Bank of New York Mellon Corp Acquires 55,254 Shares of LTC Properties, Inc. (NYSE:LTC)

Bank of New York Mellon Corp lifted its stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 962,651 shares of the real estate investment trust's stock after acquiring an additional 55,254 shares during the quarter. Bank of New York Mellon Corp owned 2.13% of LTC Properties worth $33,260,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LTC. Harbor Capital Advisors Inc. purchased a new stake in shares of LTC Properties in the third quarter valued at $36,000. GAMMA Investing LLC raised its holdings in LTC Properties by 35.3% during the fourth quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust's stock valued at $84,000 after buying an additional 638 shares in the last quarter. FMR LLC raised its holdings in LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust's stock valued at $106,000 after buying an additional 1,653 shares in the last quarter. Van ECK Associates Corp raised its holdings in LTC Properties by 12.3% during the third quarter. Van ECK Associates Corp now owns 7,382 shares of the real estate investment trust's stock valued at $265,000 after buying an additional 811 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in LTC Properties during the third quarter valued at about $270,000. Hedge funds and other institutional investors own 69.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LTC. Citizens Jmp raised LTC Properties from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. JMP Securities raised LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a research report on Tuesday, January 7th.

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LTC Properties Price Performance

Shares of NYSE:LTC traded up $0.31 during trading on Friday, reaching $36.07. The stock had a trading volume of 445,347 shares, compared to its average volume of 273,130. LTC Properties, Inc. has a 52 week low of $31.14 and a 52 week high of $39.89. The business's 50-day moving average price is $34.55 and its 200 day moving average price is $36.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The stock has a market capitalization of $1.64 billion, a PE ratio of 15.48 and a beta of 0.96.

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. The firm had revenue of $34.81 million during the quarter, compared to analysts' expectations of $45.25 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. As a group, equities analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently announced a jan 25 dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be paid a $0.19 dividend. This represents a yield of 6.45%. The ex-dividend date is Friday, March 21st. LTC Properties's payout ratio is presently 111.22%.

Insider Buying and Selling

In related news, Director David L. Gruber bought 3,000 shares of LTC Properties stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the purchase, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

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.