Tearsheet

LTC Properties (LTC)

Market Price (11/5/2025): $35.48 | Market Cap: $1.6 Bil
Sector: Real Estate | Industry: Health Care REITs

LTC Properties (LTC)

Market Price (11/5/2025): $35.48
Market Cap: $1.6 Bil
Sector: Real Estate
Industry: Health Care REITs

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 6.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.2%, FCF Yield is 7.8%	Trading close to highs Dist 52W High is -3.8%, Dist 3Y High is -3.8%
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 58%	Weak multi-year price returns 2Y Excs Rtn is -33%, 3Y Excs Rtn is -63%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 58%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 58%
3	Low stock price volatility Vol 12M is 18%

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 6.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.2%, FCF Yield is 7.8%
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 58%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 58%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 58%
3	Low stock price volatility Vol 12M is 18%
4	Trading close to highs Dist 52W High is -3.8%, Dist 3Y High is -3.8%
5	Weak multi-year price returns 2Y Excs Rtn is -33%, 3Y Excs Rtn is -63%

Market Valuation & Key Metrics

	11/5/25	2024	2023	2022	2021
Share Price CYE	$35.48	$32.74	$28.48	$29.44	$26.64
Market Cap CYE ($ Bil)	1.6	1.5	1.2	1.2	1.0
Total Debt ($ Bil)	0.7	0.7	0.9	0.8	0.7
Total Cash ($ Bil)	0.0	0.0	0.0	0.0	0.0
Enterprise Value ($ Bil)	2.3	2.2	2.1	2.0	1.7
Valuation Ratios
P/S TTM	7.5	7.2	6.7	8.1	8.6
P/EBIT TTM	13.1	11.2	9.6	10.7	16.0
P/E TTM	19.5	16.6	14.8	14.2	23.9
Sector Ratios
P/S TTM (Sector)	3.7	4.0	4.2	4.3	6.6
P/EBIT TTM (Sector)	11.0	12.3	12.8	13.1	16.0
P/E TTM (Sector)	16.4	18.7	18.3	17.9	23.1

	11/5/25	2024	2023
Share Price CYE	$35.48	$32.74	$28.48
Market Cap CYE ($ Bil)	1.6	1.5	1.2
Total Debt ($ Bil)	0.7	0.7	0.9
Total Cash ($ Bil)	0.0	0.0	0.0
Enterprise Value ($ Bil)	2.3	2.2	2.1
Valuation Ratios
P/S TTM	7.5	7.2	6.7
P/EBIT TTM	13.1	11.2	9.6
P/E TTM	19.5	16.6	14.8
Sector Ratios
P/S TTM (Sector)	3.7	4.0	4.2
P/EBIT TTM (Sector)	11.0	12.3	12.8
P/E TTM (Sector)	16.4	18.7	18.3

	LTC	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	0.2
Rev Chg Q	20.2%	6.7%
Rev Chg LTM	8.3%	5.6%
Rev Chg 3Y Avg	10.7%	5.3%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	58.3%	18.8%
CFO/Rev LTM	58.2%	20.4%
Net Inc Mgn	38.2%	12.9%
VALUATION	MODERATE
P/S	7.5	3.1
P/CFO	12.8	15.2
P/FCF	12.8	20.3
P/E	19.5	23.7

AI Generated Analysis | Feedback

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LTC Stock

Return (1M): 1.74%

Factor Drivers of Stock Movement

The 2.9% change in LTC stock from 8/5/2025 to 11/4/2025 was primarily driven by a 2.9% change in the company's P/E Multiple.

	8052025	11042025	Change
Stock Price ($)	34.59	35.58	2.85%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	217.64	217.64	0.00%
Net Income Margin (%)	38.24%	38.24%	0.00%
P/E Multiple	19.00	19.54	2.85%
Shares Outstanding (Mil)	45.71	45.71	0.00%
Cumulative Contribution			2.85%

LTM = Last Twelve Months as of date shown

The 2.7% change in LTC stock from 5/6/2025 to 11/4/2025 was primarily driven by a 8.8% change in the company's P/E Multiple.

	5062025	11042025	Change
Stock Price ($)	34.66	35.58	2.66%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	207.51	217.64	4.88%
Net Income Margin (%)	42.16%	38.24%	-9.30%
P/E Multiple	17.96	19.54	8.83%
Shares Outstanding (Mil)	45.33	45.71	-0.84%
Cumulative Contribution			2.65%

LTM = Last Twelve Months as of date shown

The 0.5% change in LTC stock from 11/4/2024 to 11/4/2025 was primarily driven by a 27.4% change in the company's P/E Multiple.

