunday, September 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.50.
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About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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