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LTC Properties (LTC)
NYSE:LTC
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.55Last Year’s EPS
0.45Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive tone centered on a rapid strategic pivot to SHOP with clear quantitative targets: sizeable acquisition guidance ($600M midpoint), meaningful portfolio mix shift (25% to 45% SHOP), improved per-share results (FFO +8%, FAD +11%), and strengthened liquidity ($810M pro forma). Management also acknowledged risks: higher interest expense, competitive acquisition pressure, operator concentration (Prestige) being addressed, and future CapEx and variability risks tied to a smaller portfolio. On balance the forward-looking growth initiatives, healthy liquidity and demonstrated early SHOP outperformance outweigh the noted execution and market risks.Company Guidance
Aggressive SHOP Acquisition Guidance
Guidance to $600 million in SHOP acquisitions at the 2026 midpoint (nearly 70% higher than SHOP acquisitions in 2025); $108 million closed year-to-date with an additional $160 million expected to close in Q2 — nearly halfway to the midpoint.
Rapid SHOP Portfolio Growth
SHOP grew to 25% of the investment portfolio by year-end 2025 and is expected to reach 45% of the investment portfolio and 40% of NOI by year-end 2026, taking SHOP to over $1 billion of assets with average portfolio age of 9 years.
Strong Early SHOP Performance
Original 13 converted properties grew NOI 22% pro forma over 2024 and produced $16.2 million of combined rent and NOI in 2025 (vs. $12.3 million rent in 2024); remainder of SHOP portfolio contributed $5.9 million of NOI in Q4, about $0.7 million above midpoint guidance.
2026 SHOP NOI and Same-Store Expectations
Guidance for 27 SHOP properties assumes 14% NOI growth at the midpoint for full-year 2026 over pro forma 2025; 2025 occupancy for that subset was 89.7% projected to rise ~150 basis points in 2026; RevPOR growth projected ~5% and EXPOR ~2.5%.
Capital Deployment Track Record and Pipeline
2025 SHOP acquisitions of $360 million; by end of Q2 will have added an additional $270 million; acquisition pipeline >$500 million comprised entirely of SHOP opportunities; underwriting targets ~7% year-1 yields with expectation of unlevered IRRs in the low- to mid-teens.
Strengthened Financial Flexibility
Expanded credit facility to $800 million (including $200 million term loans); pro forma liquidity of $810 million including expected $270 million of asset sales/loan payoffs in 2026; minimal near-term maturities and debt to annualized adjusted EBITDA of 4.5x (within 4–5x target).
Improving Per-Share Operating Results
Core FFO per share rose $0.05 to $0.70 (8% year-over-year growth) and core FAD per share rose $0.07 to $0.73 (11% year-over-year growth). 2026 guidance: core FFO per share $2.75–$2.79 and core FAD per share $2.82–$2.86.
Portfolio De-risking Moves
Anticipated prepayment of the $180 million Prestige loan (yielding ~11%) and planned sale of 5 skilled nursing properties plus loan payoffs totaling ~$90 million in next 60 days expected to reduce loans to <10% of portfolio and skilled nursing exposure to <30% by end of 2026.
LTC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
LTC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | $39.05 | $39.60 | +1.41% |
Nov 04, 2025 | $34.85 | $34.85 | 0.00% |
Aug 04, 2025 | $33.48 | $33.88 | +1.18% |
May 05, 2025 | $32.80 | $33.94 | +3.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does LTC Properties (LTC) report earnings?
LTC Properties (LTC) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is LTC Properties (LTC) earnings time?
LTC Properties (LTC) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LTC EPS forecast?
LTC EPS forecast for the fiscal quarter 2026 (Q1) is 0.55.