	11042024	11042025	Change
Stock Price ($)	35.40	35.58	0.51%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	207.46	217.64	4.91%
Net Income Margin (%)	48.77%	38.24%	-21.60%
P/E Multiple	15.35	19.54	27.35%
Shares Outstanding (Mil)	43.87	45.71	-4.21%
Cumulative Contribution			0.33%

LTM = Last Twelve Months as of date shown

The 11.4% change in LTC stock from 11/5/2022 to 11/4/2025 was primarily driven by a 44.3% change in the company's P/E Multiple.

	11052022	11042025	Change
Stock Price ($)	31.93	35.58	11.42%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	166.75	217.64	30.51%
Net Income Margin (%)	56.92%	38.24%	-32.82%
P/E Multiple	13.55	19.54	44.26%
Shares Outstanding (Mil)	40.27	45.71	-13.52%
Cumulative Contribution			9.38%

LTM = Last Twelve Months as of date shown

Why The Stock Moved

AI Generated Analysis | Feedback

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
LTC Return	-8%	-7%	11%	-3%	15%	9%	14%
Peers Return	-17%	10%	-14%	15%	19%	21%	30%
S&P 500 Return	16%	27%	-19%	24%	23%	15%	112%
Monthly Win Rates [3]
LTC Win Rate	50%	50%	58%	33%	83%	60%
Peers Win Rate	60%	53%	42%	57%	67%	62%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
LTC Max Drawdown	-43%	-15%	-2%	-10%	-5%	-3%
Peers Max Drawdown	-57%	-10%	-26%	-13%	-15%	-6%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: VTR, HR, SBRA, UHT, WELL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/4/2025 (YTD)

How Low Can It Go

Unique Key	Event	LTC	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-31.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	45.1%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-49.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	97.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-33.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	51.1%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	546 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-51.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	107.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1139 days	1480 days

Compare to VTR, HR, SBRA, UHT, WELL

In The Past

LTC Properties's stock fell -31.1% during the 2022 Inflation Shock from a high on 8/30/2022. A -31.1% loss requires a 45.1% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About LTC Properties (LTC)

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 lending. LTC holds 181 investments in 27 states with 29 operating partners. The portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties.

AI Generated Analysis | Feedback

Here are 1-3 brief analogies for LTC Properties:

Prologis for seniors housing and healthcare properties.
Simon Property Group for senior living communities and medical care facilities.

AI Generated Analysis | Feedback

Real Estate Leasing of Healthcare Properties: LTC leases a diversified portfolio of senior housing and skilled nursing facilities to healthcare operators across the United States.
Real Estate Financing and Investment: The company provides capital solutions to healthcare operators through mortgage loans, sale-leaseback transactions, and joint venture investments in healthcare real estate.

AI Generated Analysis | Feedback

LTC Properties (NYSE: LTC) is a real estate investment trust (REIT) that invests in seniors housing and skilled nursing properties. As such, its customers are primarily healthcare operating companies that lease these facilities. LTC Properties does not sell directly to individuals.

Based on their publicly available information (such as their investor presentations and SEC filings), LTC Properties leases to a diverse group of regional and national healthcare operators. While they generally aim for tenant diversity to mitigate risk, here are some examples of major customer companies (operators) that have historically constituted significant portions of their portfolio or are prominent partners:

Brookdale Senior Living Inc. (NYSE: BKD) - A major operator of senior living communities in the United States.
Prestige Healthcare Management - A privately held operator of skilled nursing and assisted living facilities.
Senior Care Centers - A privately held operator of skilled nursing facilities, primarily in Texas.
Signature HealthCARE - A privately held operator of skilled nursing and rehabilitation centers.
Genesis HealthCare Inc. (NYSE: GEN) - While LTC has reduced its exposure over time, Genesis has historically been a significant tenant for many healthcare REITs, including LTC.

It's important to note that tenant concentration can shift over time as LTC acquires, disposes, and re-leases properties. They strive for a diversified tenant base, and the names above represent prominent operators within their portfolio at various points.

