LTC Properties raises 2025 investment guidance to $460 million

LTC Properties Inc. (NYSE: LTC) increased its 2025 investment guidance to $460 million from $400 million, according to a company statement. The real estate investment trust cited growth in its SHOP portfolio as the primary driver for the 15% increase.

The updated guidance includes $135 million of investments already closed, with $35 million in SHOP investments. The company expects to close an additional $235 million in SHOP investments within 30 days and another $90 million in SHOP investments after the third quarter ends.

LTC plans to fund these investments through its expanded credit line, proceeds from property sales and loan payoffs scheduled for the second half of 2025, and stock sales under its at-the-market program.

Following the second quarter, LTC originated a $58 million five-year loan secured by two California seniors housing communities totaling 171 units, with an 8.25% interest rate.

The SHOP portfolio launched in May 2025 and is expected to reach more than $500 million in value upon completion of planned investments, representing approximately 20% of LTC's total portfolio. SHOP will encompass nearly 1,900 private-pay independent living, assisted living and memory care units across 25 properties with six operating partners.

The investment activity will shift LTC's portfolio composition from an equal balance of private-pay seniors housing and skilled nursing to a 65-35% split favoring seniors housing. This brings the company's skilled nursing concentration to its lowest level in company history.

LTC management will participate in investor meetings starting September 17, 2025, as part of a non-deal roadshow.

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