LTC Properties (LTC)
NYSE:LTC
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Earnings Data
Report Date
Jul 23, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.49Last Year’s EPS
0.32Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call is optimistic about LTC Properties' strategic transformation into higher-growth SHOP investments: management provided multiple concrete metrics—SHOP to reach ~40% of NOI, on-track to $600M midpoint acquisitions, robust $5B pipeline, pro forma liquidity of $775M, and reiterated guidance for core FFO/FAD. Execution risks and short-term headwinds were acknowledged, including a transactional timing delay, temporary occupancy seasonality, rising interest and G&A costs, a mix-driven decline in RevPOR, and leverage toward the upper end of the target range. Overall, the positive operational progress, clear pipeline and funding, and repeatedly reiterated SHOP growth math materially outweigh the noted short-term and execution risks.Company Guidance
SHOP Strategy and Portfolio Mix Shift
SHOP projected to represent 45% of total investments and 40% of annualized NOI by year-end, materially enhancing LTC's long-term growth profile and ability to grow FFO and FAD per share above historical rates.
On-Track Acquisition Execution
On track with $600 million SHOP acquisition midpoint guidance; more than halfway to that target with expected Q2 and Q3 closings. So far closed ~ $120M YTD with nearly $250M on course to close in Q2 and signed LOIs for ~$90M in Q3.
Large and Growing Pipeline
Robust pipeline with over $5 billion of opportunities under consideration, and management believes a comparable level of annual investment (~$600M) is sustainable in 2027 and beyond.
Core SHOP Portfolio Growth Profile
Core SHOP portfolio of 27 stabilized communities reiterating prior guidance of ~14% pro forma NOI growth at the midpoint; company expects SHOP to drive overall pro forma portfolio growth to 5%–7% at a 40% SHOP NOI mix (up from low-2% in triple-net leases).
Strong Liquidity Position
Current liquidity of $585M (including $95M YTD ATM sales) and pro forma liquidity of $775M with ~$190M expected proceeds from asset sales and loan payoffs, providing a long investment runway for SHOP acquisitions.
Healthy Leverage and Coverage Metrics
Pro forma debt to annualized adjusted EBITDA for real estate at 4.4x and annualized adjusted fixed charge coverage ratio at 4.6x, within stated leverage target of 4x–5x.
Improvement in Per-Share Metrics
Compared with last year's Q1, core FFO per share improved by $0.04 to $0.69 and core FAD per share improved by $0.02 to $0.72 (company stated these represent '63% growth, respectively' in remarks).
Attractive Acquisition Economics
Reported going-in yields / cap rates on SHOP acquisitions approximately 7%; prior skilled nursing dispositions achieved ~8% caps, indicating attractive market pricing to recycle capital into SHOP.
Operator Relationships and Scale
By end of Q2 will have 11 SHOP operators (9 new in past year), with many deals sourced off-market (65%), and management retaining operators on the majority of closed communities, supporting follow-on investments and growth.
Curated Asset Quality and Portfolio Characteristics
Pipeline characteristics highlighted: average asset age ~10 years, average community size ~100 units, ~60% of communities span IL/AL/memory care continuum, and ~70% in primary markets—supporting competitive positioning versus new supply.
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 |
|---|---|---|---|
May 06, 2026 | $38.47 | $38.62 | +0.39% |
Feb 24, 2026 | $38.66 | $39.20 | +1.41% |
Nov 04, 2025 | $34.49 | $34.49 | 0.00% |
Aug 04, 2025 | $33.15 | $33.54 | +1.18% |
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 Jul 23, 2026, After Close (Confirmed).
What is LTC Properties (LTC) earnings time?
LTC Properties (LTC) earnings time is at Jul 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 (Q2) is 0.49.