LTC
LTC Properties is a publicly traded healthcare REIT that invests in seniors housing and skilled nursing real estate via SHOP ownership, triple-net leases, joint ventures, and structured financing, serving operators across approximately 200 properties in 29 U.S. states.
- Company typePublic
- Founded1992
- HeadquartersWestlake Village, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What LTC does
LTC Properties, Inc. (NYSE: LTC) is a self-managed healthcare real estate investment trust incorporated in Maryland in 1992 and headquartered in Westlake Village, California. The company invests in seniors housing and healthcare real estate primarily through four structures: Seniors Housing Operating Portfolio (SHOP) direct ownership with third-party operators, triple-net leases, joint ventures, and structured finance including first-mortgage loans. As of March 31, 2026, the portfolio comprised approximately 200 properties across 29 states with 30 operating partners, with a roughly 60/40 split between seniors housing (independent living, assisted living, memory care) and skilled nursing facilities.
The company generates revenue through three primary streams: rental income from long-term triple-net leases, resident fees and services from directly owned SHOP assets, and interest income from first-mortgage loans on long-term care facilities (typically 7-15 year maturities with 25-year amortization). LTC's customer base is composed of seniors housing and skilled nursing facility operators seeking sale-leaseback capital, acquisition financing, development funding, and SHOP transitions. Notable operator relationships include The Arbor Company and MorningStar Senior Living, both onboarded or expanded during 2025-2026. The company's go-to-market combines enterprise relationship-driven deal origination with institutional investor engagement through REIT-focused conferences (Deutsche Bank Healthcare REIT Summit, BMO North American Real Estate Conference, Nareit REITWeek 2026).
Operationally, LTC is executing a deliberate portfolio rebalancing away from older skilled nursing assets toward newer private-pay seniors housing under the SHOP model. In 2025 the company completed approximately $353 million of SHOP acquisitions, sold $79 million of skilled nursing centers, and expanded its credit facility to $800 million with an additional $200 million in term loans. Q4 2025 total revenues reached $84.3 million (up 60% year-over-year), full-year 2025 Core FFO grew 13%, and 2026 guidance projects diluted Core FFO per share of $2.75-$2.79 on gross investments of $400 million to $800 million. The common stock trades on NYSE under ticker LTC with a roughly 5.9% annualized dividend yield based on the declared $0.19 monthly dividend for Q2 2026.
LTC firmographics
Firmographics- Name
- LTC
- Legal name
- LTC Properties, Inc.
- Website
- https://ltcreit.com
- Company type
- Public
- Founded year
- 1992
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- LTC Properties is a publicly traded healthcare REIT that invests in seniors housing and skilled nursing real estate via SHOP ownership, triple-net leases, joint ventures, and structured financing, serving operators across approximately 200 properties in 29 U.S. states.
- Ownership category
- akta.pro rank
LTC industry classification
Industry- Product category
- Healthcare REIT
- NAICS
- Continuing Care Retirement Communities (623311), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Portfolio Management and Investment Advice (523940)
- SIC
- Real Estate Investment Trusts (6798), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)
- akta.pro secondary industries
- Long-Term Care Nursing Homes (Custodial LTC) (HLADADAB), Specialty CCRCs (e.g., Memory-Care-Focused, Veteran-Focused) (HLADAEAK)
Keywords
Where LTC is headquartered
LocationHeadquarters
- HQ city
- Westlake Village
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
LTC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Rental Income from Triple-Net Leases: Long-term lease arrangements with operators of skilled nursing and seniors housing facilities. Triple-net leases require operators to pay property taxes, insurance, and maintenance, providing predictable rental income streams.
- Seniors Housing Operating Portfolio (SHOP): Direct ownership and operation of seniors housing properties including independent living, assisted living, and memory care units. Revenue generated from resident fees and services.
- Interest Income from Mortgage Loans: Mortgage financing provided to healthcare operators secured by first mortgages on long-term care facilities. Loans typically have 7-15 year maturities with 25-year amortization schedules.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Monthly Cash Dividend - Q2 2026 |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
LTC product offering
Product offeringCore offering
LTC Properties is a self-managed healthcare real estate investment trust (REIT) founded in 1992 that invests in seniors housing and healthcare properties through Seniors Housing Operating Portfolios (SHOP), triple-net leases, joint ventures, and structured finance solutions (mortgages and mezzanine loans). The company owns or has investments in approximately 200 properties across 29 states, with roughly 60% in seniors housing and 40% in skilled nursing, working with about 30 operating partners.
Product overview
LTC Properties operates as a REIT offering four primary investment vehicles: Seniors Housing Operating Portfolio (SHOP) for direct property ownership, triple-net leases, joint-ventures, and structured finance solutions. The company also provides shareholder services including a Direct Stock Purchase Plan and Dividend Reinvestment Plan through Broadridge. The portfolio consists of nearly 200 properties across 29 states, approximately 60% seniors housing and 40% skilled nursing facilities.
