Latest news with #LTCPropertiesInc
Yahoo
07-05-2025
- Business
- Yahoo
LTC Properties Inc (LTC) Q1 2025 Earnings Call Highlights: Strategic Growth and Financial Resilience
Q : What's assumed in guidance regarding ALG's option to buy assets and their financing process? A : Pamela Shelley-Kessler, Co-CEO, explained that ALG is still working on their financing amidst uncertain rate environments. The guidance assumes they don't refinance this year and continue to pay full rent. LTC Properties Inc ( NYSE:LTC ) is navigating an uncertain rate environment, which poses challenges for securing financing for certain transactions. The company faced increased general and administrative expenses, which partially offset the gains in core FFO and FAD. LTC Properties Inc ( NYSE:LTC ) is actively pursuing opportunities to add newer, stabilized assets to its portfolio, enhancing its quality and growth potential. The company has a strong liquidity position with approximately $681 million available, supporting its growth initiatives. LTC Properties Inc ( NYSE:LTC ) reported an increase in core FFO per share to $0.65 from $0.64 and core FAD per share to $0.70 from $0.67, driven by decreased interest expenses and increased income from joint ventures. LTC Properties Inc ( NYSE:LTC ) successfully implemented its RIDEA strategy, increasing its investment pipeline to $300 million, with approximately 50% representing RIDEA opportunities. For the complete transcript of the earnings call, please refer to the full earnings call transcript . Story Continues Q: Can you provide more details on the $6.5 million lease termination payment to New Perspective? A: Clint Malin, Co-CEO, stated that the payment rewards New Perspective for value creation and provides a runway for future growth opportunities with them, as they have been successful with the asset. Q: Should we expect more triple-net-to-SHOP conversions, and what percentage of the $300 million pipeline is SHOP? A: Clint Malin noted that 50% of the pipeline represents RIDEA opportunities, with potential for other triple-net conversions, but the focus is on external growth for SHOP. Q: How was the NOI range for SHOP assets determined, and what does it imply for growth? A: Gibson Satterwhite, EVP of Asset Management, explained that the range was based on pro forma 2024 data, assuming 85% occupancy for 2025, with growth driven by lease-up in the Anthem portfolio. Q: What are the going-in cap rates for SHOP assets, and how do you balance operator and geographic diversification? A: Clint Malin mentioned that SHOP assets have going-in yields around 7%, with forward-looking yields up to 7.5%-8%. The focus is on operator concentration and diversification, with most deals being one or two assets. Q: Are there any issues with Genesis, given their presence in your top 10 operators? A: Clint Malin confirmed that LTC received May rent from Genesis and has no requests for assistance, with strong coverage in core markets. Q: How have Anthem assets performed over the past few years, and what's the outlook? A: Clint Malin noted that while there have been dips in occupancy, they have recovered previously, and the key selling season presents an opportunity for improvement. Q: Is New Perspective expected to be a core operator for future SHOP growth? A: Clint Malin affirmed that New Perspective is seen as an excellent partner for growth, given their development ability and familiarity with RIDEA. Q: What additional steps are needed to institutionalize the SHOP platform? A: Pamela Shelley-Kessler stated that while the current setup supports the conversion platform, additional hires like analysts and FP&A will be needed as the platform grows. Q: Are there any other leases with market-based resets to be aware of? A: Pamela Shelley-Kessler mentioned 14 properties with market-based resets, with expectations for continued performance improvements and income increases. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
05-05-2025
- Business
- Yahoo
LTC: Q1 Earnings Snapshot
WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — LTC Properties Inc. (LTC) on Monday reported a key measure of profitability in its first quarter. The Westlake Village, California-based real estate investment trust said it had funds from operations of $29.9 million, or 65 cents per share, in the period. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $20.5 million, or 45 cents per share. The real estate investment trust, based in Westlake Village, California, posted revenue of $49 million in the period. Its adjusted revenue was $31.4 million. LTC expects full-year funds from operations in the range of $2.65 to $2.69 per share. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on LTC at Sign in to access your portfolio
