LTC Properties, Inc. (NYSE:LTC) Q2 2023 Earnings Conference Call July 28, 2023 11:00 AM ET Company Participants Wendy Simpson - Chairman and CEO Pam Kessler - CFO, Co-President and Corporate Secretary Clint Malin - CIO and Co-President Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Juan Sanabria - BMO Capital Markets Connor Siversky - Wells Fargo Amin Jazayeri - Barclays Michael Carroll - RBC Capital Markets Operator Good morning and welcome to the LTC Properties, Inc. Quarterly Ea ...

SECOND QUARTER 2023 Investments and Capital Recycling 4 INVESTMENTS Acquisitions and Financing Receivables 5 Joint Ventures 7 PORTFOLIO Diversification Maturity 13 Real Estate Investments Metrics 16 Enterprise Value 17 Debt Maturity 19 Consolidated Statements of Income 22 Funds from Operations 24-25 ESG (Environmental, Social & Governance) 26-27 Founded in 1992, LTC Properties, Inc. (NYSE: LTC) is a self-administered real estate investment trust (REIT) investing in seniors housing and health care properties ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from ____ to ____ Commission file number 1-11314 LTC PROPERTIES, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or ...

LTC Properties, Inc. (NYSE:LTC) Q1 2023 Earnings Conference Call April 28, 2023 11:00 AM ET Company Participants Wendy Simpson - Chairman & CEO Pam Kessler - CFO, Co-President & Corporate Secretary Clint Malin - CIO & Co-President Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Connor Siversky - Wells Fargo Securities Operator Before management begins its presentation, please note that today's comments, including the questions and answer session, may include forward-looking statemen ...

Financial Performance - Net income for Q1 2023 was $33,561,000, a significant increase from $14,507,000 in Q1 2022, representing a year-over-year growth of 131%[155]. - Total revenues for Q1 2023 reached $49,500,000, up from $40,787,000 in Q1 2022, marking an increase of 21.4%[163]. - Funds from Operations (FFO) attributable to common stockholders for Q1 2023 was $27,200,000, compared to $23,611,000 in Q1 2022, reflecting a growth of 15.5%[169]. - The company reported a gain on the sale of real estate of $15,373,000 in Q1 2023, compared to a gain of $102,000 in Q1 2022[163]. - Interest expense increased to $10,609,000 in Q1 2023 from $7,143,000 in Q1 2022, a rise of 48.5%[163]. - Cash provided by operating activities for the three months ended March 31, 2023, was $18,039,000, a decrease of 2.9% from $18,568,000 in 2022[178]. - Investing activities resulted in cash used of $132,230,000 for the three months ended March 31, 2023, an increase of 273.5% from $35,473,000 in 2022[178]. - Financing activities generated $109,350,000 in cash for the three months ended March 31, 2023, compared to $16,137,000 in 2022, reflecting a 577.5% increase[178]. Investment Portfolio - As of March 31, 2023, the net carrying value of investments was $1.7 billion, with $1.0 billion (58.2%) in owned and leased properties, $0.2 billion (11.5%) in financing receivables, and $0.5 billion (26.5%) in mortgage loans[108]. - The total real estate investment portfolio as of March 31, 2023, was valued at $2.11 billion, with assisted living properties comprising 52.7% and skilled nursing properties 46.0%[106]. - Seniors housing and health care properties made up approximately 99.3% of the gross investment portfolio as of March 31, 2023[97]. - The company anticipates making additional investments in health care-related properties, funded through cash on hand and proceeds from asset sales[102]. - The company entered into a $121.3 million joint venture to purchase 11 assisted living and memory care communities, with an initial cash yield of 7.25%[124]. Revenue Sources - Rental income, income from financing receivables, and interest income from mortgage loans accounted for 64.1%, 7.6%, and 22.7% of total revenues, respectively, for the three months ended March 31, 2023[109]. - For the three months ended March 31, 2023, the company recorded $32.4 million in cash rental income, including $3.3 million from operator reimbursements for real estate taxes[111]. - The company received $11.2 million in interest income from mortgage loans, with $9.3 million received in cash[112]. - Prestige Healthcare represents 16.4% of the company's total revenues and 14.7% of total assets as of March 31, 2023[116]. - The company anticipates receiving $10.8 million in cash rent from Anthem in 2023, consistent with 2022[113]. Debt and Liquidity - As of March 31, 2023, total debt obligations amounted to $901,045,000, with a weighted average interest rate of 4.58%[183]. - The company has an unsecured credit facility with a total commitment of up to $500 million, including a $400 million revolving credit facility[179]. - The company had $5.5 million in cash and cash equivalents and $129.9 million available under its unsecured revolving line of credit as of March 31, 2023[170]. - The company expects to maintain sufficient cash flow to cover operating costs and debt obligations, despite challenges posed by COVID-19[171]. - The company has a conservative approach to managing its business, maintaining liquidity until favorable investment opportunities arise[103]. Asset Management - The company monitors its investments through periodic reviews of financial statements and operator credit to mitigate payment risks[98]. - The company provided $0.5 million of abated rent to an operator during Q1 2023, with additional abated rent expected in subsequent months[117]. - The company recorded a $0.4 million impairment loss during Q1 2023 related to the sale of a 70-unit assisted living community in Florida[120]. - The company continues to monitor concentration risk across asset, investment, operator, and geographic mixes to assess potential downturn impacts[146]. Operator and Geographic Concentration - A master lease with Brookdale Senior Living Communities, Inc. is set to expire in December 2023, while another lease covering two skilled nursing centers has been renewed for five more years[110]. - The top five operators accounted for a significant portion of the company’s investments, with ALG Senior showing a notable increase to $326,288,000 as of March 31, 2023, compared to $192,699,000 as of December 31, 2022[148]. - Geographic concentration showed Texas as the leading state with investments of $328,442,000 as of March 31, 2023, slightly up from $327,490,000 as of December 31, 2022[148]. - North Carolina emerged as a top five state with investments of $232,841,000 as of March 31, 2023, a significant increase from $99,646,000 as of December 31, 2022[148]. - The company’s remaining states category saw a total investment of $995,223,000 as of March 31, 2023, up from $978,188,000 as of December 31, 2022[148]. Financial Ratios - As of March 31, 2023, the debt to gross asset value ratio increased to 41.0% from 37.4% in the previous quarter, indicating a rise in outstanding debt[153]. - The interest coverage ratio decreased to 3.6x in Q1 2023 from 4.4x in Q4 2022, reflecting an increase in interest expense[153]. - The company’s total fixed charges for Q1 2023 were $10,609,000, with a fixed charge coverage ratio of 3.6x[155]. Shareholder Returns - The company declared and paid $23,600,000 in cash dividends during the three months ended March 31, 2023[185]. - The company awarded 214,827 shares of restricted stock and performance-based stock units during the three months ended March 31, 2023[191]. - As of March 31, 2023, the company had 41,396,216 shares of common stock outstanding, with equity totaling $864.6 million[185].

