LTC Properties Q2 2021 net income $18.1M ($0.46/diluted) vs $1.8M ($0.05) YoY; FFO $0.57 per share

LTC PROPERTIES INC

2021-Q2 EPS reported $0.81 revenue$78,409,000

Net income available to common stockholders was $18.1M ($0.46/diluted) vs $1.8M ($0.05) in Q2 2020, boosted by $5.5M gain on sale.
FFO per diluted share was $0.57, up from $0.31; FFO excluding non-recurring items was $22.2M, down from $29.7M YoY.
Sold three Wisconsin communities and a closed Nebraska property for $35.9M; proceeds $34.8M, net gain $5.4M.
Paid down $41M on unsecured line of credit; subsequent to quarter end borrowed $19M at 1.2% and paid $25.2M on senior notes.
Senior Lifestyle and other operators continue to not pay rent; LTC provided $366K deferred rent and $323K abatement in July 2021.

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