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Wendy Simpson Executive Chairman

Wendy Simpson has served as Executive Chairman of LTC Properties since 2024, having previously been the company's CEO and President from 2007 to December 2024. She joined LTC in 2000 as Vice Chairman and has also held roles as Treasurer, Chief Financial Officer, and Chief Operating Officer. Prior to her tenure at LTC, Ms. Simpson held executive positions in public companies that owned acute care hospitals, long-term acute care hospitals (LTACHs), psychiatric hospitals, and home health services. She began her career in public accounting and has over 25 years of experience in healthcare-related businesses. Notably, she managed the LTAC division of Community Psychiatric Centers, which was later sold to what is now Kindred.

Pamela Shelley-Kessler Co-Chief Executive Officer, Co-President

Pamela Shelley-Kessler was appointed Co-Chief Executive Officer of LTC Properties in December 2024 and Co-President in May 2020. She has served as the company's Chief Financial Officer and Secretary since 2007, and as Executive Vice President, Chief Financial Officer and Secretary since 2010. Ms. Shelley-Kessler joined LTC in 2000 as Vice President, Controller and Secretary. Before joining LTC, she was the Corporate Controller for a privately held commercial and multifamily real estate developer. She also served as Director of Financial Reporting for Irvine Apartment Communities, an apartment REIT, and as Assistant Controller for the Inland Empire division of KB Home, a publicly traded homebuilder. She started her career as a Senior Accountant in the Real Estate Group at Ernst & Young LLP.

Clint Malin Co-Chief Executive Officer, Co-President

Clint Malin was appointed Co-Chief Executive Officer of LTC Properties in December 2024 and Co-President in May 2020. He joined LTC in 2004 as Vice President and Chief Investment Officer, a role he will retain until a successor is named. Before joining LTC, Mr. Malin was the Vice President of Corporate Real Estate for Sun Healthcare Group, Inc., which is now Genesis HealthCare. He began his career in public accounting with KPMG and Arthur Andersen.

Cece Chikhale Executive Vice President, Chief Financial Officer, Treasurer and Secretary

Cece Chikhale was appointed Executive Vice President, Chief Financial Officer, Treasurer and Secretary of LTC Properties, effective December 31, 2024. She has been LTC's Executive Vice President, Chief Accounting Officer and Treasurer since 2020. Ms. Chikhale joined LTC in 2002 as an Accounting Manager and has also served as Senior Vice President, Controller and Treasurer, and Vice President, Assistant Controller and Assistant Treasurer. Prior to her time at LTC, she was a Senior Auditor at Ernst & Young.

Michael Bowden Senior Vice President, Investments

Michael Bowden was appointed Senior Vice President of Investments at LTC Properties in February 2025. He joined the company in 2016 and served as Vice President of Investments since 2019. Prior to his work at LTC, Mr. Bowden held positions at a high-net-worth single-family office and The Carlyle Group, a prominent private equity firm. He began his professional career at Ernst & Young.

AI Generated Analysis | Feedback

Persistent and severe labor shortages in the skilled nursing and seniors housing sectors: Operators of LTC's properties are facing unprecedented challenges due to chronic shortages of nurses, certified nursing assistants (CNAs), and other care staff. This drives up labor costs significantly through higher wages and reliance on agency staff, eroding operator margins. This financial pressure increases the risk of tenant defaults, lease restructurings, and rent concessions, directly impacting LTC's revenue stability.
Accelerating "aging in place" trend supported by technology and evolving consumer preferences: A growing preference among seniors to remain in their homes for as long as possible, increasingly enabled by advancements in telehealth, remote monitoring devices, smart home technologies, and robust in-home care services, poses a threat. This trend could lead to lower-than-projected occupancy rates and slower demand growth for traditional assisted living and skilled nursing facilities, potentially impacting LTC's asset valuations and future development opportunities.

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LTC Properties Addressable Markets

LTC Properties (NYSE: LTC) is a real estate investment trust (REIT) that specializes in investing in seniors housing and healthcare properties. The company's main products or services involve providing capital to operators of these facilities primarily through sale-leaseback transactions, mortgage financing, and structured finance solutions. Their portfolio is diversified, with approximately 60% in seniors housing and 40% in skilled nursing properties, all within the United States.

