LTC Properties, Inc. (LTC) Stock

LTC Properties, Inc. (LTC) is a Real Estate stock trading at $40.28 (as of 2026-08-21), with a market capitalization of $2.17B and a trailing P/E of 37.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

LTC Properties, Inc. is a REIT that invests in seniors housing and health care properties, primarily through sale-leasebacks, mortgage financing, joint ventures, and structured finance arrangements such as preferred equity and mezzanine lending. It holds investments across 27 states with operating partners.

Understand LTC Properties, Inc.: how it makes money

LTC Properties is a REIT that invests in seniors housing and health care properties, mainly through sale leasebacks and financing structures such as mortgage financing, preferred equity, and mezzanine lending.

LTC's profit engine is built around deploying capital into seniors housing and skilled nursing properties through sale leasebacks and structured financing (mortgage financing, preferred equity, mezzanine lending) and partnering with operating partners (29 operating partners).

Business quality (Strong): The business model centers on the amount and mix of healthcare real estate investments closed and deployed through structured finance, which makes performance closely tied to that investment activity and the operating partners.

Valuation: At 14× earnings, LTC trades 57% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

Healthcare real estate focus: The portfolio is approximately 50% seniors housing and 50% skilled nursing properties, giving a defined concentration within the health care property sector.
Large partner and footprint: LTC holds 181 investments in 27 states with 29 operating partners, which can support deal execution across geographies and counterparties.
Multiple investment structures: LTC invests primarily through sale leasebacks, mortgage financing, joint ventures, and structured finance solutions including preferred equity and mezzanine lending, which can diversify how returns are generated across deal types.

Bear case

Pipeline and deal timing can swing results: The company uses investment pipeline activity as an operating driver, so periods with lower pipeline closings could pressure results, and deal timing can create quarter to quarter variability.
Structured finance adds risk considerations: Because LTC uses mortgage financing, preferred equity, and mezzanine lending, performance depends on the underlying collateral and the terms of these structures, which can introduce credit and valuation risks in stressed conditions.
Healthcare property exposure can be cyclical: With roughly half the portfolio in seniors housing and half in skilled nursing, LTC is exposed to conditions affecting health care real estate and its operating environment.

Valuation — source: SEC EDGAR (first-party)
Price	$40.28
Market Cap	$2.17B
P/E Ratio	37.3
EV / EBITDA	11.1
Price / Book	1.62
Price / Sales	6.05
DCF Value (model)	$102.31
DCF Upside vs Price	154.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$262.85M
Net Margin	44.9%
Revenue Growth (YoY)	25.3%
EPS Growth (YoY)	22.7%

Valuation vs Sector & Industry
Stock P/E	37.3
Sector P/E (Real Estate)	27.2
Industry P/E (Trading)	35.3
vs Sector	37.3%
vs Industry	5.6%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($308.39M)
Institutional Holders Tracked	10
Congressional Trades (recent)	1

Company
Sector	Real Estate
Industry	Trading
CEO	Pamela J. Shelley-Kessler
Employees	23
Country	US
IPO Date	1992-08-18

Related Companies (Business model: Equity REIT (Real Estate Investment Trust); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.