Financial Performance - Net income for the quarter ended September 30, 2024, was $75,289,000, an increase from $22,627,000 in the same quarter of the previous year[153]. - The company reported an adjusted EBITDA of $122,023,000 for the quarter ended September 30, 2024, compared to $39,930,000 for the same quarter last year[153]. - GAAP net income available to common stockholders for Q3 2024 was $29,165,000, compared to $22,050,000 in Q3 2023, representing a 32.3% increase[171]. - Net income attributable to LTC Properties, Inc. for the three months ended September 30, 2024, was $29,366, an increase of $7,169 compared to $22,197 for the same period in 2023, reflecting a growth of approximately 32.3%[162]. - Total revenues for the three months ended September 30, 2024, reached $55,783, up $6,480 from $49,303 in the same period of 2023, indicating a growth of approximately 13.1%[162]. - Funds from Operations (FFO) available to common stockholders for the nine months ended September 30, 2024, was $72,446, an increase of $11,381 compared to $61,065 for the same period in 2023, representing a growth of approximately 18.6%[165]. - Interest income from financing receivables for the nine months ended September 30, 2024, was $14,661, an increase of $3,248 compared to $11,413 for the same period in 2023, indicating a growth of approximately 28.4%[164]. - The company experienced an impairment loss of $12,510 during the nine months ended September 30, 2024, which was a significant factor affecting overall financial performance[164]. Revenue Sources - Rental income, income from financing receivables, and interest income from mortgage loans accounted for 62.0%, 9.3%, and 22.8% of total revenues for the nine months ended September 30, 2024, respectively[113]. - As of September 30, 2024, the company’s total rental revenue was $135.2 million, which represents 100% of total revenues for the period[111]. - Interest income from financing receivables for the nine months ended September 30, 2024, was $14.7 million, with $11.7 million received in cash[119]. - Interest income from mortgage loans for the same period was $35.8 million, including $32.7 million received in cash[120]. Investment Portfolio - As of September 30, 2024, the company had a net carrying value of investments totaling $1.7 billion, with $942.3 million (54.2%) in owned and leased properties, $357.9 million (20.6%) in financing receivables, and $360.8 million (20.7%) in mortgage loans[112]. - The company’s gross investments in owned properties amounted to $1.34 billion, representing 62.6% of the total investment portfolio, with assisted living properties contributing $732.1 million (34.1%) and skilled nursing properties contributing $598.1 million (27.9%) to the total[111]. - The company operates 124 owned properties, including 73 assisted living facilities and 50 skilled nursing centers, with a total of 9,360 beds and 7,419 units across its portfolio[111]. - Financing receivables totaled $361.5 million, representing 16.8% of the company's total investments, with assisted living contributing $284.9 million (13.3%) and skilled nursing contributing $76.6 million (3.5%) to this category[111]. - The company’s investment strategy focuses on diversifying its portfolio by geographic location, operator, property classification, and form of investment[104]. Debt and Liquidity - The debt to gross asset value ratio improved to 34.5% as of September 30, 2024, down from 42.1% a year earlier[152]. - The interest coverage ratio was reported at 3.8x for the quarter ended September 30, 2024, compared to 3.2x for the same quarter last year[153]. - Total liquidity as of September 30, 2024, was $229,448,000, including cash and cash equivalents of $35,040,000[172]. - The outstanding balance of the revolving line of credit was $240,150,000 as of September 30, 2024, with $184,850,000 available for borrowing[187]. - The company repaid $93,800,000 under its unsecured revolving line of credit after September 30, 2024, reducing the outstanding balance to $146,350,000[187]. Regulatory Environment - Future regulatory changes in Medicare and Medicaid could adversely