LTC Beats Own SHOP Target, Lifts 2026 Investment Guidance to $1B Mid-Point
LTC sits 36% above its 52-week low of $33.639.
Summary
LTC reported Q3 revenue of $115.2 million and Core FFO of $0.71 per share, raised its 2026 SHOP investment target to a $1 billion mid-point, and reaffirmed full-year Core FFO guidance of $2.76-$2.78.
Key Events · Earnings and Guidance · LTC
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Q3 Revenue Nearly Doubles on SHOP
Total revenues rose to $115.2 million from $69.3 million a year earlier, driven by SHOP acquisitions and conversions; SHOP NOI reached $19.7 million versus $4.8 million.
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SHOP Target Raised to $1B Mid-Point
Year-to-date SHOP acquisitions of nearly $950 million surpassed the prior $900 million mid-point, so 2026 gross investment guidance was increased by $100 million to a $1 billion mid-point.
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Core FFO Edges Higher, Guidance Reaffirmed
Diluted Core FFO was $0.71 per share versus $0.69, and full-year 2026 guidance was reaffirmed at $2.76-$2.78 Core FFO and $2.83-$2.85 Core FAD per share; SHOP NOI guidance narrowed to $73.5-$76.4 million.
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ATM Used for $58.7M Post-Quarter
LTC issued 1,371,986 shares under its equity distribution agreement for net proceeds of $58,717 after September 30, leaving $402 million available under the $500 million ATM.
Analysis · LTC · Real Estate & Construction
The SHOP pivot is now the earnings engine: SHOP contributed $19.7 million of NOI versus $4.8 million a year ago, and year-to-date SHOP acquisitions of nearly $950 million already exceed the prior $900 million mid-point target, prompting management to raise the 2026 gross investment mid-point to $1 billion. The headline $6.39 diluted EPS is mostly a $323.9 million gain on sale of real estate, not operating profit — the number that matters is Core FFO of $0.71 per share, up from $0.69, and Core FAD of $0.73 versus $0.72. Full-year Core FFO guidance of $2.76-$2.78 and Core FAD of $2.83-$2.85 was reaffirmed, while SHOP NOI guidance was narrowed to $73.5-$76.4 million. Funding is the trade-off: the company sold 1,371,986 shares under its ATM for $58.7 million net after quarter-end, and $402 million remains available on that program, so continued acquisition growth will keep leaning on equity issuance.
How filings like this one have moved
In the 30 days to Nov 3, 2026, 32.3% of the 2077 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LTC was trading at $45.70 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $33.64 to $46.14. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.