The addressable markets for LTC Properties' main products and services in the U.S. are substantial:

U.S. Senior Living Market: This market was estimated at approximately USD 907.59 billion in 2024 and is projected to reach USD 1.33 trillion by 2033, demonstrating a compound annual growth rate (CAGR) of 4.42% from 2025 to 2033. Other estimates place the U.S. senior living market at USD 125.44 billion in 2024, growing to USD 185.47 billion by 2032, with a CAGR of 5.01% from 2026 to 2032.
U.S. Skilled Nursing Facility Market: This market was estimated at USD 199.72 billion in 2024 and is expected to grow to USD 290.02 billion by 2033, with a CAGR of 4.39% from 2025 to 2033. Another report indicates the U.S. skilled nursing facility market is valued at USD 202.4 billion in 2025 and is anticipated to reach USD 279.9 billion by 2035, growing at a CAGR of 3.3% over that period.

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Here are 3-5 expected drivers of future revenue growth for LTC Properties (LTC) over the next 2-3 years:

Expansion of Seniors Housing Operating Portfolio (SHOP) and RIDEA Conversions: LTC Properties is strategically shifting towards and aggressively expanding its Seniors Housing Operating Portfolio (SHOP) through RIDEA (Real Estate Investment Diversification and Empowerment Act) conversions and new acquisitions. This strategy allows LTC to participate in the operational upside of its properties, potentially accelerating earnings and Funds From Operations (FFO) growth. The company raised its 2025 investment guidance to $460 million, primarily driven by this SHOP growth, with a goal for SHOP to comprise nearly 20% of its total portfolio by the end of 2025, and further expansion planned for 2026 and beyond.
Strategic Acquisitions and Investments: LTC is actively pursuing new investments and funding mortgage loans, particularly within the seniors housing sector. For example, in the third quarter of 2024, the company committed to funding a $26.1 million mortgage loan. More recently, in Q2 2025, LTC reported plans to close additional investments totaling approximately $320 million, including a $60 million mortgage loan and $260 million in stabilized SHOP investments, indicating continued inorganic growth initiatives.
Rent Resets and Lease-Up in Existing Portfolio: The company anticipates increased revenue from market-based rent resets within its existing portfolio. For its portfolio of properties subject to market-based rent resets, LTC initially expected to collect $4.8 million in rent in 2025, up from $3.7 million in 2024. This projection was further increased to $5.7 million for 2025, reflecting an approximate 50% increase from the $3.4 million collected from these properties in 2024 on a same-property basis. Continued lease-up in certain operational portfolios, such as the Anthem portfolio, is also expected to contribute to revenue growth.
Occupancy Recovery and Improved Operator Performance: The broader seniors housing and skilled nursing facility (SNF) sectors are experiencing a recovery, with expectations for performance to surpass pre-COVID levels. LTC has observed occupancy increases in specific segments of its portfolio, such as the Prestige portfolio, which saw a 740 basis point increase year-over-year. Improved performance and staffing efficiencies from operators, such as Anthem, are also contributing factors to expected occupancy and revenue improvements.
Capital Recycling: LTC is strategically divesting older skilled nursing assets and reinvesting the proceeds into newer seniors housing communities. This capital recycling strategy aims to enhance portfolio quality and align with the company's focus on private-pay seniors housing, which is expected to shift the portfolio from a roughly equal balance of private-pay seniors housing and skilled nursing to a 65-35% split favoring seniors housing.

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Better Bets than LTC Properties (LTC)

	LTC	Better Performance than LTC
Metric	Value	Industry (Health Care REITs)
Rev Chg LTM	8.3%	WELL (32.6%), VTR (15.7%), OHI (13.7%), DOC (9.6%), AHR (10.2%)
Rev Chg 3Y Avg	10.7%	WELL (20.9%), DOC (11.6%), CTRE (14.1%), HR (24.9%), STRW (14.3%)
Op Mgn LTM	58.3%	OHI (62.4%)
CFO/Rev LTM	58.2%	OHI (76.2%), CTRE (113.6%), NHI (60.9%), SILA (63.6%), STRW (63.2%)
FCF/Rev LTM	58.2%	OHI (76.2%), CTRE (108.7%), NHI (60.2%), SILA (61.9%), STRW (58.8%)
Total Yield	11.6%	GMRE (17.6%)

