Brief: LTC Properties Q2 EPS USD 0.32

LTC Properties

04/08/2025 21:15

Overview

LTC Q2 revenue rises to $60.24 mln, driven by seniors housing operating portfolio (“SHOP”) conversions

Net income for Q2 declines due to increased transaction and admin costs

Company raises 2025 guidance, reflecting $400 mln in investments

Outlook

LTC expects SHOP portfolio to more than double in size

Company anticipates 2025 increased SHOP NOI between $10.4 mln and $15.6 mln

LTC projects 2025 increased Core FFO to $2.67-$2.71 per share

Result Drivers

SHOP CONVERSIONS - Revenue increase driven by conversion of Anthem's and New Perspective's portfolios into SHOP, contributing $2.5 mln in net operating income

EXPENSE INCREASE - Higher transaction and administrative costs led to a decline in net income, despite gains from SHOP conversions

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$60.24 mln
Q2 EPS
$0.32
Q2 Net Income
$14.94 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 1 "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 $36.00, about 4.8% above its August 1 closing price of $34.29

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release: ID:nBw7MM6zja

(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.)