affect the financial condition of the company's borrowers and lessees[145]. - CMS estimated a net increase of 4.2%, or approximately $1.4 billion, in Medicare Part A payments to SNFs for fiscal year 2025[141]. - The final rule from CMS includes a total nurse staffing standard of 3.48 hours per resident day, which must include at least 0.55 hours of direct registered nurse care[142]. Shareholder Returns - The company declared and paid $74.7 million in cash dividends during the nine months ended September 30, 2024[189]. - Subsequent to September 30, 2024, the company declared a monthly cash dividend of $0.19 per share for October, November, and December 2024[190]. - The company sold 1,886,900 shares of common stock for $65.6 million in net proceeds during the nine months ended September 30, 2024, with $9.6 million available under the Equity Distribution Agreements as of that date[191]. - Subsequent to September 30, 2024, the company sold an additional 226,370 shares for $7.9 million in net proceeds, leaving $1.5 million available under the Equity Distribution Agreements[191]. Strategic Initiatives - The company plans to make additional investments in healthcare-related properties, funded through cash on hand, asset sales, and internally generated cash flows[108]. - The company continues to monitor economic factors and develop strategic plans to improve performance and maximize competitive position in the market[160]. - The company has structured its investments to mitigate payment risk, utilizing credit enhancements such as guarantees and letters of credit[107]. Joint Ventures and Acquisitions - A joint venture with ALG Senior Living was formed, exchanging a $64.5 million mortgage loan receivable for a 53% controlling interest[122]. - The company entered into a newly formed $122,460 joint venture with ALG, exchanging a $64,450 mortgage loan receivable for a 53% controlling interest[134]. - Brookdale acquired a parcel of land in Kansas for $0.3 million, resulting in an 8.0% rent increase on the total investment[131]. Market Conditions - The operator mix indicates that the top five operators accounted for a significant portion of the company's investments, with ALG Senior at $307,308,000 as of September 30, 2024[149]. - The geographic mix shows Texas as the leading state with investments totaling $323,737,000 as of September 30, 2024[149]. - There were no material changes in the company's market risk during the nine months ended September 30, 2024[197].

Group 1: United Parcel Service (UPS) - UPS is one of the largest logistics companies globally, providing services in over 200 countries and territories [2] - The company experienced a 1.1% drop in consolidated revenues and a 30.1% decline in consolidated operating profit in Q2 2023 compared to the previous year [3] - Despite recent challenges, UPS returned to volume growth in the U.S. for the first time in nine quarters, indicating a potential turning point [4] - UPS is acquiring Estafeta, a leading Mexican express delivery company, which is expected to enhance its business as Mexico's role in global trade increases [5] - The company offers a dividend yield of 4.8% and has consistently maintained or increased its dividend since going public in 1999 [5] Group 2: LTC Properties Inc. - LTC Properties is a real estate investment trust (REIT) focused on senior housing and healthcare properties, maintaining monthly dividends throughout the COVID-19 pandemic [6][7] - The company has a strong track record with 233 consecutive monthly dividend payments and a conservative balance sheet [7] - The aging U.S. population presents significant growth opportunities, with over 4.1 million Americans turning 65 each year through 2027, increasing demand for LTC Properties [8] - The adult population aged 85 or older is projected to reach 11 million by 2035 and 17 million by 2050, further driving demand for senior housing and skilled nursing properties [8] - LTC Properties offers a dividend yield of 6.2%, making it an attractive income investment [9]

LTC Properties (LTC) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Individual investors often ...

