Dividend Coverage: This Senior Healthcare REIT has a Dividend Yield of 4.66%; Will Trade Ex-Dividend on September 20, 2017
LONDON, UK / ACCESSWIRE / September 19, 2017 / Pro-Trader Daily takes a closer look at LTC Properties, Inc. (NYSE: LTC) as the Company's stock will begin trading ex-dividend on September 20, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of trading session on September 19, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On July 03, 2017, LTC Properties announced that it had declared a monthly cash dividend on its common stock for Q3 2017. The Company declared a monthly cash dividend of $0.19 per common share per month for September 2017, payable on September 29, 2017, to stockholders of record on September 21, 2017.
LTC Properties' indicated dividend represents a yield of 4.66%, which is substantially higher compared to the average dividend yield of 3.17% for the Financial sector. The Company has raised its dividend for five consecutive years.
Dividend Insights
LTC Properties has a dividend payout ratio of 74.3%, which indicates that the Company distributes approximately $0.74 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, LTC Properties is forecasted to report earnings of $2.23 for the next year compared to the Company's annualized dividend of $2.28. LTC Properties is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.
Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the Companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization to earnings, subtracting any gains on sales which provides a better picture of company's profitability and capacity to pay and sustain dividends. For instance, for the quarter ended June 30, 2017, LTC Properties' net income allocable to common shareholders was $25.3 million, or $0.64 per diluted share, while its FFO grew 7.6% to $31.4 million, or $0.79 per diluted common share, for Q2 2017 which should sufficiently cover the dividend payout.
As of June 30, 2017, LTC Properties' cash and cash equivalents totaled $9.30 million compared to $7.99 million at December 31, 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
About LTC properties
LTC properties is a real estate investment trust that invests in seniors housing and healthcare properties primarily through sale-leaseback transactions, mortgage financing, and structured finance solutions including mezzanine lending. The Company's portfolio currently includes more than 200 assisted living communities, memory care communities and post-acute/skilled nursing centers, located in 30 states with more than 30 regional and national operating partners.
Stock Performance
On Monday, September 18, 2017, the stock closed the trading session at $48.32, falling 1.25% from its previous closing price of $48.93. A total volume of 290.03 thousand shares have exchanged hands, which was higher than the 3-month average volume of 214.83 thousand shares. LTC Properties' stock price advanced 0.96% in the last one month and 5.07% in the past six months. Furthermore, since the start of the year, shares of the Company have gained 2.85%. The stock is trading at a PE ratio of 21.27 and has a dividend yield of 4.72%. The stock currently has a market cap of $1.91 billion.
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