LTC Properties, Inc. (NYSE:LTC – Get Free Report) declared a monthly dividend on Wednesday, April 1st. Stockholders of record on Monday, June 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Monday, June 22nd.
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. Equities research analysts expect LTC Properties to earn $2.67 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 85.4%.
LTC Properties Stock Performance
NYSE LTC opened at $36.35 on Friday. LTC Properties has a 1 year low of $33.64 and a 1 year high of $40.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 9.20 and a quick ratio of 9.20. The stock has a market capitalization of $1.86 billion, a PE ratio of 14.72 and a beta of 0.57. The company’s 50 day simple moving average is $37.93 and its two-hundred day simple moving average is $37.27.
Analyst Ratings Changes
LTC has been the topic of several recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of LTC Properties in a report on Wednesday, June 10th. Wells Fargo & Company upped their price objective on shares of LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Weiss Ratings raised shares of LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price target on LTC Properties from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research note on Friday, March 20th. Finally, Cantor Fitzgerald cut their price objective on LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, LTC Properties presently has an average rating of “Moderate Buy” and a consensus target price of $40.60.
Check Out Our Latest Report on LTC
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.
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