LTC Q2 net income $54.1M ($1.36 EPS), FFO $0.64; acquires $51.5M in skilled nursing

LTC PROPERTIES INC

2022-Q2 EPS reported $1.73 revenue$83,811,000

Net income $54.1M ($1.36 diluted EPS) vs $18.1M ($0.46) in Q2 2021; FFO per share $0.64 vs $0.57.
Acquired 4 skilled nursing centers in Texas for $51.5M; originated $35.9M mortgage loans on 4 assisted living communities.
Sold 3 assisted living and 1 skilled nursing property for total proceeds of $73.9M, recognizing combined gains of $38.0M.
Issued $75M 3.66% senior unsecured notes due 2033; subsequent to quarter, terminated master lease on 12 AL communities.
Provided temporary rent reductions and deferrals; Anthem received $600K deferral in Q2 and $900K for Q3 2022.

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