Ltc Properties Stock Price, News & Analysis

LTC Properties, Inc. (NYSE: LTC) announced the issuance of $75 million in senior unsecured notes at a 3.66% interest rate, maturing on May 17, 2033. The funds will support growth initiatives and pay down existing debt. Year-to-date, LTC has invested approximately $113 million and realized a net gain of $38 million from asset sales. The company also amended its senior unsecured note agreements for compliance with its credit covenants. CEO Wendy Simpson noted that this financing enhances liquidity amid rising interest rates.

LTC Properties, Inc. (NYSE: LTC) announced a $36.0 million investment for refinancing debt on four assisted living communities in North Carolina, comprising 217 units, and a land parcel for future development. The financing includes a $35.1 million mortgage loan and a $826,000 loan for land, both with a four-year term at a 7.25% interest rate. Year-to-date, LTC has invested over $110 million in new constructions, demonstrating its strategy to capitalize on strategic opportunities.

LTC Properties reported its Q1 2022 results, highlighting a net income of $14.3 million ($0.36 per share) compared to $13.6 million ($0.35 per share) in Q1 2021. NAREIT FFO attributable to common stockholders declined to $23.6 million from $24.3 million year-over-year. Key factors affecting results included lower rental income due to transitions in property management and lease terminations, partially offset by increased income from newly transitioned properties and higher interest income from mortgage loans. LTC originated a $25 million mezzanine loan and completed other significant transactions to enhance its portfolio.

LTC Properties, Inc. (NYSE:LTC) will release its first quarter earnings on April 28, 2022, after market close. A conference call is scheduled for April 29, 2022, at 8:00 a.m. Pacific to discuss performance for the quarter ending March 31, 2022. LTC, a real estate investment trust focusing on seniors housing and health care properties, has a portfolio of 202 properties across 29 states. Investors can access the earnings release and supplemental information on the company’s website.

LTC Properties, Inc. (NYSE: LTC) has expanded its partnership with Ignite Medical Resorts by acquiring four LuxeRehab centers in Texas for approximately $52 million. The centers have a total of 339 beds and will operate under a 10-year lease with Ignite, featuring rent escalation based on Medicare rates. LTC expects to receive about $1.0 million in rent per quarter by late 2022 and approximately $4.3 million in 2023. LTC is committed to growth and new investments while continuing to support Ignite.

LTC Properties (NYSE:LTC) has declared a monthly cash dividend of $0.19 per share for the second quarter of 2022. The dividend will be payable on April 29, May 31, and June 30, 2022, to stockholders of record on April 21, May 23, and June 22, 2022, respectively. LTC Properties focuses on real estate investments in seniors housing and health care properties, managing 198 properties across 29 states.

LTC Properties Inc. (NYSE: LTC), a real estate investment trust focused on seniors housing and health care properties, will participate in the Credit Suisse Inaugural Healthcare REIT Summit in New York on April 5, 2022. The presentation package will be accessible online for investors. LTC's portfolio comprises 198 properties across 29 states, evenly split between seniors housing and skilled nursing facilities. The company's investment strategies include sale-leasebacks, mortgage financing, and joint ventures.

LTC Properties, Inc. (NYSE: LTC) has announced a $25 million mezzanine loan to recapitalize a five-property seniors housing portfolio located in Oregon and Montana. The loan features an 8% interest rate and a term of five years with two one-year extension options, yielding an internal rate of return (IRR) of 11%. This investment aligns with LTC's strategy to foster growth and strengthen ties with regional operators, enhancing its portfolio of 198 properties across 29 states.

LTC Properties, Inc. (NYSE: LTC) reported fourth-quarter results for 2021, showing a net income of $12.7 million, down from $17.5 million in 2020. Diluted earnings per share decreased to $0.32 from $0.45, while NAREIT FFO fell to $22.1 million, a decline from $30.4 million in the prior year. Factors impacting results included lower rental income from property transitions, increased general and administrative expenses, and higher provisions for credit losses. LTC originated several new mortgage loans totaling $96.2 million, aiming for enhanced rental income in 2022.