	LTC	Better Performance than LTC
Metric	Value	Sector (Real Estate)
Rev Chg LTM	8.3%	WELL (32.6%), PLD (10.7%), O (15.6%), CBRE (15.0%), VTR (15.7%)
Rev Chg 3Y Avg	10.7%	WELL (20.9%), PLD (18.1%), O (24.7%), VICI (23.5%), CSGP (13.1%)
Op Mgn LTM	58.3%	VICI (92.6%), GLPI (72.7%), OHI (62.4%), NNN (61.7%), EPRT (63.6%)
CFO/Rev LTM	58.2%	PLD (59.3%), SPG (66.6%), O (67.9%), PSA (67.3%), VICI (62.0%)
FCF/Rev LTM	58.2%	PLD (59.3%), O (67.9%), PSA (61.2%), VICI (62.0%), WPC (75.9%)
Total Yield	11.6%	VICI (14.3%), SUI (12.5%), GLPI (12.8%), HST (11.6%), VNO (15.2%)

	LTC	Better Performance than LTC
Metric	Value	All Other Sectors
Rev Chg LTM	8.3%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AVGO (28.0%)
Rev Chg 3Y Avg	10.7%	NVDA (92.0%), MSFT (13.2%), GOOGL (11.0%), AMZN (11.3%), AVGO (24.0%)
Op Mgn LTM	58.3%	V (66.5%), MA (58.3%), MO (59.0%), CME (65.0%), FNV (68.3%)
CFO/Rev LTM	58.2%	V (60.4%), RY (135.4%), SCHW (82.3%), CME (65.0%), CM (61.6%)
FCF/Rev LTM	58.2%	RY (131.7%), SCHW (79.4%), CME (63.8%), MFC (60.3%), ARES (82.4%)
Total Yield	11.6%	BABA (38.4%), TM (2051.5%), MRK (11.6%), T (12.7%), VZ (18.8%)

		Best Bets In Real Estate Sector
	LTC	CTRE	WPC	ADC	NNN	OHI	O	EPRT	GLPI	EPR	FCPT
What You Pay
P/E	19.5	31.0	39.8	41.6	18.9	23.6	55.4	24.4	16.5	18.9	22.7
P/EBIT	13.2	27.0	21.0	24.8	12.8	16.1	24.7	17.1	10.8	11.5	15.4
What You Get
Rev Chg Q	20.2%	55.3%	8.5%	18.7%	4.6%	12.9%	4.2%	23.7%	3.2%	4.3%	11.0%
Rev Chg LTM	8.3%	29.7%	5.6%	14.7%	4.8%	13.7%	15.6%	24.2%	4.4%	4.2%	8.3%
Rev Chg 3Y Avg	10.7%	14.1%	5.6%	19.5%	6.1%	6.3%	24.7%	24.2%	7.4%	3.9%	9.5%
FCF/Rev 3Y Avg	56.9%	88.4%	84.4%	73.1%	73.6%	71.6%	71.0%	69.3%	65.4%	63.9%	61.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	How Low Can LTC Properties Stock Really Go?	Return
2	Why LTC Properties Stock Moved: LTC Stock Has Gained 29% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues
3	LTC Dip Buy Analysis
4	Time To Buy LTC Properties Stock?	Buy or Fear
5	LTC Properties (LTC) Valuation Ratios Comparison	Financials
6	LTC Properties Total Shareholder Return (TSR): 21.5% in 2024 and 14.2% 3-yr compounded annual returns (above peer average)
7	LTC Properties (LTC) Operating Cash Flow Comparison	Financials
8	LTC Properties (LTC) Net Income Comparison	Financials
9	LTC Properties (LTC) Operating Income Comparison	Financials
10	LTC Properties (LTC) Revenue Comparison	Financials

	Title
0	ARTICLES
1	How Low Can LTC Properties Stock Really Go?
2	Why LTC Properties Stock Moved: LTC Stock Has Gained 29% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues
3	LTC Dip Buy Analysis
4	Time To Buy LTC Properties Stock?
5	LTC Properties (LTC) Valuation Ratios Comparison
6	LTC Properties Total Shareholder Return (TSR): 21.5% in 2024 and 14.2% 3-yr compounded annual returns (above peer average)
7	LTC Properties (LTC) Operating Cash Flow Comparison
8	LTC Properties (LTC) Net Income Comparison
9	LTC Properties (LTC) Operating Income Comparison
10	LTC Properties (LTC) Revenue Comparison

Trade Ideas

Select past ideas related to LTC. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
MPW_10312025_Short_Squeeze	10312025	MPW	Medical Properties Trust	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-1.5%	-1.5%	-1.5%
LTC_9302022_Quality_Momentum_RoomToRun_10%	09302022	LTC	LTC Properties	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-3.3%	-8.4%	-13.4%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
MPW_10312025_Short_Squeeze	10312025	MPW	Medical Properties Trust	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-1.5%	-1.5%	-1.5%
LTC_9302022_Quality_Momentum_RoomToRun_10%	09302022	LTC	LTC Properties	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-3.3%	-8.4%	-13.4%

