Bank of America Corp DE Has $6.35 Million Stake in LTC Properties, Inc. $LTC

Key Points

• Bank of America increased its LTC Properties stake by 37% in the first quarter, holding 170,814 shares valued at approximately $6.35 million. Institutional investors collectively own 69.25% of the REIT.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $41.40, compared with the stock’s recent price of $40.53.
• LTC Properties reported quarterly EPS of $0.56, surpassing estimates of $0.48, while revenue rose 63.6% year over year to $98.08 million. The company also declared a monthly dividend of $0.19 per share, implying a 5.6% annualized yield.

Bank of America Corp DE increased its position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 37.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 170,814 shares of the real estate investment trust's stock after acquiring an additional 46,163 shares during the period. Bank of America Corp DE owned about 0.33% of LTC Properties worth $6,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of LTC Properties by 187.5% in the fourth quarter. Farther Finance Advisors LLC now owns 900 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 587 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in LTC Properties by 33.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,346 shares of the real estate investment trust's stock worth $46,000 after buying an additional 340 shares during the period. Hantz Financial Services Inc. boosted its position in LTC Properties by 27.7% during the 4th quarter. Hantz Financial Services Inc. now owns 1,606 shares of the real estate investment trust's stock worth $55,000 after buying an additional 348 shares during the period. KBC Group NV bought a new stake in LTC Properties during the 1st quarter worth approximately $78,000. Finally, Global Retirement Partners LLC bought a new stake in LTC Properties during the 4th quarter worth approximately $80,000. Institutional investors and hedge funds own 69.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LTC shares. Nomura upgraded shares of LTC Properties to a "neutral" rating in a report on Friday, August 14th. Weiss Ratings restated a "buy (b)" rating on shares of LTC Properties in a report on Wednesday, August 5th. Royal Bank Of Canada raised LTC Properties from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $41.00 to $45.00 in a research report on Friday, August 14th. Citigroup reaffirmed a "market outperform" rating on shares of LTC Properties in a report on Wednesday, June 10th. Finally, Wells Fargo & Company upped their price target on LTC Properties from $39.00 to $40.00 and gave the company an "equal weight" rating in a research report on Monday, June 1st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, LTC Properties has a consensus rating of "Moderate Buy" and a consensus target price of $41.40.

LTC Properties Price Performance

Shares of NYSE LTC opened at $40.53 on Thursday. LTC Properties, Inc. has a twelve month low of $33.64 and a twelve month high of $43.00. The firm has a fifty day simple moving average of $39.72 and a 200 day simple moving average of $38.77. The company has a market capitalization of $2.18 billion, a PE ratio of 14.96 and a beta of 0.56. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.58.

LTC Properties (NYSE:LTC - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The business had revenue of $98.08 million for the quarter, compared to analyst estimates of $79.01 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. LTC Properties's revenue for the quarter was up 63.6% on a year-over-year basis. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, sell-side analysts forecast that LTC Properties, Inc. will post 2.77 EPS for the current year.

LTC Properties Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be paid a $0.19 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 22nd. LTC Properties's payout ratio is currently 84.13%.

Insider Activity at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 3,125 shares of LTC Properties stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $39.54, for a total value of $123,562.50. Following the completion of the sale, the director directly owned 37,786 shares in the company, valued at approximately $1,494,058.44. The trade was a 7.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David L. Gruber purchased 3,500 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $38.30 per share, for a total transaction of $134,050.00. Following the completion of the purchase, the director owned 47,545 shares of the company's stock, valued at approximately $1,820,973.50. This trade represents a 7.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 14,000 shares of company stock worth $500,900 in the last 90 days. Corporate insiders own 2.20% of the company's stock.

LTC Properties 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.

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