LTC Properties (LTC)
Owns and finances senior housing and skilled nursing properties, including operator-managed communities.
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Owns and finances senior housing and skilled nursing real estate across the United States, earning resident fees through SHOP and rent or interest through triple-net leases and structured finance. Expanding SHOP increases direct exposure to community operating results, while third-party operators run the properties.
Invests in seniors housing and health-care real estate across the United States through two operating segments. SHOP earns resident fees from communities managed by independent operators; Real Estate Investments produces rent and interest through triple-net leases, financing receivables, mortgage and other loans, and joint ventures.
Builds the portfolio through acquisitions, lease conversions, operator relationships, and structured financing. SHOP's rapid expansion since launch has increased direct exposure to occupancy, resident rates, and operating costs, while triple-net and lending assets remain tied to tenant and borrower payments.
Results depend on third-party operators, tenant and borrower performance, access to capital, health-care licensing and reimbursement rules, and continued qualification as a REIT.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | Wells Fargo | Reiterate | Rating: —Target: $36 | Target: $42 |
| Aug 27, 2026 | Deutsche Bank | Upgrade | Rating: —Target: — | Target: $55 |
| Aug 14, 2026 | Nomura | Upgrade | Rating: — | |
| Aug 14, 2026 | RBC Capital | Upgrade | Target: $34 | Target: $45 |
| Jan 5, 2026 | Cantor Fitzgerald | Target | Target: $38 | Target: $36 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $40.4M · Total debt $779.5M · Total assets $2.18B · Shareholders' equity $1.27B
- Revenue
- $98.9M
- Operating income
- $23.3M
- Net income
- $29.6M
HistoryDividendAnnual yield
| Institutions | 81.52% | 43.95M shares | |
|---|---|---|---|
| 298 holders · as of Jun 30, 2026 | |||
| Insiders | 2.10% | 1.13M shares | |
| 11 holders · as of Aug 13, 2026 | |||
| Other | 16.38% | 8.83M shares | |
| remainder | |||
53.91M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.69% | 9.00M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 9.60% | 5.18M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.21% | 3.35M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.26% | 2.30M | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 2.78% | 1.50M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | David L. Gruber | director | +500 | $38.30 |
| Aug 11, 2026 | David L. Gruber | director | +3,500 | $38.30 |
| Jul 13, 2026 | Timothy Triche | director | −3,125 | $39.54 |
| Jun 4, 2026 | David M. Boitano | officer: EVP & CIO | +10,000 | $34.77 |
| May 21, 2026 | David L. Gruber | director | +4,000 | $38.41 |
- Omega Healthcare Investors
Skilled-nursing scale and newer RIDEA senior housing overlap
- National Health Investors
Close senior-housing, SHOP, and financing model peer
- CareTrust REIT
Net-lease skilled-nursing and seniors-housing capital peer
- Sabra Health Care REIT
Skilled-nursing and managed senior-housing overlap
- Welltower
Scale leader in seniors housing operating assets
- Ventas
SHOP-focused senior-housing acquisition competitor
- American Healthcare REIT
SHOP and integrated senior-health campus overlap
- Diversified Healthcare Trust
Senior-living REIT overlap with weaker skilled-nursing fit
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| LTC Properties | $42.38 | −1.18% | $2.19B | 15.4 | 21.5 | 6.3 | −46.2% |
| Omega Healthcare Investors | $46.37 | −0.99% | $14.01B | 16.7 | 23.9 | 10.8 | +11.5% |
| National Health Investors | $67.42 | −0.67% | $3.29B | 19.6 | 19.8 | 7.6 | +1.6% |
| CareTrust REIT | $37.32 | −0.97% | $8.90B | 23.4 | 23.0 | 16.4 | +37.4% |
| Sabra Health Care REIT | $19.82 | −0.23% | $5.01B | 75.7 | 27.3 | 5.8 | +24.7% |
| Welltower | $230.76 | −0.86% | $167.72B | 123.2 | 83.3 | 13.3 | +39.1% |
| Ventas | $86.93 | −0.11% | $42.31B | 161.2 | 120.3 | 6.6 | +21.7% |
| American Healthcare REIT | $51.72 | −1.11% | $10.81B | 76.9 | 74.3 | 4.3 | +23.7% |
| Diversified Healthcare Trust | $8.13 | +0.12% | $1.97B | — | — | 1.3 | −4.5% |
| Median | 75.7 | 27.3 | 7.1 | +22.7% |