LTC Properties Corrects 2026 Earnings Range To $7.80–$7.82 — Adjusted Forecasts Stay Intact
The correction aligns the summary with Tuesday’s detailed forecast, while seniors housing acquisitions reshape the portfolio.
LTC Properties, a real estate investment trust investing in seniors housing and health care properties, has now disclosed in an amended filing that its 2026 diluted earnings forecast is $7.80 to $7.82 per share. Thursday’s correction fixes a summary-table error; its forecasts for adjusted property earnings and funds available for shareholder distributions remain unchanged.
An Old Range Repeated
The summary accompanying Tuesday’s original earnings report, furnished November 3, 2026, mistakenly reused the previously issued $8.08 to $8.10 earnings range. The detailed reconciliation in that release already contained the intended $7.80 to $7.82 forecast.
LTC kept its diluted Core FFO outlook—an adjusted measure of property-business earnings—at $2.76 to $2.78 per share. Diluted Core FAD, its adjusted measure of funds available for distributions, remains projected at $2.83 to $2.85 per share.
Those measures remove items that separate property operations from standard accounting earnings. The full-year reconciliation deducts $6.04 per share for gains on sales, net of impairment losses, and adds back depreciation and amortization, among other adjustments.
Property Earnings Behind The Correction
The third-quarter results show why those distinctions matter. LTC reported diluted Core FFO of $0.71 per share, against $0.69 a year earlier, and diluted Core FAD of $0.73, against $0.72. Quarterly revenue was $115.246 million, compared with $69.290 million.
LTC attributed the improvement in Core FFO to income from seniors housing acquisitions, loan originations and funding, and market-based rent resets. Asset sales, loan payoffs and higher interest expense partly offset those gains. Recurring capital spending on operating properties also reduced Core FAD.
LTC shares fell about 1% to $45.20 in Friday trading. Its market value was $2.6 billion in Friday trading.
A Larger Operating Portfolio
LTC earns rent from properties leased to operators, resident fees from communities managed by independent operators, and interest from loans and other financing. Its seniors housing operating portfolio, launched in May 2025, had reached 50 communities managed by 14 operators by Tuesday and accounted for 45% of annualized net operating income.
Tuesday’s release raised the midpoint of the 2026 operating-portfolio investment target to $1 billion from $900 million. It also narrowed expected operating-portfolio net operating income to $73.5 million–$76.4 million, from $71.2 million–$79.9 million. Those were changes in the original results announcement, rather than changes made by Thursday’s amendment.
“SHOP acquisitions have reached nearly $950 million through October, surpassing our 2026 mid-point acquisition target,” Clint Malin, LTC’s co-CEO, said in the earnings release.
The corrected summary now matches the earnings estimate already published Tuesday, with both adjusted per-share forecasts intact.
Sources
- 8-K/A Filing (Amendment) — LTC PROPERTIES INC (LTC) — SEC EDGAR
- Original 8-K — LTC PROPERTIES INC (filed 2026-11-03) — SEC EDGAR
- Exhibit ltc-ex99d1.htm — LTC PROPERTIES INC 8-K exhibit — SEC EDGAR
- LTC expects about $1B of 2026 acquisitions as SHOP targets 50% of annualized NOI by year-end (NYSE:LTC) | Seeking Alpha — seekingalpha.com
- LTC Properties (LTC) Beats Q3 FFO and Revenue Estimates — Yahoo Finance
- LTC Reports 2026 Third Quarter Results as SHOP Momentum Continues — businesswire.com
- LTC Tops 2026 Mid-Point SHOP Acquisition Guidance with $62 Million Transaction; Welcomes Grace Management to SHOP Platform — businesswire.com
