LTC Properties Inc. Common Stock (LTC)

FairStock Score: 78/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at LTC Properties as a small healthcare REIT with nearly 180 seniors housing and skilled nursing properties, mostly seniors housing by gross real estate investment. It is not a wide-moat business; its edge comes from long-lived assets, leases, joint ventures and relationships with operators. The filed numbers show a real uptrend: fiscal year 2023, the year ended 2023-12-31, had revenue of $197.2M; fiscal year 2024, the year ended 2024-12-31, had revenue of $209.8M; and fiscal year 2025, the year ended 2025-12-31, had revenue of $262.9M. Net income rose from $91.0M in fiscal year 2024 to $118.0M in fiscal year 2025. More recently, fiscal Q2 2026, the quarter ended 2026-06-30, produced $98.9M of revenue and $29.6M of net income, or $0.56 diluted EPS, against fiscal Q2 2025, the quarter ended 2025-06-30, revenue of $60.2M and net income of $15.1M. But fiscal Q3 2025, the quarter ended 2025-09-30, had a $20.0M net loss, so the path is not smooth. Since this is a REIT, I would not lean on P/E or an earnings-based discount. FFO and AFFO, the right REIT measures, are not in the data. Instead I note the FairStock-calculated dividend yield of 5.36%, price-to-book of 2.19, debt-to-equity of 0.58, and FCF yield of 6.1%. The dividend looks reasonably supported by free cash flow, and leverage is moderate, though the FairStock Altman Z of 1.97 sits in the grey zone and ROCE of 2.76% is low. The FairStock Lynch category is SLOW GROWER, with profit growing 4.4% a year over five years and revenue 10.5%, so I would not pay a high price for rapid growth. At $42.91 on 2026-10-13, near the 52-week high of $43.60 and with price-to-book above 2, the stock looks fairly valued, not a bargain. The 5.36% dividend is the main attraction; the risk is operator and reimbursement pressure.

In plain English: LTC Properties owns seniors housing and skilled nursing properties across the United States and earns income from them. The business looks reasonably healthy: revenue and profits have grown, the dividend payout is solid, and debt is moderate, but one recent quarter showed a loss and the stock trades near its 52-week high. Based on the numbers given, the price looks fair rather than clearly cheap or expensive.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer