LTC Properties (LTC)
NYSE:LTC
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LTC Properties
(NYSE:LTC)
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Rating:69Neutral
Price Target:
$43.00
â–²(10.14% Upside)
Action:ReiteratedDate:02/25/26
The score is driven primarily by improving fundamentals and constructive forward guidance around the SHOP growth pivot and liquidity, supported by bullish technical trend signals. Offsetting these positives are weakened cash-flow-to-debt coverage and a stretched P/E multiple, which raise balance-sheet and valuation risk if execution falls short.
Positive Factors
Revenue Growth
Consistent multi-year revenue acceleration (2023→2025) indicates demand resilience and successful portfolio growth initiatives. Durable top-line expansion supports recurring rent and interest income, improves coverage of fixed costs and underpins capacity to fund SHOP acquisitions over the next 2–6 months.
Negative Factors
Weak Cash-Flow Coverage
A decline in cash-flow-to-debt coverage to ~0.21 indicates a thinner cash buffer relative to debt stock. This reduces the company's ability to absorb earnings or interest-rate shocks and limits margin for error as LTC scales SHOP, increasing refinancing and payout vulnerability if cash flow softens.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent multi-year revenue acceleration (2023→2025) indicates demand resilience and successful portfolio growth initiatives. Durable top-line expansion supports recurring rent and interest income, improves coverage of fixed costs and underpins capacity to fund SHOP acquisitions over the next 2–6 months.
Read all positive factors
LTC Properties (LTC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.89B
Dividend Yield6.7%
Average Volume (3M)414.31K
Price to Earnings (P/E)13.5
Beta (1Y)0.20
Revenue Growth11.89%
EPS Growth-68.41%
CountryUS
Employees23
SectorReal Estate
Sector Strength53
IndustryREIT - Healthcare Facilities
Share Statistics
EPS (TTM)2.11
Shares Outstanding48,509,760
10 Day Avg. Volume335,440
30 Day Avg. Volume414,313
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 Cap1.44
Enterprise Value/Revenue10.36
Enterprise Value/Gross Profit13.79
Enterprise Value/Ebitda13.81
Forecast
1Y Price Target
$39.67Price Target Upside1.61% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)1.96
Revenue Forecast (FY)$280.03M
LTC Properties Business Overview & Revenue Model
Company Description
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine le...
How the Company Makes Money
LTC Properties generates revenue primarily through leasing its properties to operators of senior living and healthcare facilities. The company earns rental income from long-term leases, which are typically structured to provide predictable cash fl...
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 Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
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.Positive Updates
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.
Negative Updates
Interest Expense and Rent Headwinds
Core FFO/FAD growth was partially offset by increased interest expense and decreased rents related to asset sales, indicating near-term pressure from financing costs and portfolio recycling activity.
Read all updates
Q4-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
Management guided 2026 SHOP acquisitions of $400M–$800M (midpoint $600M, all SHOP at midpoint) with SHOP NOI of $65M–$77M and FAD CapEx of ≈$5M; full-year core FFO per share $2.75–$2.79 and core FAD per share $2.82–$2.86 (Q1: core FFO $0.66–$0.68; core FAD $0.68–$0.70). Year-to-date LTC has closed $108M of SHOP and expects $160M to close in Q2 (2025 SHOP acquisitions were $360M) with a >$500M SHOP pipeline; SHOP is expected to grow from 25% of the portfolio at YE‑2025 to ~45% of the portfolio and >$1B of SHOP assets by YE‑2026 and to represent ~40% of NOI. Guidance for the 27 SHOP properties assumes ~14% NOI growth at the midpoint vs. pro‑forma 2025, 2025 occupancy of 89.7% projected to rise ≈150 bps in 2026, RevPOR ≈+5% and EXPOR ≈+2.5%; management is underwriting year‑1 acquisition yields near 7% (noting some assets priced ~7.7%) and targeting unlevered IRRs in the low‑ to mid‑teens. On the balance sheet, pro forma liquidity is ~$810M (including ~$270M expected asset sale/loan payoff proceeds), debt/annualized adj. EBITDA was 4.5x, fixed‑charge coverage 4.4x, FAD payout <80%, and the $180M Prestige loan prepayment (expected ~July) plus ~$90M of near‑term dispositions/payoffs will reduce loans to <10% of the portfolio and skilled nursing to <30%.LTC Properties Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
67
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 262.85M | 209.85M | 197.24M | 175.15M | 155.32M |
| Gross Profit | 197.48M | 196.92M | 183.97M | 159.67M | 139.93M |
| EBITDA | 197.24M | 171.58M | 175.89M | 169.52M | 121.89M |
| Net Income | 117.97M | 91.04M | 89.73M | 100.02M | 55.86M |
Balance Sheet | |||||
| Total Assets | 2.06B | 1.79B | 1.86B | 1.66B | 1.50B |
| Cash, Cash Equivalents and Short-Term Investments | 14.39M | 9.41M | 20.29M | 10.38M | 5.16M |
| Total Debt | 844.76M | 684.60M | 891.32M | 767.85M | 722.72M |
| Total Liabilities | 899.68M | 733.14M | 938.83M | 805.80M | 759.70M |
| Stockholders Equity | 1.07B | 960.63M | 881.28M | 828.37M | 736.71M |
Cash Flow | |||||
| Free Cash Flow | 135.98M | 125.17M | 104.40M | 96.59M | 91.18M |
| Operating Cash Flow | 135.98M | 125.17M | 104.40M | 105.59M | 91.18M |
| Investing Cash Flow | -269.94M | 90.68M | -174.91M | -119.95M | -69.79M |
| Financing Cash Flow | 138.94M | -226.72M | 80.42M | 19.58M | -24.01M |
LTC Properties Technical Analysis
Positive
39.04
Price Trends
37.90
Positive
36.37
Positive
35.28
Positive
Market Momentum
-0.01
Negative
58.88
Neutral
94.20
Negative
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 39.04 is above the 20-day moving average (MA) of 37.92, above the 50-day MA of 37.90, and above the 200-day MA of 35.28, indicating a bullish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 58.88 is Neutral, neither overbought nor oversold. The STOCH value of 94.20 is Negative, 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.34B | 38.71 | 2.44% | 6.98% | 3.74% | 77.82% | |
69 Neutral | $1.89B | 13.47 | 11.94% | 6.70% | 11.89% | -68.41% | |
66 Neutral | $476.58M | 86.44 | 1.16% | 12.08% | 3.40% | -240.85% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $584.40M | 30.78 | 10.87% | 7.51% | 0.68% | -1.34% | |
54 Neutral | $1.70B | -4.08 | -15.98% | 0.80% | 4.10% | 8.96% |
* Real Estate Sector Average
LTC
LTC Properties
39.04
7.27
22.86%
DHC
Diversified Healthcare Trust
7.03
4.72
203.93%
CHCT
Community Healthcare
16.68
2.13
14.62%
UHT
Universal Health Realty Income
42.12
6.99
19.91%
SILA
Sila Realty Trust, Inc.
24.22
-0.19
-0.79%
LTC Properties Corporate Events
Business Operations and StrategyPrivate Placements and Financing
LTC Properties Amends Credit Agreement, Boosts Commitment
Positive
Dec 15, 2025
On December 12, 2025, LTC Properties, Inc. amended its Credit Agreement with several banks, increasing its aggregate commitment from $600 million to $800 million. This amendment includes new term loans maturing between 2028 and 2032, with interest...
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.