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LTC Properties Q3 revenue surges on SHOP acquisitions

By Reuters News


Overview

  • US seniors housing REIT's Q3 revenue surged yr/yr, driven by SHOP acquisitions

  • Diluted core FFO per share for Q3 rose slightly from prior year

  • Company raised 2026 SHOP investment guidance midpoint and narrowed SHOP NOI outlook


Outlook

  • LTC raises 2026 SHOP investment mid-point guidance to $1 bln from $900 mln

  • Company narrows 2026 SHOP NOI guidance to $73.5 mln-$76.4 mln from $71.2 mln-$79.9 mln

  • LTC reaffirms 2026 full-year diluted EPS guidance of $8.08-$8.10, Core FFO $2.76-$2.78, Core FAD $2.83-$2.85


Result Drivers

  • SHOP ACQUISITIONS - Co said Q3 revenue increase was primarily driven by acquisitions and conversions in its seniors housing operating portfolio

  • LEASE TERMINATION FEE - Co said Q3 revenue was boosted by a lease termination fee received related to the sale of leased properties

  • GAIN ON SALE - Co said net income rose mainly due to an increase in gain on sale of real estate assets


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$115.25 mln

$26.36 mln (2 Analysts)

Q3 EPS

$6.39


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the specialized reits peer group is "buy."

  • Wall Street's median 12-month price target for LTC Properties, Inc. is $46.00, about 1.9% above its November 2 closing price of $45.14

  • The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 21 three months ago


Reuters Recommended Reads

  • Nov 2 - Sabra Health Care REIT Q3 revenue rises year-over-year

  • Nov 2 - Diversified Healthcare Trust Q3 net loss narrows amid occupancy growth

  • Nov 2 - Senior housing REIT Janus Living's Q3 revenue jumps 78%, FFO up 46%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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