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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Monday, July 1st, Zacks reports. Stockholders of record on Tuesday, July 23rd will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, July 31st. This represents a $2.28 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend is Tuesday, July 23rd.

LTC Properties has a dividend payout ratio of 121.3% 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 $2.70 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 84.4%.

LTC Properties Stock Down 0.2 %

LTC stock opened at $34.43 on Tuesday. The stock has a market cap of $1.50 billion, a PE ratio of 17.93 and a beta of 0.89. The firm’s 50-day simple moving average is $33.87 and its 200 day simple moving average is $32.64. LTC Properties has a fifty-two week low of $30.30 and a fifty-two week high of $35.72. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 0.94.

About LTC Properties

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.