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Peer Comparisons for LTC Properties

Financials

	LTC	VTR	HR	SBRA	UHT	WELL	Median
Name	LTC Prop.	Ventas	Healthca.	Sabra He.	Universa.	Welltower
Mkt Price	35.58	74.92	17.61	17.98	38.61	184.35	37.09
Mkt Cap	1.6	34.2	6.2	4.3	0.5	124.0	5.2
Rev LTM	218	5,555	1,185	733	99	9,752	959
Op Inc LTM	127	818	61	271	36	1,580	199
FCF LTM	127	968	157	339	48	2,746	248
FCF 3Y Avg	115	687	228	316	46	2,065	272
CFO LTM	127	1,549	463	339	48	2,787	401
CFO 3Y Avg	115	1,297	491	316	46	2,113	403

Growth & Margins

	LTC	VTR	HR	SBRA	UHT	WELL	Median
Name	LTC Prop.	Ventas	Healthca.	Sabra He.	Universa.	Welltower
Rev Chg LTM	8.3%	15.7%	-6.8%	9.8%	0.1%	32.6%	9.0%
Rev Chg 3Y Avg	10.7%	10.7%	24.9%	7.9%	4.3%	20.9%	10.7%
Rev Chg Q	20.2%	20.4%	-5.6%	7.4%	0.5%	30.7%	13.8%
QoQ Delta Rev Chg LTM	4.9%	4.8%	-1.5%	1.8%	0.1%	6.8%	3.3%
Op Mgn LTM	58.3%	14.7%	5.2%	37.0%	36.2%	16.2%	26.2%
Op Mgn 3Y Avg	59.0%	12.0%	4.6%	35.4%	35.1%	15.1%	25.1%
QoQ Delta Op Mgn LTM	-2.8%	0.0%	1.1%	0.0%	-0.8%	0.7%	0.0%
CFO/Rev LTM	58.2%	27.9%	39.1%	46.2%	49.1%	28.6%	42.6%
CFO/Rev 3Y Avg	56.9%	26.3%	38.8%	46.8%	47.2%	26.8%	42.8%
FCF/Rev LTM	58.2%	17.4%	13.2%	46.2%	49.1%	28.2%	37.2%
FCF/Rev 3Y Avg	56.9%	13.8%	17.8%	46.8%	47.2%	26.1%	36.5%

Valuation

	LTC	VTR	HR	SBRA	UHT	WELL	Median
Name	LTC Prop.	Ventas	Healthca.	Sabra He.	Universa.	Welltower
Mkt Cap	1.6	34.2	6.2	4.3	0.5	124.0	5.2
P/S	7.5	6.2	5.2	5.8	5.4	12.7	6.0
P/EBIT	13.2	42.7	-39.8	14.5	13.2	82.5	13.9
P/E	19.5	143.5	-16.8	23.5	29.8	129.1	26.6
P/CFO	12.8	22.1	13.3	12.6	11.0	44.5	13.1
Total Yield	11.6%	3.1%	0.7%	10.9%	11.0%	0.8%	7.0%
Dividend Yield	6.4%	2.4%	6.7%	6.6%	7.6%	0.0%	6.5%
FCF Yield 3Y Avg	7.8%	2.8%	3.7%	9.2%	7.9%	2.7%	5.8%
D/E	0.4	0.4	0.8	0.6	0.7	0.1	0.5
Net D/E	0.4	0.4	0.8	0.6	0.7	0.1	0.5

