LTC Properties Q3 2022 net income up 21% to $13.2M; FFO per share $0.60 vs $0.45 YoY

LTC PROPERTIES INC

2022-Q3 EPS reported $2.04 revenue$127,314,000

Diluted EPS $0.32 vs $0.28 YoY; net income available to common stockholders $13.2M, up from $10.9M.
NAREIT FFO per share $0.60, FAD $26.0M; both significantly above prior year period.
Contributed $61.7M to JV for three Florida skilled nursing centers leased to PruittHealth.
Terminated master lease on 12 assisted living communities; abated $7.1M deferred rent and paid $500K termination fee.
Provided $900K temporary rent reduction to Anthem in Q3; expects full $10.8M annual rent by year-end.

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