LTC Properties, Inc. (NYSE:LTC) Announces Monthly Dividend of $0.19

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Wednesday, July 1st. Investors of record on Friday, August 21st will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, August 21st.

LTC Properties has a payout ratio of 118.7% meaning 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 $2.67 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 Up 0.9%

NYSE LTC traded up $0.34 during mid-day trading on Wednesday, reaching $38.80. 398,572 shares of the company’s stock traded hands, compared to its average volume of 440,182. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.73. LTC Properties has a 1-year low of $33.64 and a 1-year high of $40.80. The company has a fifty day simple moving average of $37.70 and a 200-day simple moving average of $37.42. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 15.71 and a beta of 0.57.

LTC Properties (NYSE:LTC) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.17. The company had revenue of $94.41 million for the quarter, compared to analyst estimates of $72.98 million. LTC Properties had a return on equity of 10.87% and a net margin of 38.99%.LTC Properties’s quarterly revenue was up 94.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. As a group, equities research analysts expect that LTC Properties will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of LTC Properties from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of LTC Properties in a research report on Wednesday, June 10th. Weiss Ratings upgraded shares of LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Cantor Fitzgerald reduced their price target on shares of LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, LTC Properties has a consensus rating of “Moderate Buy” and an average target price of $40.60.

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.