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MarketScreener Homepage  >  Equities  >  Nyse  >  LTC Properties, Inc.    LTC

LTC PROPERTIES, INC.

(LTC)
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LTC Properties : Juniper Communities Presentation - Lynne Katzmann guest speaker

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07/31/2020 | 11:51am EDT

LTC Earnings Call

July 31, 2020

Overview of Comments

  • How it all began: Understanding Covid-19 and Impact on Senior Housing
  • Juniper's Covid-19 Journey: A Three Phase Strategy
  • Crisis Management
  • Reopening: The Pathway Forward
  • The New Normal
  • Lessons Learned

Juniper Communities and LTC Presentation - 7/31/20

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The Covid-19 Reality: A Radical Shift in A Few Short Weeks

12/31/19: CDC becomes aware of cases in China

1/8/20: CDC issues first public alert in US

1/21/20: First reported US case in Washington (state)

1/29/20: White House Coronavirus Task Force formed

2/29/20: First death at Evergreen Health Care in Kirkland, WA

3/11/20: 1,100 confirmed cases in the US; WHO declares a global pandemic

3/12/20: HHS places first order for N95 masks; delivery around the end of April

3/16/20: Trump issues guidelines urging people to avoid social gatherings of 10 or more and to avoid discretionary travel; warned of possible recession 3/27/20: Trump signs CARES Act

3/31/20: 164,620 confirmed cases; 3,170 deaths and 1.07M tests completed

Juniper Communities and LTC Presentation - 7/31/20

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Our Covid-19 Journey

Juniper Communities and LTC Presentation - 7/31/20

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A 30,000 Foot View of Juniper's Covid-19 Strategy

Our Goal: Keeping residents and associates healthy and safe

Our Approach: Proactive testing and proactive infection control

Juniper Communities and LTC Presentation - 7/31/20

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Public Health Strategy Around the World: Juniper Learns from the Success of Others

The most successful countries in combatting COVID have adopted an infection prevention strategy which prioritizes testing:

- Germany

- South Korea

Juniper Communities and LTC Presentation - 7/31/20

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Crisis Management: Juniper's Covid-19 Strategy/Process

  1. Testing, contact tracing and Isolation (Defining the Problem, Identifying Risk and Protective Factors)
  2. Stepped up Infection Control Practices (Develop and Test Prevention Strategies)
    1. Handwashing, Social Distancing
    2. Use of PPE
    3. Cleaning and Disinfecting
  3. Associate Training and Support (Assure Widespread Adoption)
  4. Enhanced Accountability and Documentation (Assure Widespread Adoption)

Juniper Communities and LTC Presentation - 7/31/20

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Juniper's Testing Strategy: Data for a Successful Battle Plan

  • Patterned after South Korean strategy to test early and universally regardless of symptoms
  • Private Lab; decision to test all residents and Associates, not only those with significant symptoms
  • Hot spot testing: roughly 50% positive; of these 70-94% asymptomatic; 70-85% recovered
  • Majority of communities test 100% negative; some (MC) shelter in place: Camp Wellspring
  • Positive tests followed with contact tracing and isolation within cohorts

Now: viral testing weekly; need daily rapid testing

Juniper Communities and LTC Presentation - 7/31/20

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Proactive Universal Testing Yields Data for a Successful Battle Plan at Juniper

Test all residents and staff

Rigorous contact tracing

Cohort residents and segregate associates

Over 70 % of residents and 90% of associates who tested positive were asymptomatic

The disease spreads silently and quickly by unknowing individuals

The vast majority of individuals, including chronically ill older adults, survive

Juniper Communities and LTC Presentation - 7/31/20

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Other Infection Control Practices

  • Cessation of non-essential visitors
  • Screening questionnaire; later to include temps
  • Risk stratification of residents and new protocols for monitoring vitals
  • Resident isolation
  • Cohorting of residents and designated staff
  • PPE (adequate supply, training in use, compliance audits)
  • Disinfecting ("Green" clean with foggers)
  • Communication (early, often and transparent)

Juniper Communities and LTC Presentation - 7/31/20

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Staff Issues/Solutions

Issues:

Illness, exposure, fear Cost!!!!

