LTC Properties (LTC) Q2 Revenue Up 20%
LTC Properties (NYSE:LTC), a healthcare-focused real estate investment trust (REIT) specializing in senior housing and skilled nursing properties, reported results for Q2 2025 on August 4, 2025. The company posted materially higher diluted Core funds from operations (FFO) per share (non-GAAP) and revenue (GAAP) than expected, driven by substantial portfolio reinvestment and expansion of its seniors housing operating portfolio (SHOP) under the Real Estate Investment Diversification and Empowerment Act (RIDEA) structure. Diluted Core FFO per share came in at $0.68 (non-GAAP), surpassing the analyst forecast of $0.45 (non-GAAP), while revenue (GAAP) was $60.2 million, beating GAAP revenue expectations by $20.48 million. Although diluted earnings per share (GAAP) declined year over year, operational metrics improved, and management raised guidance for the year. Overall, the quarter marked a significant transformation of the business—with strong outperformance on key metrics and continued investment activity to diversify the asset base.
Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report.
LTC Properties operates as a healthcare REIT, investing in senior housing and skilled nursing assets across the United States. Its business combines owning healthcare properties and providing mortgage and structured financing to operators in the sector. Revenue sources include rental income from triple-net leases—where tenants cover expenses such as maintenance, taxes, and insurance—mortgage lending, and, increasingly, operating income from properties directly managed under its SHOP segment.
Source Fool.com
