LTC Properties accelerates seniors housing shift, increasing 2026 SHOP acquisition goal by 50% to boost growth.
LTC Properties increased its 2026 seniors housing operating properties (SHOP) acquisition target by 50% to $900 million at the midpoint. The company aims to close $700 million in SHOP acquisitions by September, with SHOP expected to represent 40% of pro forma NOI by then and 50% by year-end.
The firm also raised its 2026 dispositions and loan-payoff target to $730 million, including a $180 million Prestige loan payoff. Proceeds will fund higher-growth SHOP investments, while skilled nursing NOI is projected to decline to the low-20% range of the portfolio by year-end.
LTC reported Q2 core FFO of $0.68 per share and narrowed its 2026 outlook to $2.76–$2.78 core FFO per share and $2.83–$2.85 core FAD per share, citing SHOP growth offset by asset sales and higher interest costs.