(LTC) LTC Properties - Overview
Sector: Real Estate | Industry: REIT - Healthcare Facilities | Exchange: NYSE (USA) | Market Cap: 1.940m USD | Total Return: 11.7% in 12m
Industry Rotation: +13.6
Avg Turnover: 11.7M
EPS Trend: -41.9%
Qual. Beats: 0
Rev. Trend: 85.3%
Qual. Beats: 0
Warnings
Choppy
Tailwinds
No distinct edge detected
LTC Properties, Inc. (NYSE: LTC) is a Maryland-based Real Estate Investment Trust (REIT) established in 1992. The company specializes in the seniors housing and healthcare sectors, maintaining a portfolio of approximately 190 properties across the United States. Its investment strategy primarily utilizes triple-net leases, Senior Housing Operating Portfolio (SHOP) structures, and joint ventures.
The portfolio is weighted toward seniors housing communities, which represent roughly 64% of gross investments, while the remaining assets consist of skilled nursing centers. In a triple-net lease model, common in this sector, the tenant is responsible for property taxes, insurance, and maintenance, which helps insulate the REIT from rising operating expenses. This structure is designed to provide stable cash flows from long-term healthcare operators.
Investors can evaluate the underlying valuation metrics of this REIT by visiting ValueRay. Health Care REITs often face unique regulatory and demographic tailwinds as the aging U.S. population increases demand for specialized medical and residential facilities.
- Interest rate fluctuations impact cost of capital and real estate acquisition yields
- Skilled nursing reimbursement rates drive tenant profitability and rental income stability
- Seniors housing occupancy levels influence SHOP portfolio revenue and operator coverage
- Portfolio diversification between private pay and government-funded assets mitigates regulatory risk
- Strategic asset recycling and capital gains from property sales bolster liquidity
| Net Income: 120.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -1.13 > 1.0 |
| NWC/Revenue: 734.0% < 20% (prev 311.8%; Δ 422.2% < -1%) |
| CFO/TA 0.07 > 3% & CFO 137.1m > Net Income 120.9m |
| Net Debt (-1.13b) to EBITDA (205.9m): -5.47 < 3 |
| Current Ratio: 46.41 > 1.5 & < 3 |
| Outstanding Shares: last quarter (49.0m) vs 12m ago 7.19% < -2% |
| Gross Margin: 59.35% > 18% (prev 0.94%; Δ 5.84k% > 0.5%) |
| Asset Turnover: 15.96% > 50% (prev 11.69%; Δ 4.27% > 0%) |
| Interest Coverage Ratio: 4.32 > 6 (EBITDA TTM 205.9m / Interest Expense TTM 38.2m) |
| A: 1.08 (Total Current Assets 2.32b - Total Current Liabilities 50.0m) / Total Assets 2.10b |
| B: -0.06 (Retained Earnings -121.4m / Total Assets 2.10b) |
| C: 0.09 (EBIT TTM 165.1m / Avg Total Assets 1.94b) |
| D: -0.13 (Book Value of Equity -119.4m / Total Liabilities 919.3m) |
| Altman-Z'' Score: 7.33 = AAA |
| DSRI: 0.27 (Receivables 324.9m/802.1m, Revenue 309.4m/207.5m) |
| GMI: 1.58 (GM 59.35% / 93.90%) |
| AQI: -19.57 (AQ_t -0.68 / AQ_t-1 0.03) |
| SGI: 1.49 (Revenue 309.4m / 207.5m) |
| TATA: -0.01 (NI 120.9m - CFO 137.1m) / TA 2.10b) |
| Beneish M-Score: -14.95 (Cap -4..+1) = AAA |
Over the past week, the price has changed by -3.09%, over one month by -4.25%, over three months by -3.55% and over the past year by +11.73%.
- StrongBuy: 1
- Buy: 1
- Hold: 5
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 41 | 8.2% |
P/E Forward = 12.4533
P/S = 6.4454
P/B = 1.8039
P/EG = 5.7437
Revenue TTM = 309.4m USD
EBIT TTM = 165.1m USD
EBITDA TTM = 205.9m USD
Long Term Debt = 589.3m USD (from longTermDebt, last fiscal year)
Short Term Debt = 50.0m USD (from shortTermDebt, last quarter)
Debt = 869.9m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.13b USD (recalculated: Debt 869.9m - CCE 2.00b)
Enterprise Value = 814.4m USD (1.94b + Debt 869.9m - CCE 2.00b)
Interest Coverage Ratio = 4.32 (Ebit TTM 165.1m / Interest Expense TTM 38.2m)
EV/FCF = 6.06x (Enterprise Value 814.4m / FCF TTM 134.5m)
FCF Yield = 16.51% (FCF TTM 134.5m / Enterprise Value 814.4m)
FCF Margin = 43.46% (FCF TTM 134.5m / Revenue TTM 309.4m)
Net Margin = 39.08% (Net Income TTM 120.9m / Revenue TTM 309.4m)
Gross Margin = 59.35% ((Revenue TTM 309.4m - Cost of Revenue TTM 125.8m) / Revenue TTM)
Gross Margin QoQ = 33.53% (prev 64.28%)
Tobins Q-Ratio = 0.39 (Enterprise Value 814.4m / Total Assets 2.10b)
Interest Expense / Debt = 1.24% (Interest Expense 10.8m / Debt 869.9m)
Taxrate = 0.44% (110k / 25.1m)
NOPAT = 164.4m (EBIT 165.1m * (1 - 0.44%))
Current Ratio = 46.41 (Total Current Assets 2.32b / Total Current Liabilities 50.0m)
Debt / Equity = 0.78 (Debt 869.9m / totalStockholderEquity, last quarter 1.11b)
Debt / EBITDA = -5.47 (Net Debt -1.13b / EBITDA 205.9m)
Debt / FCF = -8.37 (Net Debt -1.13b / FCF TTM 134.5m)
Total Stockholder Equity = 1.03b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.23% (Net Income 120.9m / Total Assets 2.10b)
RoE = 11.79% (Net Income TTM 120.9m / Total Stockholder Equity 1.03b)
RoCE = 10.23% (EBIT 165.1m / Capital Employed (Equity 1.03b + L.T.Debt 589.3m))
RoIC = 9.01% (NOPAT 164.4m / Invested Capital 1.82b)
WACC = 4.51% (E(1.94b)/V(2.81b) * Re(5.98%) + D(869.9m)/V(2.81b) * Rd(1.24%) * (1-Tc(0.00)))
Discount Rate = 5.98% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: 94.28 | Cagr: 8.24%
[DCF] Terminal Value 87.18% ; FCFF base≈134.1m ; Y1≈146.7m ; Y5≈186.0m
[DCF] Fair Price = 128.9 (EV 5.47b - Net Debt -1.13b = Equity 6.60b / Shares 51.2m; r=6.0% [WACC]; 5y FCF grow 10.64% → 3.0% )
EPS Correlation: -41.94 | EPS CAGR: -25.18% | SUE: -0.02 | # QB: 0
Revenue Correlation: 85.25 | Revenue CAGR: 23.71% | SUE: 0.34 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.44 | Chg30d=+12.82% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.39 | Chg30d=-11.36% | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=1.72 | Chg30d=+0.29% | Revisions=+20% | GrowthEPS=+0.0% | GrowthRev=+71.7%
EPS next Year (2027-12-31): EPS=1.65 | Chg30d=+1.23% | Revisions=+20% | GrowthEPS=-4.4% | GrowthRev=+32.2%
[Analyst] Revisions Ratio: +20%