Bank of America Corp DE Trims Holdings in LTC Properties, Inc. (NYSE:LTC)

Bank of America Corp DE lessened its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 59.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,872 shares of the real estate investment trust's stock after selling 135,261 shares during the period. Bank of America Corp DE owned approximately 0.21% of LTC Properties worth $3,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC lifted its holdings in LTC Properties by 23,470.0% during the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock worth $81,000 after buying an additional 2,347 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of LTC Properties by 28.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 565 shares during the last quarter. Summit Investment Advisors Inc. raised its position in LTC Properties by 7.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,678 shares of the real estate investment trust's stock worth $162,000 after buying an additional 327 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in LTC Properties by 4.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust's stock worth $237,000 after purchasing an additional 314 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of LTC Properties in the 4th quarter valued at approximately $250,000. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Price Performance

Shares of LTC stock traded down $0.15 during mid-day trading on Wednesday, reaching $34.92. The stock had a trading volume of 234,143 shares, compared to its average volume of 313,716. The company has a market cap of $1.60 billion, a P/E ratio of 14.99 and a beta of 0.68. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The business has a 50-day simple moving average of $35.18 and a 200 day simple moving average of $35.38.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. LTC Properties's revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. On average, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, May 22nd. This represents a dividend yield of 6.31%. LTC Properties's dividend payout ratio (DPR) is 117.53%.

Wall Street Analyst Weigh In

LTC has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $36.00 target price on shares of LTC Properties in a report on Monday, May 19th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.