Differentiator
Problem solved
Functional benefit
Products and services
- Seniors Housing Operating Portfolio (SHOP)
Quantifiable outcome
- 13% Core FFO growth driven by SHOP strategy in 2025
- +4 more outcomes
Companies that use LTC
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
LTC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
LTC partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- MorningStar Senior LivingcoreMorningStar Senior Living was welcomed as a new SHOP operator through LTC's $54 million SHOP acquisition. This partnership expands LTC's operational capabilities in the seniors housing sector through MorningStar's senior living management expertise.
- The Arbor CompanycoreThe Arbor Company operates LTC's three-property senior housing portfolio acquired for $108 million, comprising nearly 400 independent living, assisted living, and memory care units built between 2014-2018. The portfolio was purchased at less than replacement cost with year-one yield of approximately 7%. Arbor Company is an established seniors housing operator expanding its relationship with LTC.
- The Arbor CompanycoreLTC acquired an 88-unit assisted living and memory care community in Georgia for $23 million, managed by The Arbor Company. This acquisition added The Arbor Company as a new operator to LTC's portfolio as part of the company's expansion strategy in seniors housing.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
LTC competitors and assessment
Company assessmentDirect peers
- CareTrust REIT: Triple-net healthcare REIT specializing in skilled nursing and seniors housing, directly comparable to LTC's leasing model and customer base of senior care operators.
- Ventas: Major diversified healthcare REIT with significant seniors housing exposure managed through third-party operators, providing directly comparable SHOP, triple-net, and structured finance solutions for LTC.
- Welltower: Largest healthcare REIT in the US, with a major seniors housing operating portfolio (SHOP) exposure through relationships with operators like Atria and Sunrise — directly comparable to LTC's SHOP strategy and senior housing focus.
- American Healthcare REIT: Diversified healthcare REIT with significant senior housing operating and triple-net exposure; comparable in scale and operating model mix to LTC.
- Healthpeak Properties: Healthcare REIT with substantial seniors housing operating portfolio alongside medical office and life science assets, directly comparable in operating model and customer base to LTC.
- Omega Healthcare Investors: Pure-play skilled nursing and assisted living REIT, directly comparable to LTC's ~40% skilled nursing exposure and triple-net lease structure with operator tenants.
- Sabra Health Care REIT: Skilled nursing and senior housing REIT with triple-net lease and SHOP exposure, providing a closely comparable mid-cap peer for LTC's portfolio composition and growth profile.
- National Health Investors: Healthcare REIT focused on senior housing and skilled nursing triple-net leases and SHOP investments; closely comparable to LTC in property mix, deal size, and operator relationships.
- Diversified Healthcare Trust: Healthcare REIT with senior living operating portfolio and medical office assets, providing comparable exposure to LTC's SHOP seniors housing strategy.
Broad incumbents
- Brookdale Senior Living: Largest US operator of senior living communities (a major LTC customer segment); operates seniors housing communities that could be leased to or acquired by LTC, making it a relevant operator-counterparty peer rather than a REIT peer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
LTC social profiles
Digital presenceLTC financial estimates
Financial estimateRevenue estimate
Valuation estimate
LTC leadership team
Management profileNumber of profiles
Profiles5 records
LTC funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LTC M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LTC
What does LTC do?
LTC Properties is a self-managed healthcare real estate investment trust (REIT) founded in 1992 that invests in seniors housing and healthcare properties through Seniors Housing Operating Portfolios (SHOP), triple-net leases, joint ventures, and structured finance solutions (mortgages and mezzanine loans). The company owns or has investments in approximately 200 properties across 29 states, with roughly 60% in seniors housing and 40% in skilled nursing, working with about 30 operating partners.
Is LTC a public or private company?
LTC is a public company. It is classified as public and is currently operating.
When was LTC founded?
LTC was founded in 1992. It employs 11 to 50 people.
Where is LTC based?
LTC is headquartered in Westlake Village, United States, in the North America region.
How does LTC make money?
Three revenue lines are on record. Rental Income from Triple-Net Leases are the primary driver. The others are seniors Housing Operating Portfolio (SHOP) and interest Income from Mortgage Loans.
Who are LTC's main competitors?
Direct peers on record are CareTrust REIT, Ventas, Welltower, American Healthcare REIT, Healthpeak Properties, Omega Healthcare Investors, Sabra Health Care REIT, National Health Investors and Diversified Healthcare Trust. Brookdale Senior Living is listed as a broad incumbent.
Does LTC have an API?
No public API is recorded for LTC.
What industry is LTC in?
LTC's product category is Healthcare REIT. Its primary akta.pro industry code is BPAJAMAH, Healthcare & Senior Housing Real Estate Asset Management, with a secondary code of HLADADAB, Long-Term Care Nursing Homes (Custodial LTC). Its NAICS code is 623311 and its SIC code is 6798.