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LTC Properties, Inc. is a real estate investment trust (REIT) focused on seniors housing and health care properties, principally investing through SHOP, as well as triple-net leases, and joint ventures. The Company's portfolio includes nearly 190 properties throughout the United States. Based on gross real estate investments, approximately 64% of the Company's assets are seniors housing communities with the remainder skilled nursing centers. LTC Properties, Inc. was incorporated in 1992 in Maryland, USA.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $263M | $197M | $118M | $136M | 11.0% | 25.3% | 29.6% |
| 2024 | $210M | $172M | $91M | $126M | 9.5% | 6.4% | 1.5% |
| 2023 | $197M | $176M | $90M | $104M | 10.2% | 12.6% | -10.3% |
| 2022 | $175M | $170M | $100M | $106M | 12.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 175.15 | 197.24 | 209.85 | 262.85 |
| Cost Of Revenue | - | 15.49 | 13.27 | 12.93 | 64.88 |
| Gross Profit | - | 159.67 | 183.98 | 196.92 | 197.97 |
| Operating Expense | - | 62.73 | 67.38 | 64.35 | 73.51 |
| Operating Income | - | 96.94 | 116.60 | 132.57 | 124.46 |
| EBITDA | - | 169.52 | 175.89 | 171.58 | 197.24 |
| EBIT | - | 132.02 | 138.48 | 135.22 | 159.36 |
| Pretax Income | - | 100.58 | 91.46 | 94.88 | 124.06 |
| Tax Provision | - | - | 0 | 0 | 0.18 |
| Net Income | - | 100.02 | 89.74 | 91.04 | 117.97 |
| Net Income Common Stockholders | - | 99.44 | 89.15 | 90.36 | 117.28 |
| Total Expenses | - | 78.22 | 80.65 | 77.28 | 138.39 |
| Interest Expense | - | 31.44 | 47.01 | 40.34 | 35.31 |
| Selling General And Administration | - | 23.71 | 24.29 | 27.24 | 31.12 |
| Normalized EBITDA | - | 135.94 | 155.51 | 171.38 | 169.09 |
| Normalized Income | - | 73.50 | 69.36 | 90.83 | 89.87 |
| Market Cap | 1,893.16 | 1,893.16 | 1,893.16 | 1,893.16 | 1,893.16 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| LTC Properties, Inc.this co. | LTC | $1.8B | 16.05↑ premium | 1.76 | 11.0% | 13.80 |
| Diversified Healthcare Trust | DHC | $1.8B | - | 1.10 | -17.2% | 18.61 |
| SmartStop Self Storage REIT, Inc. | SMA | $1.8B | - | 1.48 | -0.1% | 22.00 |
| Century Communities, Inc. | CCS | $1.8B | 11.66 | 0.66 | 5.7% | 12.96 |
| Apollo Commercial Real Estate Finance, Inc. | ARI |
| - |
| - |
| - |
| - |
| - |
| $1.7B |
| 12.18 |
| 0.83 |
| 6.8% |
| - |
| Empire State Realty Trust, Inc. | ESRT | $1.7B | 22.48 | 0.90 | 2.6% | 12.71 |
| Sila Realty Trust, Inc. | SILA | $1.7B | 50.72 | 1.25 | 2.5% | 15.47 |
| Innovative Industrial Properties, Inc. | IIPR | $1.7B | 13.51 | 0.89 | 6.6% | 9.21 |
| Ellington Financial Inc. | EFC | $1.6B | 11.15 | 1.09 | 9.8% | - |
| Peer Median | - | 12.84 | 1.00 | 4.2% | 14.22 | |