Returns

	LTC	VTR	HR	SBRA	UHT	WELL	Median
Name	LTC Prop.	Ventas	Healthca.	Sabra He.	Universa.	Welltower
1M Rtn	-0.6%	7.4%	-1.5%	-0.9%	0.3%	5.3%	-0.1%
3M Rtn	2.9%	9.8%	5.4%	0.5%	-0.1%	8.6%	4.1%
6M Rtn	2.7%	15.5%	20.0%	3.9%	3.5%	23.6%	9.7%
12M Rtn	0.5%	19.9%	9.8%	3.0%	3.2%	39.8%	6.5%
3Y Rtn	11.4%	110.7%	8.2%	68.3%	-2.7%	226.4%	39.8%
1M Excs Rtn	1.6%	7.7%	-1.2%	-0.0%	3.4%	5.4%	2.5%
3M Excs Rtn	-3.9%	3.4%	-0.8%	-7.4%	-3.3%	2.4%	-2.1%
6M Excs Rtn	-18.1%	-5.3%	-0.7%	-16.9%	-17.2%	2.8%	-11.1%
12M Excs Rtn	-19.4%	-0.9%	-8.7%	-19.5%	-13.7%	20.5%	-11.2%
3Y Excs Rtn	-62.9%	36.0%	-67.1%	-5.7%	-76.3%	149.9%	-34.3%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	8/4/2025	2/24/2025	2/15/2024	2/16/2023	2/17/2022	2/18/2021	2/20/2020
Key Financials
Total Revenue	218	210	197	175	155	159	185
Net Income	83	91	90	100	56	95	81
EPS	1.84	2.07	2.16	2.49	1.41	2.42	2.03
Growth Rates
Total Revenue Growth	8.3%	6.4%	12.6%	12.8%	-2.5%	-14.0%	9.9%
Net Income Growth	-11.5%	1.5%	-10.3%	79.1%	-41.4%	18.3%	-48.0%
Margins
Net Income Margin	38.2%	43.4%	45.5%	57.1%	36.0%	59.8%	43.5%
Cash & Debt
Total Cash	8	9	20	10	5	8	4
Total Debt	696	685	891	768	723	649	693
Net Debt / (Cash)	689	675	871	757	718	642	689
Cash Flows
Net Cash from Operations	127	125	104	106	91	116	122
Free Cash from Operations	127	125	104	106	91	116	122
Returns to Shareholders
Dividends	105	101	95	92	90	90	91
Share Repurchases	-0	-0	-0	-0	-0	18	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	8/4/2025	5/5/2025	2/24/2025	10/28/2024	7/29/2024	4/29/2024	2/15/2024	10/26/2023	7/27/2023	4/27/2023	2/16/2023	10/27/2022
Key Financials Quarterly
Total Revenue	60	49	53	56	50	51	50	49	48	50	48	44
Net Income	15	21	18	29	19	24	28	22	6	33	18	13
EPS	0.33	0.45	0.40	0.66	0.44	0.56	0.67	0.54	0.15	0.80	0.44	0.33
Key Financials TTM
Total Revenue TTM	218	208	210	207	201	199	197	195	189	184	175	167
Net Income TTM	83	87	91	101	94	81	90	79	71	119	100	95
Growth Rates Quarterly
Total Revenue Growth	20.2%	-4.5%	4.8%	13.1%	3.9%	3.8%	4.9%	13.3%	12.1%	21.4%	21.3%	16.1%
Net Income Growth	-22.0%	-14.7%	-35.9%	32.3%	213.6%	-26.9%	57.4%	67.0%	-88.6%	129.9%	39.7%	20.6%
Margins Quarterly
Net Income Margin	25.1%	42.2%	34.4%	52.6%	38.6%	47.2%	56.2%	45.0%	12.8%	66.9%	37.5%	30.5%
Cash & Debt
Total Cash	8	23	9	35	6	9	20	11	7	6	10	6
Total Debt	696	682	685	785	861	860	891	956	953	901	768	794
Net Debt / (Cash)	689	659	675	750	855	851	871	945	946	896	757	787
Cash Flows Quarterly
FCF from Operations	30	30	33	34	37	21	25	32	28	18	33	24
Cash Flows TTM
FCF from Operations TTM	127	134	125	117	116	107	104	112	104	105	106	94
Returns to Shareholders Quarterly
Dividends	26	27	26	25	25	25	24	24	24	24	23	23
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	6.8%	6.1%	7.5%	8.1%	6.5%	7.0%	6.0%	6.4%	6.2%	6.3%	6.8%	5.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	7.1%	7.2%	7.5%	7.0%	6.5%	6.5%	6.2%	6.2%	5.8%	5.7%	5.7%	5.2%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Single Segment	197	175
Interest and other income			1	2	3
Interest income from financing receivables			0
Interest income from mortgage loans			33	31	30
Rental income			121	126	153
Total	197	175	155	159	185

