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

LTC Properties, Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, July 2nd, Wall Street Journal reports. Stockholders of record on Thursday, August 22nd will be given a dividend of 0.19 per share by the real estate investment trust on Friday, August 30th. This represents a $2.28 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend is Thursday, August 22nd.

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 Trading Down 0.6 %

NYSE:LTC opened at $34.28 on Thursday. LTC Properties has a one year low of $30.30 and a one year high of $35.72. The business has a fifty day moving average price of $33.96 and a 200-day moving average price of $32.66. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.94, a current ratio of 15.86 and a quick ratio of 15.86.

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.