LTC Properties, Inc.
34.63-0.56 (-1.59%)
Oct 29, 4:00:02 PM EDT · NYSE · LTC · USD
Key Stats
Market Cap
1.60BP/E (TTM)
19.13Basic EPS (TTM)
1.81Dividend Yield
0.06%Recent Filings
8-K
LTC acquires Wisconsin seniors housing
LTC Properties completed the acquisition of five seniors housing communities with 520 units in Wisconsin on September 29, 2025, for $195 million. Funded via line of credit draws, loan payoff proceeds, and ATM stock sales, this bolsters LTC's portfolio in a key demographic market. Deal closed swiftly from local developers. Yet integration details remain undisclosed.
8-K
LTC updates 2025 guidance downward
LTC Properties slashed its 2025 GAAP net income guidance to $2.57-$2.59 per share after a $41.5 million non-cash write-off on a Prestige Healthcare mortgage amendment, allowing penalty-free prepayment from July 2026. Yet Core FFO holds at $2.68-$2.71 and Core FAD at $2.81-$2.83 per share, boosted by a new $58 million, 8.25% loan on California seniors housing. This non-cash hit stings earnings but spares cash flows. Risks linger if Prestige refinances early.
8-K
Amends equity distribution pact
LTC Properties amended its $400 million equity distribution agreement on August 5, 2025, adding RBC Capital Markets and BTIG as sales agents and forward sellers, while terminating BMO Capital Markets, Bank of Montreal, and Wedbush, leaving $376.4 million in unsold shares. This expands distribution channels for common stock sales under the existing shelf registration. Yet, the core terms stay intact.
8-K
LTC raises guidance amid SHOP expansion
LTC Properties reported Q2 2025 net income of $14.9 million, down from $19.2 million last year, as revenues climbed to $60.2 million from SHOP conversions of 13 properties worth $174.8 million, yet expenses surged on operating costs and transaction fees. The company raised full-year Core FFO guidance to $2.67-$2.71 per share, incorporating $400 million in investments that will double its SHOP portfolio to nearly 20% of assets. Growth accelerates, but operator risks like Genesis's bankruptcy loom.
10-Q
Q2 FY2025 results
LTC Properties posted Q2 revenue of $60.2M, up 20.2% y/y but down 3.8% q/q (derived), fueled by the launch of its SHOP segment with $12.0M in resident fees offsetting a $1.5M drop in rental income from converting 13 communities from triple-net leases. Operating income fell 17.8% y/y to $15.7M amid $9.4M in new seniors housing expenses and $6.7M in transaction costs, yet interest expense eased 26.5% y/y to $8.0M on lower debt. Diluted EPS dipped to $0.32 from $0.44 y/y, consistent with 46,028 weighted shares. Cash from operations hit $59.6M YTD, supporting $7.6M in cash and $256.5M revolver availability; total debt stood at $696.5M with no covenant issues. The new RIDEA structure adds operational risks. Regulatory shifts in Medicare SNF payments pose reimbursement pressures.
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