Price Behavior

Price Behavior

Market Price	$35.58
Market Cap ($ Bil)	1.6
First Trading Date	08/25/1992
Distance from 52W High	-3.8%
	50 Days	200 Days
DMA Price	$35.45	$34.39
DMA Trend	indeterminate	indeterminate
Distance from DMA	0.4%	3.5%
	3M	1YR
Volatility	15.4%	17.6%
Downside Capture	-13.44	19.61
Upside Capture	5.76	16.58
Correlation (SPY)	2.6%	22.9%

LTC Betas & Captures as of 10/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	-0.02	-0.02	0.04	0.05	0.21	0.37
Up Beta	1.02	0.81	0.92	0.18	0.32	0.35
Down Beta	-0.31	-0.33	-0.33	-0.20	0.12	0.27
Up Capture	-39%	-16%	7%	5%	8%	13%
Bmk +ve Days	14	27	37	74	145	425
Stock +ve Days	10	19	34	69	132	398
Down Capture	18%	6%	-25%	6%	29%	73%
Bmk -ve Days	9	17	28	53	106	327
Stock -ve Days	13	25	30	57	116	346

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of LTC With Other Asset Classes (Last 1Y)
	LTC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-2.7%	-4.4%	17.5%	40.7%	2.0%	-4.1%	45.5%
Annualized Volatility	17.9%	17.9%	19.7%	19.9%	16.3%	18.0%	36.9%
Sharpe Ratio	-0.30	-0.40	0.70	1.60	-0.06	-0.38	0.80
Correlation With Other Assets		59.2%	23.2%	21.5%	13.1%	58.7%	5.5%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of LTC With Other Asset Classes (Last 5Y)
	LTC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	7.8%	6.7%	16.4%	15.1%	12.9%	6.6%	50.5%
Annualized Volatility	21.6%	19.3%	17.2%	15.6%	18.9%	19.1%	49.2%
Sharpe Ratio	0.30	0.27	0.78	0.77	0.57	0.26	0.77
Correlation With Other Assets		57.6%	33.4%	13.4%	12.9%	61.1%	10.4%

Based On 10-Year Data

		Comparison of LTC With Other Asset Classes (Last 10Y)
	LTC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	3.9%	6.3%	14.5%	12.5%	5.3%	5.1%	80.1%
Annualized Volatility	27.1%	20.7%	18.0%	14.7%	17.7%	20.9%	56.2%
Sharpe Ratio	0.18	0.27	0.69	0.69	0.23	0.22	0.97
Correlation With Other Assets		69.3%	49.4%	10.7%	20.0%	74.6%	12.9%

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	2,224,764
Short Interest: % Change Since 9302025	-8.8%
Average Daily Volume	331,487
Days-to-Cover Short Interest	6.71
Basic Shares Quantity	45,714,000
Short % of Basic Shares	4.9%

Returns Analyses

	Title
0	How Low Can LTC Properties Stock Really Go?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
6302025	8042025	10-Q 6/30/2025
3312025	5052025	10-Q 3/31/2025
12312024	2242025	10-K 12/31/2024
9302024	10282024	10-Q 9/30/2024
6302024	7292024	10-Q 6/30/2024
3312024	4292024	10-Q 3/31/2024
12312023	2152024	10-K 12/31/2023
9302023	10262023	10-Q 9/30/2023
6302023	7272023	10-Q 6/30/2023
3312023	4272023	10-Q 3/31/2023
12312022	2162023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	7282022	10-Q 6/30/2022
3312022	4282022	10-Q 3/31/2022
12312021	2172022	10-K 12/31/2021
9302021	10282021	10-Q 9/30/2021

Insider Activity

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External Quote Links

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2	SeekingAlpha	ValueLine
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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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LTC Properties (LTC)

Market Price (11/5/2025): $35.48 | Market Cap: $1.6 BilSector: Real Estate | Industry: Health Care REITs

LTC Properties (LTC)

Market Price (11/5/2025): $35.48Market Cap: $1.6 BilSector: Real EstateIndustry: Health Care REITs

Market Valuation & Key Metrics

LTC Stock

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

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Asset Allocation

About LTC Properties (LTC)

Interactive Breakdown

Better Bets than LTC Properties (LTC)

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Financials

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Based On 1-Year Data

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Market Price (11/5/2025): $35.48 | Market Cap: $1.6 Bil
Sector: Real Estate | Industry: Health Care REITs

Market Price (11/5/2025): $35.48
Market Cap: $1.6 Bil
Sector: Real Estate
Industry: Health Care REITs