Ltc Properties Inc (NYSE: LTC)

LTC Properties, Inc. is a real estate investment trust incorporated in Maryland in 1992 that commenced operations later that year.

The company focuses on acquiring and managing seniors housing and health care properties.

Its investment activities include direct ownership, sale leaseback arrangements, mortgage financing, joint ventures, construction financing and structured finance solutions such as preferred equity, bridge loans and mezzanine lending.

The company generates revenue primarily from rental income under triple net leases, resident fees and services at its owned seniors housing communities, interest earned on financing receivables, interest on mortgage loans receivable, interest on notes receivable and income from investments in unconsolidated joint ventures.

The company operates through the following segments: Real Estate Investments Segment and SHOP Segment.

• Real Estate Investments Segment includes the triple net portfolio of owned real properties leased to operators, financing receivables from sale leaseback joint ventures, mortgage loan receivables secured by first mortgages, notes receivable comprising mezzanine and working capital loans and interests in unconsolidated joint ventures such as a mortgage loan on a skilled nursing center in Texas.

• SHOP Segment consists of owned seniors housing communities where the company retains oversight rights while third party operators manage day to day operations under management agreements; as of December 31 2025 this segment comprised 25 properties in ten states served by seven independent operators.

LTC Properties, Inc. competes with other health care real estate investment trusts, private equity firms, banks and various investors for seniors housing and health care properties.

Although many competitors possess greater financial resources and lower cost of capital, the company differentiates itself by focusing on off market transactions, leveraging long standing industry relationships and targeting investments that offer yields accretive to its shareholders.

The company's customers are primarily seniors housing operators, skilled nursing facility operators and other health care providers that lease its properties or borrow funds from it.

Specific customer names are not disclosed in the filing.