LTC Crosses $900M SHOP Guidance Midpoint With $62M Florida Buy, Adds Grace Management
LTC sits 34% above its 52-week low of $33.639.
Summary
LTC bought a 117-unit assisted living and memory care community in Florida for $62 million, pushing year-to-date SHOP acquisitions to nearly $950 million and past the $900 million midpoint of its 2026 guidance. The deal brings a new operator, Grace Management, into the platform — the 12th new operator relationship among 14 total managing 50 SHOP communities. Underwriting looks solid: a 6.5% expected year-one cap rate and low- to mid-teens unlevered IRR, funded with revolver draws and ATM proceeds. This is the fourth SHOP acquisition announcement since September, following roughly $200 million in Minnesota, nearly $160 million in October, and $95 million on October 13 — a steady cadence that supports the Q2 guidance raise and the 45% SHOP share of pro forma NOI. The stock is trading near its 52-week high, so the bar is higher; the next check is Q3 results, where the market will look for the acquisition pipeline to keep pace with the $500 million ATM capacity funding it.
At the time of this announcement, LTC was trading at $45.13 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $33.64 to $45.79. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.