LTC Properties reports Q2 results

Raises 2025 Guidance to Include $400 Million of Completed and Anticipated Near-Term Investments --

-- Investments Expected to More than Double Size of SHOP Portfolio --

-- Backfilling Pipeline with Additional SHOP Transactions --

Guidance

The Company raised 2025 full-year guidance, as the result of $400.0 million of completed and anticipated near-term investments, as follows:

• GAAP net income attributable to LTC increased from $3.38 and $3.42 per share, to $3.45 and $3.48 per share;
• Diluted Core FFO increased to $2.67 and $2.71 per share, from $2.65 and $2.69 per share; and
• Diluted Core FAD increased to between $2.80 and $2.83 per share, from $2.78 and $2.82 per share.

LTC’s updated 2025 full-year guidance excludes potential asset sales other than planned sales previously announced, financings, or equity issuances, and includes only those transactions closed to date or expected to close within the next 60 days, as well as the following revised assumptions:

• Increased SHOP net operating income (“NOI”) between $10.4 million and $15.6 million for 2025, or $17.3 million and $35.7 million annualized;
• Increased SHOP FAD capital expenditures to the range of $660,000 to $920,000, or approximately $1,200 to $1,400 annualized per unit; and
• Increased general and administrative expenses to between $29.0 million and $29.8 million.