LTC Properties, Inc. $LTC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in LTC Properties, Inc. (NYSE:LTC) by 9.1% in the first quarter, Holdings Channel.com reports. The fund owned 506,844 shares of the real estate investment trust’s stock after selling 50,756 shares during the period. Bank of New York Mellon Corp’s holdings in LTC Properties were worth $18,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in LTC Properties by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 7,238,012 shares of the real estate investment trust’s stock worth $248,843,000 after purchasing an additional 125,889 shares during the last quarter. State Street Corp increased its stake in LTC Properties by 2.0% during the second quarter. State Street Corp now owns 3,163,763 shares of the real estate investment trust’s stock valued at $109,498,000 after purchasing an additional 61,678 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of LTC Properties by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,266,992 shares of the real estate investment trust’s stock worth $43,566,000 after purchasing an additional 12,547 shares during the period. Advisors Capital Management LLC raised its holdings in shares of LTC Properties by 1.7% during the fourth quarter. Advisors Capital Management LLC now owns 763,536 shares of the real estate investment trust’s stock worth $26,250,000 after purchasing an additional 12,847 shares during the period. Finally, Nuveen LLC lifted its position in shares of LTC Properties by 5.9% in the 4th quarter. Nuveen LLC now owns 682,198 shares of the real estate investment trust’s stock worth $23,454,000 after buying an additional 38,202 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of LTC Properties from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Weiss Ratings upgraded shares of LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Cantor Fitzgerald dropped their price objective on shares of LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Finally, Citigroup reissued a “market outperform” rating on shares of LTC Properties in a report on Wednesday, June 10th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, LTC Properties presently has a consensus rating of “Hold” and a consensus target price of $40.60.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano bought 10,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $34.77 per share, for a total transaction of $347,700.00. Following the transaction, the executive vice president directly owned 46,160 shares in the company, valued at $1,604,983.20. The trade was a 27.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy Triche sold 3,125 shares of LTC Properties stock in a transaction on Monday, July 13th. The shares were sold at an average price of $39.54, for a total value of $123,562.50. Following the sale, the director directly owned 37,786 shares in the company, valued at $1,494,058.44. The trade was a 7.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.20% of the company’s stock.

LTC Properties Trading Down 0.6%

Shares of NYSE:LTC opened at $41.66 on Thursday. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $38.60 and its 200 day moving average price is $38.30. The company has a market cap of $2.13 billion, a PE ratio of 16.86 and a beta of 0.57. LTC Properties, Inc. has a fifty-two week low of $33.64 and a fifty-two week high of $43.00.

LTC Properties (NYSE:LTC) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.69 EPS for the quarter, topping the consensus estimate of $0.52 by $0.17. LTC Properties had a net margin of 38.99% and a return on equity of 10.87%. The firm had revenue of $94.41 million during the quarter, compared to analysts’ expectations of $72.98 million. During the same quarter in the prior year, the firm earned $0.65 EPS. LTC Properties’s quarterly revenue was up 94.7% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. Sell-side analysts anticipate that LTC Properties, Inc. will post 2.8 earnings per share for the current year.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be issued a $0.19 dividend. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 22nd. LTC Properties’s dividend payout ratio is 92.31%.

LTC Properties Company Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.