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Q2 25 EPS
$0.68
MISS 47.29%
Est. $1.29
Q2 25 Revenue
$60.2M
BEAT +13.48%
Est. $53.1M
vs S&P Since Q2 25
-2.7%
TRAILING MARKET
LTC +14.1% vs S&P +16.8%
Market Reaction
Did LTC Beat Earnings? Q2 2025 Results
LTC Properties delivered a mixed second quarter for 2025, posting earnings per share of $0.68 against a consensus estimate of $1.29, a shortfall of 47.29%, even as revenue climbed 20.2% year over year to $60.24 million, well ahead of the $53.09 milli… Read more LTC Properties delivered a mixed second quarter for 2025, posting earnings per share of $0.68 against a consensus estimate of $1.29, a shortfall of 47.29%, even as revenue climbed 20.2% year over year to $60.24 million, well ahead of the $53.09 million analysts had expected. The earnings gap traced directly to the company's deliberate strategic pivot: converting 13 senior housing communities totaling 832 units into its newly launched SHOP segment under a RIDEA structure triggered a surge in operating expenses, including a $5.97 million one-time lease termination fee and elevated transaction costs, weighing heavily on net income. Underlying performance told a more encouraging story, with diluted Core FFO edging up to $0.68 per share from $0.67 a year ago, and SHOP generating $2.53 million of NOI at 81% average occupancy. Looking ahead, LTC raised its full-year Core FFO guidance to $2.67-$2.71 per share and is moving quickly to nearly double its senior housing portfolio through roughly $320 million of investments expected to close within 60 days.
Key Takeaways
- • Conversion of Anthem's and New Perspective's triple-net portfolios into SHOP, generating approximately $780,000 more NOI than prior triple-net leases
- • SHOP segment achieved 81% average combined occupancy across 13 properties
- • Lower interest expense of $8.0 million vs $10.9 million year-over-year
- • Market-based rent resets expected to generate $5.655 million in 2025, up 64% from $3.448 million in 2024
- • Prestige Healthcare paying full contractual interest rate of 11.14%
LTC YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
LTC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Growth is front and center for LTC. With $400 million of investments now included in our guidance, our SHOP portfolio will more than double in size. Even with this level of increased investment activity, we are continuing to backfill our pipeline with an additional accretive SHOP transactions as we transform our company from a small cap, triple-net REIT to a larger, more diversified seniors housing focused REIT.”
— Pam Kessler, Q2 2025 Earnings Press Release
LTC Earnings Trends
LTC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LTC EPS Trend
Earnings per share: estimate vs actual
LTC Revenue Trend
Quarterly revenue: estimate vs actual
LTC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.44 | $0.48 | +9.09% | $95.4M | +2.81% |
| Q4 25 BEAT FY | $1.30 | $2.11 | +62.31% | $84.3M | +0.07% |
| FY Full Year | — | $2.52 | — | $262.9M | — |
| Q3 25 MISS | $0.47 | $-0.44 | -194.28% | $69.3M | +3.69% |
| Q2 25 MISS | $1.29 | $0.68 | -47.29% | $60.2M | +13.48% |
| Q1 25 MISS | $0.46 | $0.45 | -1.10% | $49.0M | +0.29% |