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

Bank of New York Mellon Corp grew its position in shares of LTC Properties, Inc. (NYSE:LTC) by 6.1% in the 4th quarter, according to the company in its most recent Form 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 about 2.13% of LTC Properties worth $33,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in LTC Properties during the third quarter worth $36,000. GAMMA Investing LLC grew 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 worth $84,000 after buying an additional 638 shares in the last quarter. FMR LLC grew 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 worth $106,000 after buying an additional 1,653 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in LTC Properties during the third quarter worth $270,000. Finally, Van ECK Associates Corp grew 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 worth $265,000 after buying an additional 811 shares in the last quarter. Institutional investors own 69.25% of the company’s stock.

Insider Buying and Selling at LTC Properties

In other news, Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the completion of the acquisition, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. The trade was a 16.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

LTC Properties Price Performance

LTC opened at $36.07 on Friday. The stock’s 50 day simple moving average is $34.52 and its 200 day simple moving average 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. LTC Properties, Inc. has a 1 year low of $31.14 and a 1 year high of $39.89. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 15.48 and a beta of 0.96.

LTC Properties (NYSE:LTC) last released 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. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $34.81 million during the quarter, compared to analysts’ expectations of $45.25 million. As a group, analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LTC shares. JMP Securities upgraded LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Tuesday, January 7th. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th.

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.