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

Bank of America Corp DE raised its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 37.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,814 shares of the real estate investment trust’s stock after purchasing an additional 46,163 shares during the quarter. Bank of America Corp DE’s holdings in LTC Properties were worth $6,347,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LTC. Eversept Partners LP bought a new stake in LTC Properties during the first quarter worth $11,930,000. Goldman Sachs Group Inc. lifted its stake in LTC Properties by 177.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 323,798 shares of the real estate investment trust’s stock valued at $11,132,000 after acquiring an additional 207,043 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in LTC Properties during the 4th quarter worth $6,556,000. Millennium Management LLC boosted its holdings in LTC Properties by 74.1% during the 3rd quarter. Millennium Management LLC now owns 442,930 shares of the real estate investment trust’s stock worth $16,326,000 after acquiring an additional 188,447 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of LTC Properties by 47.4% in the 3rd quarter. Two Sigma Investments LP now owns 483,004 shares of the real estate investment trust’s stock worth $17,804,000 after acquiring an additional 155,226 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Insider Buying and Selling

In other news, 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, with a total value of $347,700.00. Following the completion of the acquisition, the executive vice president owned 46,160 shares in the company, valued at approximately $1,604,983.20. This trade represents a 27.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy Triche sold 3,125 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,494,058.44. This represents a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have purchased 14,000 shares of company stock valued at $500,900. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LTC. Nomura upgraded shares of LTC Properties to a “neutral” rating in a report on Friday, August 14th. Cantor Fitzgerald dropped their target price on shares of LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of LTC Properties in a research note on Wednesday, August 5th. Royal Bank Of Canada raised LTC Properties from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $45.00 in a report on Friday, August 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of LTC Properties in a research report on Wednesday, June 10th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, LTC Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.40.

LTC Properties Price Performance

LTC opened at $40.53 on Thursday. LTC Properties, Inc. has a fifty-two week low of $33.64 and a fifty-two week high of $43.00. The firm has a 50-day moving average of $39.72 and a 200 day moving average of $38.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 8.60 and a current ratio of 8.60. The firm has a market cap of $2.18 billion, a P/E ratio of 14.96 and a beta of 0.56.

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

LTC Properties Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 5.6%. LTC Properties’s dividend payout ratio (DPR) 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.