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

LTC Properties, Inc. (NYSE:LTC) declared a monthly dividend on Wednesday, July 3rd, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.19 per share by the real estate investment trust on Monday, September 30th. This represents a $2.28 annualized dividend and a yield of 6.65%. The ex-dividend date is Friday, September 20th.

LTC Properties has a payout ratio of 121.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Performance

Shares of LTC opened at $34.28 on Thursday. The business has a 50-day simple moving average of $33.96 and a two-hundred day simple moving average of $32.66. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 0.94. LTC Properties has a 52 week low of $30.30 and a 52 week high of $35.72. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 17.85 and a beta of 0.89.

LTC Properties Company Profile

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.