Bank of New York Mellon Corp Has $33.46 Million Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

Bank of New York Mellon Corp trimmed its position in LTC Properties, Inc. (NYSE:LTC) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 943,957 shares of the real estate investment trust’s stock after selling 18,694 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.06% of LTC Properties worth $33,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in shares of LTC Properties by 9.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 822,724 shares of the real estate investment trust’s stock worth $28,425,000 after purchasing an additional 68,212 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of LTC Properties during the 4th quarter worth approximately $464,000. PNC Financial Services Group Inc. boosted its position in shares of LTC Properties by 28.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 565 shares in the last quarter. Amundi boosted its position in shares of LTC Properties by 47.5% during the 4th quarter. Amundi now owns 44,981 shares of the real estate investment trust’s stock worth $1,540,000 after acquiring an additional 14,493 shares in the last quarter. Finally, AlphaQuest LLC boosted its position in LTC Properties by 23,470.0% in the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 2,347 shares in the last quarter. 69.25% of the stock is owned by institutional investors.

Insider Activity at LTC Properties

In other news, EVP David M. Boitano acquired 6,000 shares of the company’s stock in a transaction dated Friday, June 27th. The shares were acquired at an average price of $34.71 per share, with a total value of $208,260.00. Following the purchase, the executive vice president directly owned 15,626 shares of the company’s stock, valued at $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by insiders.

LTC Properties Price Performance

LTC Properties stock opened at $35.22 on Wednesday. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $39.89. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 18.15 and a beta of 0.65. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average is $35.26 and its 200 day moving average is $34.96.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. Sell-side analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 24th will be given a $0.19 dividend. This represents a dividend yield of 6.47%. The ex-dividend date is Wednesday, July 23rd. LTC Properties’s payout ratio is currently 117.53%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $36.00 price objective on shares of LTC Properties in a research report on Monday, May 19th. Wedbush raised shares of LTC Properties to a “strong-buy” rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $38.00.

LTC Properties Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.