LTC PROPERTIES INC SEC Filings

LTC Properties, Inc. entered into a new Equity Distribution Agreement allowing the company to issue and sell, from time to time, up to an aggregate offering price of $500 million of common stock through multiple financial institutions acting as principals, sales agents and/or forward sellers. Sales may be made in negotiated or block transactions or as "at the market" offerings on the New York Stock Exchange or through market makers.

The company also executed Master Forward Confirmations with several forward purchasers, enabling forward sale agreements in which a forward purchaser borrows and sells shares now, with LTC generally expecting to physically settle later and receive cash equal to the shares delivered multiplied by the applicable forward price. LTC will not initially receive proceeds from the sale of borrowed shares and may alternatively elect cash or net share settlement for particular forwards.

LTC intends to use net cash proceeds from share issuances to pay down its unsecured revolving credit line, fund acquisitions and originations, and for working capital and other general corporate purposes. In connection with the new program, LTC terminated its prior at-the-market equity distribution agreement, which had authorized up to $400 million of common stock sales and had approximately $90 million of capacity remaining at termination.

LTC Properties, Inc. is establishing a new at-the-market equity program to offer and sell shares of its common stock, having an aggregate offering price of up to $500,000,000, through multiple sales agents and via forward sale agreements. Sales may be made on the NYSE or through other brokered or negotiated transactions, with agent or forward-selling commissions up to 2.0% of the gross sales price.

The company may also have forward purchasers borrow and sell shares, with LTC receiving cash proceeds later upon physical settlement at an adjusted forward sale price. LTC intends to use net proceeds, including any from forward settlements, to repay amounts outstanding under its $900 million unsecured revolving credit facility, fund acquisitions and originations, and for working capital and other general corporate purposes. As of July 31, 2026, approximately $356 million was outstanding under the revolver, which matures on July 21, 2029 and bears interest at 105 basis points over SOFR. Common stock trades on the NYSE under the symbol LTC, and the last reported sale price on August 5, 2026 was $38.72 per share.

LTC Properties, a healthcare REIT focused on seniors housing and skilled nursing, reported strong mid‑2026 results. Total assets were $2,176,858 (thousands) at June 30, 2026, with a portfolio spanning triple‑net leases, its SHOP operating segment, financing receivables, mortgage loans and notes receivable.

For the quarter ended June 30, 2026, total revenues were $98,859 (thousands) versus $60,240 (thousands) a year earlier. Net income attributable to LTC was $29,637 (thousands), and net income available to common stockholders was $29,479 (thousands), equal to basic and diluted EPS of $0.57 and $0.56, respectively. Six‑month net income available to common stockholders was $52,916 (thousands), with diluted EPS of $1.05; dividends were $1.14 per share year‑to‑date.

LTC continued expanding its SHOP segment, acquiring five seniors housing communities for a purchase price of $171,455 (thousands) and converting four leased communities (247 units, gross book value $59,387 (thousands)) into SHOP. Operating cash flow for the first half was $65,142 (thousands). Debt totaled $777,090 (thousands), and the amended unsecured credit facility increased revolving capacity to $900,000 (thousands), with additional term loans and interest rate swaps used as cash flow hedges.

LTC Properties, Inc., a seniors housing and health care REIT, reported second quarter 2026 results with total revenues of $98,859 (amounts in thousands) and net income available to common stockholders of $29,479, compared with $60,240 and $14,938 in the prior-year quarter. Diluted EPS was $0.56 versus $0.32.

Nareit FFO attributable to common stockholders was $34,288 (thousands), or $0.66 per diluted share, and FAD was $35,605 (thousands), or $0.68 per share. The SHOP platform reached 39 communities, representing 37% of total gross real estate investments at July 31, 2026, and generated quarterly SHOP NOI of $13,924 (thousands).

Management raised the mid-point of 2026 SHOP investment guidance to $900 million, expects about $700 million of year-to-date SHOP acquisitions by the end of the third quarter, and projects SHOP to contribute 40% of proforma annualized NOI by that time and nearly 50% by year-end. Full-year 2026 diluted EPS guidance is $8.08–$8.10, with diluted Core FFO per share of $2.76–$2.78 and diluted Core FAD per share of $2.83–$2.85, supported by planned dispositions and payoffs now projected at $730 million and an expanded $1 billion credit facility.

LTC Properties Inc director Timothy Triche reported an open-market sale of 3,125 shares of Common Stock on 2026-07-13 at $39.54 per share. Following the transaction, he holds 37,786 shares directly, including 187 shares acquired through LTC Properties, Inc.'s dividend reinvestment plan. No derivative securities are reported in this filing.

LTC proposes the sale of common stock under a Form 144 notice. A holder plans to sell 3,125 shares of common stock through Morgan Stanley Smith Barney LLC Executive Financial Services on the NYSE, with an indicated aggregate value of $123,562.50. The shares were acquired on May 20, 2026 in a private acquisition from the issuer or an affiliate as compensation for services rendered.

LTC Properties, Inc. expanded its main bank credit facility by amending its existing Credit Agreement. The amendment increases total lender commitments from $800 million to $1.1 billion by using the agreement’s incremental facility feature.

The revolving credit commitments within this facility rise from $600 million to $900 million, and the total maximum commitments permitted under the agreement grow from up to $1.2 billion to up to $2.0 billion. Other material terms of the credit agreement remain unchanged.

LTC also entered into three-year interest rate swap agreements that effectively fix the interest rate on $150 million of borrowings under the credit facility at 4.97% per year, providing more predictable borrowing costs on that portion of its debt.

LTC Properties executive David M. Boitano, EVP & CIO, bought 10,000 shares of LTC Properties common stock in open-market transactions. He purchased 5,000 shares at $34.85 and 5,000 shares at $34.69 on June 4, 2026, bringing his direct holdings to 46,160 shares.

LTC Properties, Inc. reported the results of its 2026 annual stockholder meeting held virtually on May 20, 2026. Stockholders elected six directors to serve for the next year, with support levels generally above 32 million votes for each nominee; for example, Cornelia Cheng received 32,478,949 votes for and 247,411 against.

Stockholders also approved, on an advisory basis, the compensation of LTC’s named executive officers, with 31,454,030 votes for and 1,228,903 against. In addition, they ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for fiscal 2026, with 38,142,277 votes for and 1,191,990 against.