LTC Properties Posts $115.2M in Q3 Revenue
LTC sits 36% above its 52-week low of $33.639.
Summary
LTC Properties reported third-quarter revenue of $115.2M, alongside net income of $348.1M and earnings per share of $6.39. The top line lands after a heavy stretch of SHOP acquisitions — roughly $200M in Minnesota in September, nearly $160M across three communities in early October, $95M for two more mid-October, and $62M for a Florida assisted living/memory care property announced earlier today. Those deals are the growth engine behind the revenue base, and this print is the first quarterly look at how the expanded portfolio is contributing. No FFO or guidance figures accompanied the results. Shares sit near the 52-week high of $46.14, so the bar for this quarter is elevated.
At the time of this announcement, LTC was trading at $45.80 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 news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.