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LTC Properties
(NYSE:LTC)
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Rating:70Outperform
Price Target:
$48.00
â–²(17.97% Upside)
Action:Upgraded
Date:09/26/26
The score is driven primarily by solid fundamental profitability and improved leverage, plus strong technical uptrend signals. It is moderated by weaker recent free cash flow and earnings-call risks tied to near-term dilution, higher interest expense, and reliance on timely dispositions/loan payoffs to fund the SHOP transformation.
Positive Factors
Profitability and Revenue Growth
Strong profitability and accelerating revenue indicate that LTC is expanding earnings capacity while operating from a solid base. Although margins have varied, the combination of growth and a near-39% TTM net margin supports continued investment in the portfolio and strategic transformation.
Negative Factors
Weak Free Cash Flow
Negative TTM free cash flow reduces confidence in the amount of internally generated cash available for dividends, debt reduction, or new investments. The sharp change from prior periods suggests that capital needs or cash timing could remain an important constraint during the transformation.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and Revenue Growth
Strong profitability and accelerating revenue indicate that LTC is expanding earnings capacity while operating from a solid base. Although margins have varied, the combination of growth and a near-39% TTM net margin supports continued investment in the portfolio and strategic transformation.
Read all positive factors
LTC Properties Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how much rent and related revenue comes from each property type or business line, highlighting dependence on particular segments or tenants. Changes in segment revenue point to growth opportunities or concentration risks and help predict the impact of lease renewals, rent escalations, or tenant distress on overall top-line performance.
Shows how much rent and related revenue comes from each property type or business line, highlighting dependence on particular segments or tenants. Changes in segment revenue point to growth opportunities or concentration risks and help predict the impact of lease renewals, rent escalations, or tenant distress on overall top-line performance.
Data provided by:
The Fly
The FlyLTC Properties (LTC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.34B
Dividend Yield5.31%
Average Volume (3M)562.70K
Price to Earnings (P/E)15.2
Beta (1Y)0.15
Revenue Growth59.94%
EPS Growth49.34%
CountryUS
Employees25
SectorReal Estate
Sector Strength53
IndustryREIT - Healthcare Facilities
Share Statistics
EPS (TTM)2.82
Shares Outstanding53,905,563
10 Day Avg. Volume713,971
30 Day Avg. Volume562,703
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)1.48
Price to Sales (P/S)6.05
P/FCF Ratio11.69
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$45.50Price Target Upside11.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)2.14
Revenue Forecast (FY)$333.43M
LTC Properties Business Overview & Revenue Model
Company Description
LTC Properties, Inc. is a real estate investment trust, which engages in managing seniors' housing and health care properties. It operates through the Real Estate Investment Portfolio and SHOP segments. The Real Estate Investment Portfolio segment...
How the Company Makes Money
LTC Properties makes money primarily by investing in healthcare real estate and related real estate financing and earning recurring income from operators that use those assets.
Key revenue streams:
1) Rental income from leased properties (triple-...
LTC Properties Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call conveys a clear, execution-driven transformation toward a higher-growth SHOP-focused platform with multiple near-term achievements: materially increased acquisition guidance, accelerated SHOP NOI mix, sizable disposition proceeds, strengthened liquidity, and a quality acquisition pipeline. Near-term headwinds include flat-to-modest per-share results this year, dilution from ATM equity, increased interest expense, occupancy moderation versus internal pacing, and timing risk around asset sale proceeds and loan payoffs. Overall, management presents strong confidence in the multi-year growth thesis and execution, while acknowledging short-term trade-offs and timing risks.Positive Updates
Raised SHOP Acquisition Guidance
Increased 2026 SHOP acquisition guidance by 50% to $900 million at the midpoint; expect to have closed $700 million in SHOP acquisitions by end of Q3 and to surpass prior midpoint by $100 million.
Negative Updates
Flat Near-Term Per-Share Results
Core FFO per share was flat at $0.68 in Q2 2026 vs Q2 2025; Core FAD per share modestly declined to $0.70 from $0.71 year-over-year.
Read all updates
Q2-2026 Updates
Positive
Negative
Raised SHOP Acquisition Guidance
Increased 2026 SHOP acquisition guidance by 50% to $900 million at the midpoint; expect to have closed $700 million in SHOP acquisitions by end of Q3 and to surpass prior midpoint by $100 million.