Personal Protective Equipment or PPE (access and proper use)

Solutions:

Train all to be universal workers

Extended pay when sick/exposed to protect families Higher "Appreciation Pay" for work with Covid+ residents Hero Pay for shelter in place

Sales people as recruiters

Juniper Communities and LTC Presentation - 7/31/20

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Stories from Phase 1

  • Bubbles and RVs
  • Healthcare Heroes

Juniper Communities and LTC Presentation - 7/31/20

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Stories from Phase 1 Cont.

  • Family appreciation

Recently, the world has faced a global pandemic. The manner in which Juniper has responded to this unprecedented situation has exceeded all expectations. Their communications have been thorough and prompt. Their explanations have been clear and reassuring. Their safety precautions have been extensive. Every day I receive an email update on "COVID status" in the community with helpful information. To date, they have not had one case of the virus. Over the summer, Juniper made the extra effort to arrange outside visits with family, while taking all necessary precautions. They didn't have to do this extra work, but they did. Although I can't hug them (yet), it's wonderful to visit my folks outside in the open air.

Juniper Communities and LTC Presentation - 7/31/20

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Combating

COVID-19:

Juniper's

Response By

the Numbers

Phase 2: The Pathway Forward

Our Goal: Restore Profitability while keeping residents and associates healthy, safe and engaged

Our Approach: Jumpstart

move-ins and implement

the 5 Pillars

Juniper Communities and LTC Presentation - 7/31/20

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The 5 Pillars:

The Pathway Forward in Operations

  • Prevention: Infection prevention including testing, cleaning, disinfecting and cohorting
  • People: Associate schedules, assignments and pay
  • Program: Reopening dining, connections, visitation
  • Place: Visible signs of return to normal and successful infection control
  • Packaging: Message and delivery

Driving Sales

High Level Efforts

  • Golden Triangle focused effort
  • Resituated sales office, tour protocol and model suite
  • New messaging, training and competency check
  • Additional sales support for targeted communities
  • Toolkit for rapid move-ins
  • REWARDS

High Level Results to Date

  • Digital leads:
    • July 2020 digital leads up 33% over April 2020
    • July 2020 digital leads up 48% over July 2019
  • Virtual tours catching on
  • Communities now able to do "back-stage" tours as well
  • July 2020 results: net census gain, first since March 2020

Juniper Communities and LTC Presentation - 7/31/20

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New Operator Pandemic Imperatives

  • Screen for social isolation
  • Expand access to telehealth for mental health care
  • Increase access to the internet and smart devices for continued variety in life enrichment

Lessons Learned

Leadership:

  • Centralized decision making
  • Vision; ability to set a proactive course
  • The right people in the right seats

Use technology

  • Telehealth
  • Communication
  • Activities/Social and fitness

New model: safety (small neighborhoods, dedicated staff) and social engagement

(community integration)

Juniper Communities and LTC Presentation - 7/31/20

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Phase 3: The New Normal (A Work in Progress)

  • Tech (data, communication, provider access, digital marketing, engagement)
  • Integrated health services
  • Neighborhood design
  • Gated entry (temps, screening control over who enters)
  • Disinfecting

Juniper Communities and LTC Presentation - 7/31/20

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Juniper Communities and LTC Presentation - 7/31/20

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Disclaimer

LTC Properties Inc. published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 14:51:10 UTC


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Financials (USD)
Sales 2020 163 M - -
Net income 2020 101 M - -
Net Debt 2020 633 M - -
P/E ratio 2020 12,7x
Yield 2020 7,03%
Capitalization 1 273 M 1 273 M -
EV / Sales 2020 11,7x
EV / Sales 2021 10,8x
Nbr of Employees 22
Free-Float 98,2%
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Mean consensus HOLD
Number of Analysts 10
Average target price 36,25 $
Last Close Price 32,44 $
Spread / Highest target 23,3%
Spread / Average Target 11,7%
Spread / Lowest Target -1,36%
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NameTitle
Wendy L. Simpson Chairman & Chief Executive Officer
Pamela J. Shelley-Kessler Co-President, Chief Financial Officer & Secretary
Clint B. Malin Co-President & Chief Investment Officer
Timothy J. Triche Independent Director
Boyd W. Hendrickson Lead Independent Director
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