LTC Properties Inc (LTC) to Issue Monthly Dividend of $0.19 on March 29th

LTC Properties Inc (NYSE:LTC) declared a monthly dividend on Thursday, January 3rd, Wall Street Journal reports. Stockholders of record on Thursday, March 21st will be given a dividend of 0.19 per share by the real estate investment trust on Friday, March 29th. This represents a $2.28 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Wednesday, March 20th.

LTC Properties has increased its dividend payment by an average of 3.3% annually over the last three years. LTC Properties has a dividend payout ratio of 75.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect LTC Properties to earn $3.13 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 72.8%.

NYSE:LTC opened at $45.12 on Friday. LTC Properties has a 1 year low of $34.46 and a 1 year high of $48.13. The firm has a market capitalization of $1.79 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 3.66 and a beta of 0.49. The company has a quick ratio of 9.97, a current ratio of 9.97 and a debt-to-equity ratio of 0.77.

Several research analysts recently weighed in on LTC shares. Royal Bank of Canada reaffirmed a “sell” rating and set a $40.00 target price on shares of LTC Properties in a research note on Tuesday, November 20th. BMO Capital Markets reaffirmed a “sell” rating and set a $40.00 target price on shares of LTC Properties in a research note on Thursday, December 6th. ValuEngine raised LTC Properties from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Finally, Zacks Investment Research raised LTC Properties from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.40.

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About LTC Properties

LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At September 30, 2018, LTC had 199 investments located in 28 states, comprising 103 assisted living communities, 95 skilled nursing centers and 1 behavioral health care hospital.

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Dividend History for LTC Properties (NYSE:LTC)

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