Bank of New York Mellon Corp Buys Shares of 520,359 LTC Properties, Inc. $LTC

Bank of New York Mellon Corp purchased a new position in LTC Properties, Inc. (NYSE:LTC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 520,359 shares of the real estate investment trust's stock, valued at approximately $20,008,000. Bank of New York Mellon Corp owned 1.02% of LTC Properties as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Optiver Holding B.V. increased its holdings in shares of LTC Properties by 153.1% during the 1st quarter. Optiver Holding B.V. now owns 772 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 467 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of LTC Properties by 187.5% during the 4th quarter. Farther Finance Advisors LLC now owns 900 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 587 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of LTC Properties by 27.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,606 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 348 shares during the period. KBC Group NV acquired a new position in shares of LTC Properties in the first quarter valued at $78,000. Finally, Global Retirement Partners LLC acquired a new position in shares of LTC Properties in the fourth quarter valued at $80,000. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Timothy Triche sold 3,125 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 37,786 shares in the company, valued at $1,494,058.44. This represents a 7.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David M. Boitano acquired 10,000 shares of LTC Properties stock in a transaction on Thursday, June 4th. The stock was acquired at an average cost of $34.77 per share, for a total transaction of $347,700.00. Following the completion of the purchase, the executive vice president owned 46,160 shares of the company's stock, valued at approximately $1,604,983.20. The trade was a 27.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 14,000 shares of company stock valued at $500,900 over the last ninety days. Insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LTC. Cantor Fitzgerald reduced their price objective on shares of LTC Properties from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft raised shares of LTC Properties from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research report on Thursday. Wells Fargo & Company raised their price target on shares of LTC Properties from $39.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of LTC Properties in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada upgraded LTC Properties from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $41.00 to $45.00 in a research note on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, LTC Properties currently has an average rating of "Moderate Buy" and a consensus price target of $43.67.

LTC Properties Stock Performance

LTC Properties stock opened at $40.65 on Monday. The stock has a 50-day simple moving average of $39.90 and a 200 day simple moving average of $38.82. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.00 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, Inc. has a 12-month low of $33.64 and a 12-month high of $43.00.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $98.08 million for the quarter, compared to analysts' expectations of $79.01 million. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. LTC Properties's revenue was up 63.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, research analysts anticipate that LTC Properties, Inc. will post 2.78 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

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

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.

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