LTC Properties, Inc. (LTC) To Go Ex-Dividend on December 23rd

LTC Properties, Inc. (NYSE:LTC) announced a dec 25 dividend on Wednesday, October 1st, RTT News reports. Investors of record on Tuesday, December 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, December 31st. This represents a yield of 615.0%. The ex-dividend date is Tuesday, December 23rd.

LTC Properties has a dividend payout ratio of 118.7% 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 $2.72 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 83.8%.

LTC Properties Stock Performance

Shares of LTC Properties stock opened at $34.18 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of 47.47 and a beta of 0.62. The company has a current ratio of 8.68, a quick ratio of 8.68 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $35.40 and a two-hundred day moving average price of $35.47. LTC Properties has a 1-year low of $31.70 and a 1-year high of $37.25.

LTC Properties (NYSE:LTC) last announced its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $50.05 million for the quarter, compared to analyst estimates of $65.94 million. LTC Properties had a return on equity of 3.22% and a net margin of 14.58%.The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. As a group, analysts anticipate that LTC Properties will post 2.79 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on LTC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LTC Properties in a research report on Monday, December 15th. Royal Bank Of Canada increased their target price on shares of LTC Properties from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price target on shares of LTC Properties in a research note on Friday, October 17th. BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price objective on the stock in a report on Wednesday, September 24th. Finally, Wells Fargo & Company increased their price objective on shares of LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.00.

LTC Properties Company Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.