LTC Properties, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 3, 2026, reporting a net income of $349.3 million for the third quarter driven largely by a $323.9 million gain on the sale of real estate.

Key Highlights

  • Net income of $349.3 million for the three months ended September 30, 2026, compared to a net loss of $18.5 million in the same period of 2025, according to the filing.
  • Gain on sale of real estate of $323.9 million was recorded in the third quarter of 2026, versus a loss of $738 thousand in Q3 2025.
  • Total revenues rose to $115.2 million for Q3 2026, up from $69.3 million in Q3 2025, with resident fees and services growing to $70.5 million from $22.2 million.
  • Total assets increased to $2.755 billion as of September 30, 2026, compared to $2.062 billion as of December 31, 2025.
  • Shares outstanding were 54,820 thousand as of the balance sheet date, up from 48,482 thousand at December 31, 2025; common shares outstanding on October 28, 2026 were 56,191,669.
  • An impairment loss of $2.3 million was recorded in Q3 2026, with no comparable charge in Q3 2025, the filing disclosed.
  • Basic earnings per common share were $6.44 for Q3 2026, compared to a loss of $0.44 per share in Q3 2025.

LTC Properties Reports Q3 2026 Results Shaped by Large Real Estate Disposition

LTC Properties, Inc. (NYSE:LTC), a Maryland-incorporated real estate investment trust headquartered in Westlake Village, California, reported sharply higher income for the three months ended September 30, 2026, according to its quarterly filing. Total revenues for the quarter reached $115.2 million, up from $69.3 million in the prior-year period. The increase was driven in large part by resident fees and services revenue, which grew to $70.5 million from $22.2 million, reflecting the company's expanded seniors housing operating portfolio. Rental income declined modestly to $27.5 million from $27.8 million.

The most prominent item in the quarter was a gain on sale of real estate of $323.9 million, which lifted net income to $349.3 million from a net loss of $18.5 million in Q3 2025. For the nine months ended September 30, 2026, the company reported total revenues of $309.5 million and net income of $405.1 million, with a cumulative gain on sale of real estate of $331.5 million. The prior-year nine-month period included a write-off of effective interest receivable of $41.5 million that did not recur in 2026.

On the balance sheet, total assets grew to $2.755 billion at September 30, 2026, from $2.062 billion at December 31, 2025. Owned real properties, net, increased to $1.775 billion from $1.202 billion over the same period. Total liabilities rose to $1.047 billion, including revolving line of credit borrowings of $429.9 million. Total stockholders' equity attributable to LTC Properties, Inc. increased to $1.635 billion from $1.075 billion at year-end 2025. Cash and cash equivalents stood at $183.0 million at September 30, 2026, compared to $14.4 million at December 31, 2025. Seniors housing operating expenses for Q3 2026 were $50.8 million, compared to $17.4 million in Q3 2025, consistent with the larger operating portfolio.

What Was Disclosed

LTC Properties filed its Q3 2026 Form 10-Q disclosing financial results for the three and nine months ended September 30, 2026, including a $323.9 million gain on real estate sales, significant revenue growth in resident fees, and total assets of $2.755 billion.