LTC Properties reported second quarter 2026 total revenue of $98.9 million and Core Funds From Operations (FFO) of $0.68 per share, which was flat year-over-year. The company significantly increased its full-year 2026 investment guidance midpoint by 50% to $900 million as it accelerates its strategic pivot to the Senior Housing Operating Portfolio (SHOP) model.

Key Highlights

  • Diluted Core FFO per share of $0.68 was flat compared to the same period last year, while Diluted FAD per share declined slightly to $0.70 from $0.71 a year ago.
  • The company raised its full-year 2026 investment guidance midpoint to $900 million, a 50% increase from the previous guidance, signaling an accelerated acquisition pace.
  • LTC's SHOP platform is now projected to represent 40% of proforma annualized Net Operating Income (NOI) by the end of the third quarter, ahead of prior projections.
  • Second quarter SHOP acquisitions totaled $171 million, with an additional $529 million of acquisitions anticipated to close in the third quarter.