Bank of New York Mellon Corp Sells 18,694 Shares of LTC Properties, Inc. (NYSE:LTC)

Bank of New York Mellon Corp reduced its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 943,957 shares of the real estate investment trust's stock after selling 18,694 shares during the quarter. Bank of New York Mellon Corp owned about 2.06% of LTC Properties worth $33,463,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LTC. GF Fund Management CO. LTD. acquired a new stake in shares of LTC Properties during the 4th quarter worth approximately $27,000. KBC Group NV bought a new position in shares of LTC Properties during the first quarter valued at $33,000. Rossby Financial LCC acquired a new position in LTC Properties during the 1st quarter worth about $58,000. Elite Financial Inc. acquired a new position in shares of LTC Properties in the first quarter worth approximately $69,000. Finally, AlphaQuest LLC boosted its stake in shares of LTC Properties by 23,470.0% in the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 2,347 shares during the last quarter. Institutional investors own 69.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $36.00 target price on shares of LTC Properties in a research note on Monday, May 19th. Wedbush upgraded LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, LTC Properties has a consensus rating of "Buy" and a consensus price target of $38.00.

LTC Properties Stock Performance

Shares of LTC traded up $0.12 on Friday, reaching $34.97. 400,290 shares of the company's stock traded hands, compared to its average volume of 322,698. The stock has a market cap of $1.61 billion, a PE ratio of 18.03 and a beta of 0.65. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $39.89. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 0.65. The stock's 50 day simple moving average is $35.21 and its two-hundred day simple moving average is $34.97.

LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $49.03 million for the quarter, compared to the consensus estimate of $44.43 million. LTC Properties had a net margin of 42.16% and a return on equity of 8.48%. LTC Properties's revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the company posted $0.69 earnings per share. On average, analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 24th will be issued a $0.19 dividend. This represents a yield of 6.47%. The ex-dividend date of this dividend is Wednesday, July 23rd. LTC Properties's payout ratio is 117.53%.

Insider Buying and Selling

In related news, EVP David M. Boitano purchased 6,000 shares of the business's stock in a transaction on Friday, June 27th. The stock was acquired at an average price of $34.71 per share, with a total value of $208,260.00. Following the purchase, the executive vice president directly owned 15,626 shares in the company, valued at approximately $542,378.46. This represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by insiders.

About LTC Properties

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.