secwatch.observer — SEC 8-K summary
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Issuer:     LTC PROPERTIES INC (LTC)
CIK:        0000887905
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001558370-23-016862
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LTC Q3 net income $22.05M ($0.54 EPS) vs $13.16M ($0.32) YoY; FFO $0.65
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- Net income $22.05M vs $13.16M; diluted EPS $0.54 vs $0.32; NAREIT FFO $0.65 vs $0.60.
- Originated $17M mezzanine loan (8.75% yield, 12% IRR); committed $19.5M mortgage for MI construction.
- Sold five assisted living communities for $14.1M; entered agreements to sell seven Brookdale properties for ~$27.2M.
- Brookdale re-lease: new master lease starts Jan'24 with initial rent $8.0M, 2% escalations; amended post-Q3 to add 7 properties, rent $9.3M.
- Prestige Healthcare: deferred interest paid via LC draw; Jan'24 min current pay rate set at 8.5% (contractual 10.8% unchanged).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887905/000155837023016862/0001558370-23-016862-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887905/000155837023016862/ltc-20231026x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-016862

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