Financial Data and Key Metrics Changes - Net income available to common shareholders increased due to an impairment loss last year, higher interest income from loan originations, receipt of insurance proceeds, and lower interest expense, partially offset by higher G&A expense and provision for credit loss [25] - Fully diluted FFO per share was $0.65 compared to $0.66, while excluding non-recurring items, FFO per share was $0.67 compared to $0.66 [25] - Total liquidity at June 30 was nearly $190 million, including over $6 million in cash, about $118 million available on the line of credit, and roughly $65 million under the ATM [7] Business Line Data and Key Metrics Changes - The company agreed to defer a total of $1.5 million in rent from ALG for May and June related to an 11-property assisted living portfolio in North Carolina [21] - The joint venture investments related to 17 properties were restructured, with a $64.5 million mortgage loan exchanged for a 53% interest in a joint venture owning 13 assisted living communities [22] - The company sold 204,700 shares of common stock for net proceeds of $6.5 million under the ATM program [10] Market Data and Key Metrics Changes - The debt to annualized adjusted EBITDA for real estate decreased to 5.3x from 5.5x in the prior quarter, while the annualized adjusted fixed charge coverage ratio increased to 3.7x from 3.5x [28] - The company expects to record approximately $884,000 of revenue from a $12.7 million mortgage loan to Ignite Medical Resorts for the full year [8] Company Strategy and Development Direction - The company remains committed to its 2024 guidance and future growth despite challenges presented by industry and operator-specific headwinds [20] - The strategy includes providing rent assistance to improve occupancy and security while gaining majority ownership in investments [30][41] - The company is actively monitoring the market for potential investment opportunities, particularly in light of $25 billion in debt maturities through 2026 [48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of occupancy rates and the overall improvement across the industry [30][103] - The company is focused on addressing staffing challenges and improving occupancy in certain communities [39] - Management noted that the impact of a cyber attack on Medicaid revenues was a temporary issue that affected ALG [39] Other Important Information - The company welcomed a new Board member, Bradley Preber, who is the Chairman of the Audit Committee [12] - The company recorded $2.6 million of income from former operators related to portfolio transitions in prior years [27] Q&A Session Summary Question: What caused the deferrals and changes with ALG? - The issues stemmed from occupancy challenges and a cyber attack affecting Medicaid revenues, leading to staffing challenges in certain communities [39][34] Question: How does the company view the purchase options provided to ALG? - The purchase options were part of negotiations to provide a pathway for recovery of deferred rent and to maintain a good relationship with ALG [40][68] Question: What is the outlook for occupancy recovery in the affected assets? - Management indicated that occupancy is beginning to recover, and ALG is addressing staffing challenges [50][103] Question: How significant are the deferral balances and recovery agreements? - The primary balance outstanding is approximately $3.5 million, with various security instruments in place for recovery [51][53] Question: What is the company's strategy regarding future investments and market opportunities? - The company is actively monitoring the market for investment opportunities, particularly in light of upcoming debt maturities [48]

LTC Properties (LTC) came out with quarterly funds from operations (FFO) of $0.65 per share, missing the Zacks Consensus Estimate of $0.66 per share. This compares to FFO of $0.66 per share a year ago. These figures are adjusted for non-recurring items. LTC, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $31.66 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 6.67%. This compares to year-ago revenues of $31.54 million. The company has to ...

[PART I -- Financial Information](index=3&type=section&id=PART%20I%20--%20Financial%20Information) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents LTC Properties, Inc.'s unaudited consolidated financial statements as of June 30, 2024, including balance sheets, income, comprehensive income, equity, and cash flow statements, with detailed notes [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets increased to $1.89 billion, total liabilities decreased to $908.0 million, and total equity rose to $982.8 million Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2024 (unaudited) | December 31, 2023 (audited) | | :--- | :--- | :--- | | **Total Assets** | **$1,890,716** | **$1,855,098** | | Real estate investments, net | $1,696,658 | $1,661,263 | | Financing receivables, net | $357,910 | $196,032 | | Cash and cash equivalents | $6,174 | $20,286 | | **Total