secwatch.observer — SEC 8-K summary
======================================

Issuer:     LTC PROPERTIES INC (LTC)
CIK:        0000887905
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001558370-24-006116
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LTC Q1 net income falls 27% to $24.1M; FFO per share rises to $0.69
-------------------------------------------------------------------

- Net income available to common stockholders of $24.1M ($0.56 diluted EPS) vs $32.9M ($0.80) year ago.
- NAREIT FFO per share of $0.69 vs $0.66; FAD of $31.3M vs $30.1M.
- Sold seven assisted living communities for net gain of $3.3M; sold JV interest for $23.1M.
- After quarter end: originated $12.7M mortgage loan at 9.15% and amended HMG master lease (11 SNFs) with rent increasing to $9.0M in 2024.
- HMG agreed to repay $11.9M working capital note; LTC repaid $25.2M on credit line and raised $4.5M via equity issuance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887905/000155837024006116/0001558370-24-006116-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887905/000155837024006116/ltc-20240429x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-006116

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