LTC Maintained by Wells Fargo -- Price Target Raised to $43.00

LTC Properties (LTC) acquired a 130-unit seniors housing community in Pennsylvania for $52M. The property, managed by IntegraCare, has a 6.9% cap rate and expected low- to mid-teens IRR. LTC funded the purchase through its revolving line of credit and equity sales, totaling $97M in Q3 2026. This acquisition expands LTC’s portfolio to 49 communities, with 45% of its pro forma annualized NOI. Year-to-date, LTC has completed over $880M in SHOP acquisitions, nearing its $900M 2026 investment target.

LTC Properties (NYSE:LTC) acquired two senior housing communities for $95M: an 180-unit property in Alabama for $71M and an 85-unit property in Iowa for $24M. The communities have a 93% occupancy rate and a 6.5% average cap rate. The acquisitions were funded through prior property sales, bringing LTC's year-to-date acquisitions to over $830M, 90% of its mid-point guidance. LTC's senior housing operating portfolio now contributes 45% of its annualized net operating income.

LTC Properties (NYSE: LTC) acquired two seniors housing communities for $95 million, totaling $830 million in SHOP acquisitions this year. The purchases, funded by prior property sales, bring LTC's SHOP portfolio to 48 communities, contributing nearly 45% of its annualized net operating income. The company expects SHOP to reach nearly 50% of its annualized net operating income by year-end, meeting its mid-point acquisition guidance of $900 million.

LTC Properties acquired $160M in senior housing assets, adding 270 units across three communities. The properties, with an average age of six years, are expected to yield a 6.5% first-year capitalization rate. LTC funded the acquisitions partly through divestitures, selling portfolios for over $260M, anticipating a $225M gain. The company expects an unlevered internal rate of return in the low- to mid-teens.

LTC Properties (LTC) acquired three senior housing communities for $160M, adding 270 units. National Health Investors (NHI) invested $107.7M in six communities, adding 443 units. Both companies are expanding their senior housing portfolios. Cardinal Senior Living acquired three Ohio communities. Other transactions include sales in Michigan, New York, New Mexico, and South Carolina. JLL arranged $276M in refinancing for a California senior housing portfolio.

LTC Properties (NYSE: LTC) announced $160M in acquisitions of three seniors housing communities and $260M in divestitures, advancing its SHOP platform. The acquisitions, with a 6.5% average cap rate, add 270 units and expand LTC's SHOP portfolio to 46 communities, contributing over 40% of annualized net operating income. The company expects a $225M gain on the sales and aims to pay off a $180M mortgage loan by mid-November 2026.