Liabilities** | **$907,959** | **$938,831** | | Revolving line of credit | $281,750 | $302,250 | | Senior unsecured notes, net | $479,522 | $489,409 | | **Total Equity** | **$982,757** | **$916,267** | [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) For the six months ended June 30, 2024, total revenues increased to $101.5 million, and net income attributable to LTC Properties, Inc. rose to $43.6 million ($1.00 per diluted share) Income Statement Summary (in thousands, except per share data) | Metric | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Total Revenues | $101,482 | $97,746 | | Rental income | $65,206 | $63,272 | | Interest income from mortgage loans | $25,109 | $23,170 | | Total Expenses | $61,321 | $74,008 | | Impairment loss | $0 | $12,510 | | Net Income Attributable to LTC | $43,591 | $39,308 | | Diluted EPS | $1.00 | $0.95 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For H1 2024, net cash from operating activities increased to $57.9 million, while net cash used in investing activities significantly decreased to $1.0 million, and financing activities shifted to a net cash outflow of $71.0 million Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $57,910 | $46,534 | | Net cash used in investing activities | $(1,009) | $(187,401) | | Net cash (used in) provided by financing activities | $(71,013) | $137,514 | | **Decrease in cash and cash equivalents** | **$(14,112)** | **$(3,353)** | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail accounting policies, real estate portfolio composition, significant lease transitions, new joint ventures, debt structure, equity activities, and major operator concentration - LTC invests primarily in seniors housing (ALF, ILF, MC) and skilled nursing (SNF) properties through various structures like sale-leasebacks, mortgage financing, and joint ventures[20](index=20&type=chunk) - The 35-property Brookdale master lease that matured in Dec 2023 was resolved by re-leasing 17 properties to Brookdale, transitioning 10 to other operators, and selling 8[29](index=29&type=chunk) - During Q2 2024, the company entered into two new joint ventures with ALG Senior Living, exchanging **$102.4 million** in mortgage loans for controlling interests in the JVs, accounted for as financing receivables[54](index=54&type=chunk)[59](index=59&type=chunk) - Prestige Healthcare is the largest operator, representing **16.2% of total revenues** and **14.0% of total assets** as of June 30, 2024[97](index=97&type=chunk) - Subsequent to quarter-end, an operator repaid **$10.4 million** of a working capital note, and the company paid down **$18.2 million** of its senior unsecured notes[104](index=104&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's business strategy, portfolio composition, and financial results, highlighting operator updates, increased H1 2024 revenues and net income, and sufficient liquidity [Real Estate Portfolio Overview](index=43&type=section&id=Real%20Estate%20Portfolio%20Overview) As of June 30, 2024, LTC's gross investment portfolio totaled approximately $2.2 billion across 194 properties, diversified primarily in Assisted Living (53.3%) and Skilled Nursing (45.8%), with owned properties as the largest investment type Gross Investment Portfolio by Type (June 30, 2024) | Investment Type | Gross Investments (in thousands) | Percentage of Portfolio | | :--- | :--- | :--- | | Owned Properties | $1,342,069 | 61.4% | | Financing Receivables | $361,525 | 16.5% | | Mortgage Loans | $393,375 | 18.0% | | Notes Receivable | $58,995 | 2.7% | | Unconsolidated Joint Ventures | $30,504 | 1.4% | | **Total Portfolio** | **$2,186,468** | **100.0%** | - A master lease covering 11 skilled nursing centers in Texas was extended to December 31, 2028, with an immediate annual rent increase from **$8.0 million to $9.0 million** for 2024[123](index=123&type=chunk)[124](index=124&type=chunk) [Update on Certain Operators](index=47&type=section&id=Update%20on%20Certain%20Operators) LTC formed two new joint ventures with ALG Senior Living by exchanging mortgage loans for controlling interests and agreed to defer interest and provide temporary rent relief, while amending a mortgage loan with Prestige Healthcare to an 8.5% current pay rate - Formed two new JVs with ALG by exchanging **$64.5 million** and **$38.0 million** in mortgage loans for controlling interests in the ventures, now cross-collateralized with other ALG investments[130](index=130&type=chunk)[131](index=131&type=chunk) - Agreed to defer up to **$1.5 million** in interest from an ALG financing receivable portfolio for July-Dec 2024 and provided rent relief on another ALG-operated property[133](index=133&type=chunk)[135](index=135&type=chunk) - Amended a mortgage loan with Prestige Healthcare, its largest operator (**16.2% of revenue**), to an **8.5%** current pay rate, using security deposits to receive the full **10.8%** contractual interest rate[136](index=136&type=chunk)[137](index=137&type=chunk) [Operating Results](index=62&type=section&id=Operating%20Results) Net income