secwatch.observer — SEC 8-K summary
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Issuer:     LTC PROPERTIES INC (LTC)
CIK:        0000887905
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001104659-23-051359
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LTC Q1 net income $32.9M, FFO $0.66; invests $179M in seniors housing
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- Net income $32.9M ($0.80 EPS) vs $14.3M ($0.36) YoY; NAREIT FFO $27.2M ($0.66).
- Invested $179.4M: $117.5M JV for 11 ALF/MC communities (7.25% yield) and $61.9M in mortgage loans.
- Sold four properties for $37.2M: two SNFs ($21.3M, gain $15.3M) and two ALFs ($15.9M).
- Provided $645k rent abatement in Q1; agreed to defer up to $1.5M interest on Michigan loan.
- Expects $9.7M GAAP and $8.8M cash interest income from ALG Senior JV in 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887905/000110465923051359/0001104659-23-051359-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887905/000110465923051359/tm238092d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-051359

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer