Why LTC Properties Stock Sank 12% in 2021

Shares of LTC Properties (NYSE: LTC) slumped 12.3% in 2021, according to data provided by S&P Global Market Intelligence. The senior housing market's continued headwinds weighed on the real estate investment trust (REIT). 

LTC Properties experienced a significant decline in funds from operations (FFO) and funds available for distribution (FAD) in 2021. FFO was down nearly 21% to $68.8 million through the third quarter, while FAD declined almost 19% to $69.6 million. Because of that, the REIT paid out 100% of its FAD during the third quarter to support its 6.4%-yielding monthly dividend.

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Source Fool.com