LTC Properties, Inc. (LTC) to Distribute Monthly Dividend of $0.19 on September 30th

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Wednesday, July 1st. Investors of record on Tuesday, September 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 22nd.

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. 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 Price Performance

LTC opened at $39.24 on Friday. The business’s 50-day moving average is $37.70 and its two-hundred day moving average is $37.48. 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 firm has a market capitalization of $2.01 billion, a PE ratio of 15.89 and a beta of 0.57.

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

Wall Street Analyst Weigh In

LTC has been the subject of several recent analyst reports. Cantor Fitzgerald reduced their price objective on shares of LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Wells Fargo & Company lifted their price target on shares of LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Royal Bank Of Canada upped their price target on LTC Properties from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Friday, March 20th. Weiss Ratings raised LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Finally, Citigroup restated a “market outperform” rating on shares of LTC Properties in a research note on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.