This REIT will announce quarterly earnings on July 30; analysts are forecasting $0.48 per share. The REIT has a current annual dividend yield of 5.96%, paid monthly.
LTC Properties, Inc. (LTC)
From Forbes Dividend Investor
Westlake Village, California-based LTC Properties is a real estate investment trust that invests in senior housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners. The portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties.
Funds from operations this year are expected to dip 3.9%, with revenue down 0.07% to $151.7 million. Discounts to historical valuations more than adequately reflect the tough year to be in the nursing home business. LTC trades at 12.3 times the next 12 months of expected funds from operations (FFO), 15.7% below the stock’s five-year average price/FFO multiple. It also trades 23.5% below its average price-to-sales ratio over the past five years.
LTC pays a monthly dividend at a rate of $0.19 per share. Earnings are due on July 30.
John Dobosz, Forbes Dividend Investor, www.newsletters.forbes.com, 212-367-3388, July 17, 2020