LTC Properties, Inc. (NYSE:LTC – Get Free Report) declared a monthly dividend on Wednesday, July 1st. Investors of record on Thursday, July 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Thursday, July 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. Equities 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 Trading Up 1.0%
NYSE LTC opened at $39.24 on Friday. LTC Properties has a 52 week low of $33.64 and a 52 week high of $40.80. The firm has a 50 day moving average of $37.70 and a two-hundred day moving average of $37.48. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $2.01 billion, a PE ratio of 15.89 and a beta of 0.57.
Insider Transactions at LTC Properties
In other news, EVP David M. Boitano purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $34.77 per share, with a total value of $347,700.00. Following the completion of the acquisition, the executive vice president directly owned 46,160 shares of the company’s stock, valued at approximately $1,604,983.20. This trade represents a 27.65% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David L. Gruber bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of $38.41 per share, with a total value of $153,640.00. Following the completion of the purchase, the director owned 44,045 shares in the company, valued at approximately $1,691,768.45. This represents a 9.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.20% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. Optiver Holding B.V. boosted its position in shares of LTC Properties by 153.1% during the 1st quarter. Optiver Holding B.V. now owns 772 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 467 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of LTC Properties by 187.5% in the 4th quarter. Farther Finance Advisors LLC now owns 900 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 587 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of LTC Properties by 33.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,346 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 340 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of LTC Properties by 27.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,606 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 348 shares during the period. Finally, KBC Group NV acquired a new stake in shares of LTC Properties in the first quarter valued at about $78,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.
About LTC Properties
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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