Latest news with #RIDEA
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.
Associated Press
21-04-2025
- Business
- Associated Press
LTC Announces David Boitano as New Chief Investment Officer
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Apr 21, 2025-- 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 the appointment of industry veteran, David Boitano, as Executive Vice President and Chief Investment Officer, following the promotion of Clint Malin to Co-Chief Executive Officer in December 2024. This press release features multimedia. View the full release here: Dave Boitano, EVP & CIO Boitano has spent most of his seniors housing and health care finance career at Ventas, playing a pivotal role in sourcing investments, including RIDEA, with direct underwriting responsibility for more than $5.0 billion in transactions. 'We are delighted to welcome Dave to LTC,' said Malin and Co-Chief Executive Officer Pam Kessler. 'With an impressive track record in the seniors housing and health care finance sector, Dave has cultivated strong industry relationships and demonstrated success in building real estate portfolios. We believe his deep expertise will be invaluable as we drive growth and expand LTC's RIDEA platform.' 'I am excited to be joining LTC, especially now at a pivotal time as the Company embarks on its RIDEA strategy,' said Boitano. 'Throughout my career, I've admired LTC's ability to provide flexible and innovative financing solutions that support its operating partners in an evolving market. I look forward to contributing to the Company's continued success.' About LTC LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 189 properties in 25 states with 30 operating partners. Based on its gross real estate investments, LTC's investment portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties. Learn more at Forward-Looking Statements This press release includes statements that are not purely historical and are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future. All statements other than historical facts contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties. Please see LTC's most recent Annual Report on Form 10‑K and its other publicly available filings with the Securities and Exchange Commission for a discussion of these and other risks and uncertainties. All forward-looking statements included in this press release are based on information available to the Company on the date hereof, and LTC assumes no obligation to update such forward-looking statements. Although the Company's management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements. View source version on CONTACT: For more information contact: Mandi Hogan (805) 981‑8655 KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: OTHER HEALTH PROFESSIONAL SERVICES CONSUMER TECHNOLOGY RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY SENIORS REIT FINANCE OTHER TECHNOLOGY HEALTH SOURCE: LTC Properties, Inc. Copyright Business Wire 2025. PUB: 04/21/2025 03:01 AM/DISC: 04/21/2025 03:02 AM
Business Wire
21-04-2025
- Business
- Business Wire
LTC Announces David Boitano as New Chief Investment Officer
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- 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 the appointment of industry veteran, David Boitano, as Executive Vice President and Chief Investment Officer, following the promotion of Clint Malin to Co-Chief Executive Officer in December 2024. Boitano has spent most of his seniors housing and health care finance career at Ventas, playing a pivotal role in sourcing investments, including RIDEA, with direct underwriting responsibility for more than $5.0 billion in transactions. 'We are delighted to welcome Dave to LTC,' said Malin and Co-Chief Executive Officer Pam Kessler. 'With an impressive track record in the seniors housing and health care finance sector, Dave has cultivated strong industry relationships and demonstrated success in building real estate portfolios. We believe his deep expertise will be invaluable as we drive growth and expand LTC's RIDEA platform.' 'I am excited to be joining LTC, especially now at a pivotal time as the Company embarks on its RIDEA strategy,' said Boitano. 'Throughout my career, I've admired LTC's ability to provide flexible and innovative financing solutions that support its operating partners in an evolving market. I look forward to contributing to the Company's continued success.' About LTC LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 189 properties in 25 states with 30 operating partners. Based on its gross real estate investments, LTC's investment portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties. Learn more at Forward-Looking Statements This press release includes statements that are not purely historical and are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future. All statements other than historical facts contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties. Please see LTC's most recent Annual Report on Form 10‑K and its other publicly available filings with the Securities and Exchange Commission for a discussion of these and other risks and uncertainties. All forward-looking statements included in this press release are based on information available to the Company on the date hereof, and LTC assumes no obligation to update such forward-looking statements. Although the Company's management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.
