---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-012411"
form_type: "8-K"
ticker: "LTC"
cik: "0000887905"
company_name: "LTC PROPERTIES INC"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T01:50:00.364931+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# LTC Q2 net income drops to $6M from $54M; records $12.1M impairment; FFO per share up to $0.66

## Summary
- Net income $6.0M ($0.15 diluted EPS) vs $54.1M ($1.36) YoY; includes $12.1M impairment on two assisted living communities.
- NAREIT FFO per share $0.66 vs $0.64; FAD $27.9M vs $26.8M. Core FFO and FAD excluding non-recurring items also increased.
- New investments: $45M JV contribution for Ohio campus (8.25% yield), $16.5M mortgage loan (8.75%), and subsequent $17M mezzanine loan (8.75% initial, 12% IRR).
- Operator stress: deferred up to $1.5M in interest on Prestige mortgage; provided $645K rent abatements in Q2, up to $215K/month through year-end 2023.
- Liquidity: borrowed $56.3M under revolver in Q2; post-Q2 borrowed $34M and paid $17.2M scheduled principal on senior unsecured notes.

## SEC filing metadata
- accession: 0001558370-23-012411
- form_type: 8-K
- ticker: LTC
- cik: 0000887905
- company_name: LTC PROPERTIES INC
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887905/000155837023012411/0001558370-23-012411-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887905/000155837023012411/ltc-20230727x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-012411
- JSON: https://secwatch.observer/filing/0001558370-23-012411.json
- Plain text: https://secwatch.observer/filing/0001558370-23-012411.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.