available to common stockholders significantly increased to $19.2 million in Q2 2024 from $6.0 million in Q2 2023, and to $43.3 million for H1 2024 from $39.0 million in H1 2023, primarily due to the absence of impairment losses Comparison of Operating Results (in thousands) | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Total Revenues | $50,116 | $48,246 | $1,870 | | Impairment Loss | $0 | $12,076 | $(12,076) | | Net Income Available to Common Stockholders | $19,188 | $6,028 | $13,160 | Comparison of Operating Results (in thousands) | Metric | H1 2024 | H1 2023 | Change | | :--- | :--- | :--- | :--- | | Total Revenues | $101,482 | $97,746 | $3,736 | | Gain on sale of real estate, net | $3,219 | $15,675 | $(12,456) | | Net Income Available to Common Stockholders | $43,253 | $39,015 | $4,238 | [Funds From Operations (FFO)](index=65&type=section&id=Funds%20From%20Operations%20Available%20to%20Common%20Stockholders) NAREIT FFO attributable to common stockholders increased to $28.2 million in Q2 2024 from $27.2 million in Q2 2023, and to $58.2 million for H1 2024 from $54.4 million in H1 2023 NAREIT FFO Reconciliation (in thousands) | | Three Months Ended June 30, | Six Months Ended June 30, | | :--- | :--- | :--- | | | **2024** | **2023** | **2024** | **2023** | | GAAP net income available to common stockholders | $19,188 | $6,028 | $43,253 | $39,015 | | Add: Depreciation and amortization | $9,024 | $9,376 | $18,119 | $18,586 | | Add: Impairment loss | $0 | $12,076 | $0 | $12,510 | | Less: Gain on sale of real estate, net | $32 | $(302) | $(3,219) | $(15,675) | | **NAREIT FFO attributable to common stockholders** | **$28,244** | **$27,178** | **$58,153** | **$54,436** | [Liquidity and Capital Resources](index=67&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2024, LTC had total liquidity of $189.3 million, comprising cash, available revolving credit, and ATM equity, deemed sufficient for obligations and dividends, with the credit facility maturity extended to November 2026 Total Liquidity as of June 30, 2024 (in thousands) | Source | Amount | | :--- | :--- | | Cash and cash equivalents | $6,174 | | Available under revolving line of credit | $118,250 | | Available under Equity Distribution Agreements | $64,905 | | **Total Liquidity** | **$189,329** | - The company extended the maturity of its **$400 million** revolving credit facility to November 19, 2026[188](index=188&type=chunk) - In H1 2024, the company sold **343,800 shares** for **$11.0 million** in net proceeds under its At-The-Market (ATM) program[200](index=200&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=75&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) There were no material changes in the company's market risk during the six months ended June 30, 2024 - There were no material changes in market risk during the six months ended June 30, 2024[208](index=208&type=chunk) [Item 4. Controls and Procedures](index=75&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2024, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that disclosure controls and procedures were effective as of June 30, 2024[209](index=209&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[210](index=210&type=chunk) [PART II -- Other Information](index=75&type=section&id=PART%20II%20--%20Other%20Information) [Item 1. Legal Proceedings](index=75&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various ordinary course claims and lawsuits, none of which are considered material to its financial condition or results of operations - The company is involved in various claims and lawsuits arising in the ordinary course of business, but none are anticipated to be material[212](index=212&type=chunk) [Item 1A. Risk Factors](index=75&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 - No material changes have occurred from the risk factors disclosed in the 2023 Form 10-K[213](index=213&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=76&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None[214](index=214&type=chunk) [Item 5. Other Information](index=76&type=section&id=Item%205.%20Other%20Information) The company reported no other information under this item - None[214](index=214&type=chunk) [Item 6. Exhibits](index=77&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate governance documents, CEO/CFO certifications, and Inline XBRL data files - Exhibits filed include corporate governance documents, CEO/CFO certifications required by the Sarbanes-Oxley Act, and XBRL financial data[216](index=216&type=chunk)

Exhibit 99.1 FOR IMMEDIATE RELEASE For more information contact: Mandi Hogan (805) 981-8655 LTC REPORTS 2024 SECOND QUARTER RESULTS WESTLAKE VILLAGE, CALIFORNIA, July 29, 2024 -- LTC Properties, Inc. (NYSE: LTC) ("LTC" or the "Company"), a real estate investment trust that primarily invests in seniors housing and health care properties, today announced operating results for the second quarter ended June 30, 2024. | | | | Three Months Ended | | | --- | --- | --- | --- | --- | | | | | June 30, | | | (unaudite ...

