LTC Properties Inc (NYSE:LTC) declared a monthly dividend on Wednesday, January 3rd, Wall Street Journal reports. Shareholders of record on Thursday, March 22nd will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, March 30th. This represents a $2.28 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date is Wednesday, March 21st.
LTC Properties has increased its dividend payment by an average of 4.8% per year over the last three years and has raised its dividend every year for the last 5 years. LTC Properties has a dividend payout ratio of 74.0% meaning its dividend is sufficiently covered by earnings. Analysts expect LTC Properties to earn $3.14 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 72.6%.
LTC Properties (NYSE LTC) traded down $0.15 on Wednesday, hitting $43.58. The stock had a trading volume of 171,447 shares, compared to its average volume of 185,124. LTC Properties has a 12 month low of $43.21 and a 12 month high of $52.85. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,720.00, a P/E ratio of 19.63, a PEG ratio of 3.47 and a beta of 0.18.
In other news, Director Timothy Triche sold 2,720 shares of the business’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $43.35, for a total transaction of $117,912.00. Following the sale, the director now directly owns 34,656 shares of the company’s stock, valued at $1,502,337.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Boyd W. Hendrickson sold 2,787 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $46.66, for a total value of $130,041.42. The disclosure for this sale can be found here. Insiders have sold 9,727 shares of company stock worth $436,470 over the last ninety days. 1.50% of the stock is owned by insiders.
A number of analysts have recently commented on LTC shares. KeyCorp reissued a “hold” rating on shares of LTC Properties in a research note on Tuesday, October 17th. Capital One Financial started coverage on LTC Properties in a research note on Monday, September 25th. They issued an “overweight” rating and a $50.00 price objective on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $48.00 price objective on shares of LTC Properties in a research note on Monday, October 23rd. Zacks Investment Research downgraded LTC Properties from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. Finally, ValuEngine downgraded LTC Properties from a “buy” rating to a “hold” rating in a research note on Sunday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.17.
LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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