LTC

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.

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

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

• Healthcare REIT
• Seniors housing real estate
• Triple-net lease properties
• Skilled nursing facilities
• Real estate investment trust

Headquarters

HQ city

Westlake Village

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core 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

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• MorningStar Senior LivingcoreStrategic or Co-development Partner · 2 June 2026MorningStar 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 CompanycoreStrategic or Co-development Partner · 27 January 2026The 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 CompanycoreStrategic or Co-development Partner · 3 November 2025LTC 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

Direct 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

• Xx.com/ltcreit

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LTC