Financial Data and Key Metrics Changes - Total rental revenue increased by $1.8 million due to property sales and operator transitions [29] - Fully diluted FFO per share was $0.69, compared to $0.66 in the previous year [17] - Net income available to common shareholders decreased by $8.9 million primarily due to lower gains on the sale of real estate [31] - Interest expense increased by $436,000 mainly due to higher interest rates and a higher outstanding balance on the revolving line of credit [30] Business Line Data and Key Metrics Changes - Interest income from mortgage loans increased by $1.2 million, mainly related to mortgage loan originations in 2023 and funding of a construction loan in 2024 [7] - The provision for credit losses decreased by $1.7 million due to a higher dollar volume of loan originations in the prior year [16] - Annual rent in 2024 is projected to be $9 million, a $1 million increase over 2023 [22] Market Data and Key Metrics Changes - In Florida, operators will benefit from an unprecedented 8% Medicaid rate increase, resulting in increased coverage for LTC [27] - Occupancy for the Prestige Healthcare loan secured by 15 properties in Michigan was 77% in March 2024, up from 73% a year ago [39] - Private pay occupancy was 88% at March 31, up from 87% at both January 31 and September 30, 2023 [48] Company Strategy and Development Direction - The company is focusing on strategic long-term and sustainable growth as its key focus for 2024 [3] - The seniors housing and care industry is on a promising upturn, driven by favorable demographic trends and improving margins [11] - The company is evaluating multiple investment opportunities and aims to enhance its portfolio while achieving the best risk-adjusted returns for shareholders [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the reimbursement landscape, particularly with a 4.1% increase anticipated under the SNF payment rule for fiscal 2025 [4] - The company is building its pipeline with varied opportunities across financing vehicles, property types, and operators [41] - Management noted that inflation remains a wild card, but they are confident in their ability to navigate the current environment [41] Other Important Information - The company sold six properties in Florida and Texas with a combined sales price of $26.3 million, receiving proceeds of $25.4 million net of transaction costs [32] - The company has total liquidity of nearly $197 million, including $9 million in cash on hand [35] - The company has a debt to annualized adjusted EBITDA for real estate metric of 5.5 times, which is expected to improve by year-end [20] Q&A Session Summary Question: Can you share additional detail around the style and scope of the pipeline? - Management indicated that they are seeing more opportunities to invest in private pay assets and select skilled nursing opportunities, with a focus on senior loans and construction loans [54][55] Question: What is the appetite for loan-type investments and their average duration? - Management expressed a strong appetite for loan-type investments, indicating that they are looking at opportunities that could lead to equity investments in the future [72] Question: Can you provide more color on the HMG lease negotiations? - Management explained that the lease amendment was facilitated by improved occupancy and margins, allowing for a longer-term agreement with increased rent [95][118]

LTC Properties (LTC) came out with quarterly funds from operations (FFO) of $0.69 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to FFO of $0.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 7.81%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.69 per share when it actually produced FFO of $0.57, delivering a surprise of -17.39%.Over the last four quar ...

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 March 31, 2024 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 juri ...