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

Bank of New York Mellon Corp lowered its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 2.06% of LTC Properties worth $33,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in shares of LTC Properties in the fourth quarter worth approximately $27,000. KBC Group NV purchased a new stake in LTC Properties in the first quarter worth $33,000. Rossby Financial LCC purchased a new stake in LTC Properties in the first quarter worth $58,000. Elite Financial Inc. purchased a new stake in LTC Properties in the first quarter worth $69,000. Finally, AlphaQuest LLC lifted its position in LTC Properties by 23,470.0% during the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock valued at $81,000 after buying an additional 2,347 shares during the period. Institutional investors own 69.25% of the company's stock.

LTC Properties Stock Performance

LTC traded up $0.12 on Friday, hitting $34.97. 400,290 shares of the company traded hands, compared to its average volume of 322,698. The company has a 50 day moving average of $35.21 and a 200-day moving average of $34.97. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.61 billion, a PE ratio of 18.03 and a beta of 0.65. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89.

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

LTC Properties Dividend Announcement

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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