LTC Properties, Inc. (NYSE:LTC) Q4 2022 Earnings Conference Call February 17, 2023 11:00 AM ET Company Participants Wendy Simpson - Chairman and CEO Pam Kessler - Co-President and Chief Financial Officer Clint Malin - Co-President and Chief Investment Officer Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Juan Sanabria - BMO Rich Anderson - SMBC Michael Carroll - RBC Tayo Okusanya - Credit Suisse Operator Before management begins its presentation, please note that today's comments, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-11314 LTC PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 71-0720518 (State or other jurisdiction of incorporatio ...

LTC Properties, Inc. (NYSE:LTC) Q3 2022 Results Conference Call October 28, 2022 5:00 PM ET Company Participants Wendy Simpson - Chairman and CEO Pam Kessler - Co-President and CFO Clint Malin - Co-President and Chief Investment Officer Conference Call Participants Steven Valiquette - Barclays Michael Carroll - RBC Capital Markets Daniel Bernstein - CapitalOne Austin Wurschmidt - KeyBanc Tao Qiu - Stifel Tayo Okusanya - Credit Suisse Operator Before management begins its presentation, please note that today ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from ____ to ____ Commission file number 1-11314 LTC PROPERTIES, INC. (Exact name of Registrant as specified in its charter) Maryland 71-0720 ...

LTC Properties, Inc. (NYSE:LTC) Q2 2022 Results Conference Call July 29, 2022 11:00 AM ET Company Participants Wendy Simpson - Chairman and Chief Executive Officer Pamela Kessler - Co-President and Chief Financial Officer Clint Malin - Co-President and Chief Investment Officer Conference Call Participants Michael Carroll - RBC Capital Markets Connor Siversky - Berenberg Steven Valiquette - Barclays Arthur Porto - KeyBanc Capital Markets Tayo Okusanya - Credit Suisse Daniel Bernstein - Capital One Juan Sanab ...