LTC
LTC Properties, Inc.
LTC's fundamentals are strong and it looks cheap: trading at 4.5x earnings, less than half its usual 17x. Analysts expect earnings to fall sharply.
LTC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
LTC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for real estate companies like LTC.
LTC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 4.6x | $43.77 | — |
| Cheap | 15x | $140 | +220% |
| Fair | 17x | $164 | +276% |
| Expensive | 22x | $214 | +389% |
| Forward | 22x | $43.77 | — |
Historical ranges are pointers, not guarantees.
LTC's PE is in its cheap range at 4.5x. Analysts expect earnings to fall, which would put today's price at 22x next year's earnings, in its expensive range.
LTC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong decline | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect LTC's revenue to grow, but its earnings to decline.
LTC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.99 | -79% |
| Q3 2026 | $9.62 | +1236% |
| Q2 2026 | $2.79 | +53% |
| Q1 2026 | $2.55 | +31% |
| Q4 2025 | $2.52 | +23% |
| Q3 2025 | $0.72 | -69% |
| Q2 2025 | $1.82 | -18% |
| Q1 2025 | $1.94 | +1% |
| Q4 2024 | $2.05 | -5.1% |
LTC's earnings per share have jumped to their highest in seven years: $9.62 over the past year, up from $0.72 the year before.
LTC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $115.2M | +66% |
| Q2 2026 | $98.9M | +64% |
| Q1 2026 | $95.4M | +95% |
| Q4 2025 | $84.3M | +60% |
| Q3 2025 | $69.3M | +24% |
| Q2 2025 | $60.2M | +20% |
| Q1 2025 | $49M | -4.5% |
| Q4 2024 | $52.6M | +4.8% |
LTC's revenue has grown year over year for six quarters in a row: $115M last quarter, up 66% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 54% | -18 points |
| Q2 2026 | 55% | -25 points |
| Q1 2026 | 59% | +21 points |
| Q4 2025 | 67% | +32 points |
| Q3 2025 | 72% | +18 points |
| Q2 2025 | 80% | +42 points |
| Q1 2025 | 38% | -9.5 points |
| Q4 2024 | 36% | -20 points |
LTC's operating margin was 54% last quarter, down 18 points from the same quarter a year ago.
LTC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $36.6M | +6.7% |
| Q2 2026 | $30.6M | +6% |
| Q1 2026 | $28.1M | -0.5% |
| Q4 2025 | $37.3M | +26% |
| Q3 2025 | $34.3M | +24% |
| Q2 2025 | $28.9M | -17% |
| Q1 2025 | $28.2M | +44% |
| Q4 2024 | $29.5M | +42% |
LTC's free cash flow was $133M over the past year, up 9.7% from the year before. Free cash flow isn't a meaningful measure for real estate companies like LTC.
LTC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.9% | +2M shares |
| 1 year | +18% | +8.1M shares |
| 3 years | +32% | +13M shares |
| 5 years | +38% | +15M shares |
| Available history | +36% | +14.4M shares |
LTC has 54M diluted shares, up 18% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $18M |
LTC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.9x | Moderate |
| Q2 2026 | 2.8x | Moderate |
| Q1 2026 | 3.4x | Elevated |
| Q4 2025 | 3.9x | Elevated |
| Q3 2025 | 5.4x | High |
| Q2 2025 | 4.5x | High |
| Q1 2025 | 5.4x | High |
| Q4 2024 | 5.2x | High |
LTC's net debt is about 2.9 years of its operating earnings (EBITDA), down from 5.4 years a year ago. Net leverage isn't a meaningful measure for real estate companies like LTC.
LTC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.9 | Neutral |
| Stochastic | 76.5 | Neutral |
LTC's weekly RSI is 63 (neutral) and its Stochastic is 77 (neutral).
LTC PE vs Real Estate Sector
| Metric | LTC | Sector median | Relative |
|---|---|---|---|
| PE | 4.6x | 24x | 81% below |
| PE % | 0 | 23 | 23 pts below |
LTC is trading at 4.5x earnings, a 81% discount to the Real Estate sector's median of 24x.
LTC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $43.6 | 0.3% above |
| 20 week MA | $41.9 | 4.4% above |
| 50 week MA | $39.2 | 12% above |
| 100 week MA | $37.2 | 18% above |
| 200 week MA | $35.7 | 23% above |
LTC is in an uptrend: it's above all five of its weekly moving averages, and 23% above its 200-week average.
LTC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $44.2 | $39.2 | -11% |
| 2021 | $39.2 | $33.3 | -15% |
| 2022 | $33.3 | $36.0 | +8.2% |
| 2023 | $36.0 | $32.1 | -11% |
| 2024 | $32.1 | $34.4 | +7.2% |
| 2025 | $34.4 | $34.2 | -0.7% |
| 2026 YTD | $34.2 | $43.8 | +28% |
LTC has finished lower in four of the last six years. It's up 28% so far in 2026.