LTC Q4 net income rises 40% YoY to $17.8M; announces $121.3M JV

LTC PROPERTIES INC

2022-FY EPS reported $2.48 revenue$175,153,000

Diluted EPS $0.44 vs $0.32; NAREIT FFO per share $0.72 vs $0.56.
Net rental income up from transitioned portfolios, Anthem rent reduction, acquisitions.
Recorded $2.1M impairment on assisted living and memory care communities in FL and CO.
Post-quarter: $121.3M JV for 11 ALF/MC units in NC, 7.25% initial annual rent, purchase options.
Originated $10.8M mortgage loan at 7.25% (9% IRR); received $4.5M mezz prepayment including fee.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LTC PROPERTIES INC reported financial results for fourth quarter ended December 31, 2022.

Period: fourth quarter ended December 31, 2022
Result: reported results

Exact text from the filing

On February 16, 2023, LTC Properties, Inc. announced the operating results for the three months ended December 31, 2022.

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Source: SEC EDGAR

accession 0001104659-23-022626

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