LTC Properties is scheduled to report third-quarter earnings after the market closes Tuesday, following a quarter in which it acquired more than $880 million in properties as it expands its directly operated senior housing portfolio.
Analysts expect earnings of $0.51 per share on revenue of $85.17 million. The projected profit per share is below the $0.56 reported in the previous quarter, while estimated revenue is 22.9% higher than a year earlier. The company’s earnings estimates have fallen 4.2% over the past 60 days, while revenue estimates have edged up slightly.
LTC’s portfolio changes included buying nearly $160 million in senior housing assets in early October and selling two non-SHOP portfolios for more than $260 million in gross proceeds. The sales are expected to generate an estimated $225 million gain. Later in October, the company acquired a 130-unit Pennsylvania community for $52 million. Built in 2023, the property had occupancy in the low-to-mid 90% range. LTC’s seniors housing operating portfolio now accounts for about 45% of pro forma annualized net operating income.
Investors will be watching for signs that the expansion of the seniors housing operating portfolio, or SHOP, is supporting earnings growth, as well as updates on operating margins and occupancy. Management’s discussion of the divestiture gains and the timing of earnings contributions from recent acquisitions could also affect expectations for 2027.
LTC is approaching the midpoint of its $900 million acquisition guidance for the year. Its previous quarterly results beat earnings expectations, posting $0.56 per share against a forecast of $0.50, while revenue results were mixed amid the portfolio transition.
Sources: Investing.com News.