LTC Properties Inc (NYSE:LTC) declared a jan 18 dividend on Tuesday, January 2nd, RTT News reports. Investors of record on Tuesday, January 23rd will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, January 31st. This represents a yield of 5.23%. The ex-dividend date is Monday, January 22nd.
LTC Properties has raised its dividend by an average of 3.8% annually over the last three years and has raised its dividend every year for the last 6 years. LTC Properties has a dividend payout ratio of 74.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect LTC Properties to earn $3.12 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 73.1%.
LTC Properties (NYSE:LTC) opened at $40.53 on Wednesday. LTC Properties has a one year low of $40.29 and a one year high of $52.85. The firm has a market capitalization of $1,598.26, a P/E ratio of 18.17, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.84.
In other news, Director Boyd W. Hendrickson sold 1,500 shares of LTC Properties stock in a transaction on Monday, December 18th. The stock was sold at an average price of $47.07, for a total value of $70,605.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy Triche sold 2,720 shares of LTC Properties stock in a transaction on Friday, December 28th. The shares were sold at an average price of $43.35, for a total value of $117,912.00. Following the completion of the sale, the director now directly owns 34,656 shares of the company’s stock, valued at approximately $1,502,337.60. The disclosure for this sale can be found here. Insiders have sold 9,727 shares of company stock valued at $436,470 in the last three months. 1.50% of the stock is currently owned by company insiders.
LTC has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “sell” rating and issued a $44.00 price objective on shares of LTC Properties in a research note on Wednesday, October 18th. Zacks Investment Research downgraded LTC Properties from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. ValuEngine downgraded LTC Properties from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Royal Bank of Canada reissued a “hold” rating and set a $48.00 price target on shares of LTC Properties in a research report on Monday, October 23rd. Finally, KeyCorp reissued a “hold” rating on shares of LTC Properties in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. LTC Properties has an average rating of “Hold” and a consensus price target of $49.71.
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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