Read all positive updates
Company Guidance
Management raised 2026 SHOP acquisition guidance 50% to $900M at the midpoint (having closed ~$700M by end‑September), expects $730M of 2026 proceeds from dispositions and loan payoffs (up $465M vs. prior), including a modeled $180M Prestige payoff on Oct 1, with a blended cap rate of 7.3% on total proceeds (incremental $465M at 5.5% on rent; skilled nursing $570M at ~7.5%; $160M of triple‑net seniors housing at 6.5%). By end‑September SHOP will be ~40% of pro‑forma annualized NOI (targeting 50% by year‑end and 75% by end‑2028), core SHOP pro‑forma NOI growth is forecast at 14% at the midpoint (Q2 core SHOP NOI $13.3M, up from $12.7M in Q1), and SHOP gross investments will exceed $1.3B by end‑Q3 (YTD closed ~$400M to end‑July, +$300M expected by end‑Q3, +$200M by year‑end; average age 9 years, ~76% in NIC primary markets, avg unit size ~110). Liquidity and capital metrics: pro‑forma liquidity $648M, unsecured revolver expanded (CEO referenced $1.1B facility; CFO noted revolver $900M), ATM sales netted $155M from 4.1M shares, debt/annualized adjusted EBITDA 4.2x, fixed charge coverage 4.9x; Q2 Core FFO/share $0.68 with 2026 Core FFO guidance narrowed to $2.76–$2.78 and Core FAD guidance $2.83–$2.85, and FAD CapEx is expected to be about $4M.LTC Properties Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
73
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 347.98M | 262.85M | 209.85M | 197.24M | 175.15M | 155.32M |
| Gross Profit | 234.43M | 197.48M | 196.92M | 183.97M | 159.67M | 139.93M |
| EBITDA | 217.82M | 197.24M | 171.58M | 175.89M | 169.52M | 121.89M |
| Net Income | 135.43M | 117.97M | 91.04M | 89.73M | 100.02M | 55.86M |
Balance Sheet | ||||||
| Total Assets | 2.18B | 2.06B | 1.79B | 1.86B | 1.66B | 1.50B |
| Cash, Cash Equivalents and Short-Term Investments | 40.44M | 14.39M | 9.41M | 20.29M | 10.38M | 5.16M |
| Total Debt | 779.50M | 844.76M | 684.60M | 891.32M | 767.85M | 722.72M |
| Total Liabilities | 835.23M | 899.68M | 733.14M | 938.83M | 805.80M | 759.70M |
| Stockholders Equity | 1.27B | 1.07B | 960.63M | 881.28M | 828.37M | 736.71M |
Cash Flow | ||||||
| Free Cash Flow | -30.10M | 135.98M | 125.17M | 104.40M | 96.59M | 91.18M |
| Operating Cash Flow | 141.52M | 135.98M | 125.17M | 104.40M | 105.59M | 91.18M |
| Investing Cash Flow | -347.89M | -269.94M | 90.68M | -174.91M | -119.95M | -69.79M |
| Financing Cash Flow | 239.20M | 138.94M | -226.72M | 80.42M | 19.58M | -24.01M |
LTC Properties Technical Analysis
Positive
40.69
Price Trends
40.91
Positive
39.11
Positive
37.57
Positive
Market Momentum
0.71
Positive
59.58
Neutral
57.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LTC, the sentiment is Positive. The current price of 40.69 is below the 20-day moving average (MA) of 42.14, below the 50-day MA of 40.91, and above the 200-day MA of 37.57, indicating a bullish trend. The MACD of 0.71 indicates Positive momentum. The RSI at 59.58 is Neutral, neither overbought nor oversold. The STOCH value of 57.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LTC.
LTC Properties Risk Analysis
LTC Properties disclosed 39 risk factors in its most recent earnings report. LTC Properties reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
LTC Properties Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $8.82B | 23.24 | 8.54% | 3.88% | 53.07% | 32.48% | |
74 Outperform | $14.04B | 16.01 | 16.51% | 5.81% | 15.18% | 72.69% | |
70 Outperform | $2.34B | 15.23 | 12.28% | 5.31% | 59.94% | 49.34% | |
68 Neutral | $3.30B | 19.29 | 10.96% | 5.50% | 23.77% | 10.04% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $5.05B | 75.19 | 2.34% | 6.05% | 18.43% | -65.50% | |
65 Neutral | $742.60M | 20.94 | 72.36% | 4.93% | 18.27% | 6.18% |
* Real Estate Sector Average
LTC
LTC Properties
42.94
8.75
25.58%
NHI
National Health Investors
66.92
-8.07
-10.76%
OHI
Omega Healthcare
46.28
7.11
18.14%
SBRA
Sabra Healthcare REIT
19.85
2.36
13.49%
CTRE
CareTrust REIT
37.41
4.41
13.37%
STRW
Strawberry Fields REIT Inc
13.40
1.69
14.45%
LTC Properties Corporate Events
Business Operations and StrategyExecutive/Board Changes
LTC Properties Adds Co-CEOs to Expanded Board
Positive
Sep 25, 2026
On September 22, 2026, LTC Properties expanded its Board of Directors from six to eight members and elected Co‑Presidents and Co‑CEOs Pam Kessler and Clint Malin as directors. The move, announced publicly on September 25, 2026, leaves ...
Business Operations and StrategyPrivate Placements and Financing
LTC Properties Launches Expanded Equity Distribution and Forward Program
Positive
Aug 6, 2026
On August 6, 2026, LTC Properties entered into a new equity distribution agreement and related forward sale arrangements with a syndicate of banks and dealers, enabling the company to issue and sell up to $500 million of common stock through at...
Regulatory Filings and Compliance
LTC Properties Updates Filing on New Financial Obligation
Neutral
Jun 30, 2026
On an unspecified date, LTC Properties issued a brief disclosure stating that the information provided under Item 1.01 of its filing is incorporated by reference into another section. This technical cross-reference suggests the company is linking ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.