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

LTC PROPERTIES, INC.

(LTC)
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LTC Properties : Q3 2020 Supplemental Operating and Financial Data

10/29/2020 | 03:25pm EST

Ignite Medical Resort Independence

Blue Springs, MO

SUPPLEMENTAL OPERATING and FINANCIAL DATA

THIRD QUARTER 2020

FORWARD-LOOKING STATEMENTS

This supplemental information contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some of the forward-looking statements by their use of forward-looking words, such as ''believes,'' ''expects,'' ''may,'' ''will,'' ''should,'' ''seeks,'' ''approximately,'' ''intends,'' ''plans,'' ''estimates'' or ''anticipates,'' or the negative of those words or similar words. Forward- looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect our future plans of operation, business strategy, results of operations and financial position. A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, the status of the economy, the status of capital markets (including prevailing interest rates), and our access to capital; the income and returns available from investments in health care related real estate, the ability of our borrowers and lessees to meet their obligations to us, our reliance on a few major operators; competition faced by our borrowers and lessees within the health care industry, regulation of the health care industry by federal, state and local governments, changes in Medicare and Medicaid reimbursement amounts (including due to federal and state budget constraints), compliance with and changes to regulations and payment policies within the health care industry, debt that we may incur and changes in financing terms, our ability to continue to qualify as a real estate investment trust, the relative illiquidity of our real estate investments, potential limitations on our remedies when mortgage loans default, and risks and liabilities in connection with properties owned through limited liability companies and partnerships. For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under ''Risk Factors'' and other information contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and in our publicly available filings with the Securities and Exchange Commission. We do not undertake any responsibility to update or revise any of these factors or to announce publicly any revisions to forward-looking statements, whether as a result of new information, future events or otherwise.

NON-GAAP INFORMATION

This supplemental information contains certain non-GAAP information including EBITDAre, adjusted EBITDAre, FFO, FFO excluding non-recurring items, FAD, FAD excluding non-recurring items, adjusted interest coverage ratio, and adjusted fixed charges coverage ratio. A reconciliation of this non-GAAP information is provided on pages 21, 24 and 25 of this supplemental information, and additional information is available under the "Non-GAAP Financial Measures" subsection under the "Selected Financial Data" section of our website at www.LTCreit.com.

SUPPLEMENTAL INFORMATION 3Q 2020

TABLE OF CONTENTS

COMPANY

Company Information & Leadership

3

INVESTMENTS

Execution of Growth Strategy

4

Real Estate Activities

Acquisitions and Loan Originations

5

Mezzanine Loans and Joint Ventures

6

Lease-Up and Renovations

7

Lease-Up History

8

Capital Recycling

9

PORTFOLIO

Overview

10

Metrics

11

Diversification

Geography, MSA, Age of Portfolio

12-13

Operators

14

Update

15

Maturity

16

FINANCIAL

Enterprise Value

17

Debt Metrics

18

Debt Maturity

19

Financial Data Summary

20-21

Income Statement Data

22

Consolidated Balance Sheets

23

Funds from Operations

24-25

GLOSSARY

Glossary

26-27

2

Founded in 1992, LTC Properties, Inc. (NYSE: LTC) is a self-administered real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including preferred equity and mezzanine lending. LTC's portfolio encompasses Skilled Nursing Facilities (SNF), Assisted Living Communities (ALF), Independent Living Communities (ILF), Memory Care Communities (MC) and combinations thereof. Our main objective is to build and grow a diversified portfolio that creates and sustains shareholder value while providing our stockholders current distribution income. To meet this objective, we seek properties operated by regional operators, ideally offering upside and portfolio diversification (geographic, operator, property type and investment vehicle). For more information, visit www.LTCreit.com.

LEADERSHIP

WENDY SIMPSON

PAM KESSLER

CLINT MALIN

CECE CHIKHALE

DOUG KOREY

Chairman and

Co-President,

Co-President and

Executive Vice President,

Executive Vice President,

Chief Executive Officer

CFO and Secretary

Chief Investment Officer

Chief Accounting Officer,

Managing Director of

and Treasurer

Business Development

GIBSON SATTERWHITE

PETER LYEW

MANDI HOGAN

MIKE BOWDEN

RACHEL SON

Senior Vice President,

Vice President,

Vice President,

Vice President,

Vice President

Asset Management

Director of Taxes

Marketing &

Investments

and Controller

Investor Relations

SUPPLEMENTAL INFORMATION 3Q 2020

BOARD OF DIRECTORS

WENDY SIMPSON

Chairman

BOYD HENDRICKSON

Lead Independent Director

JAMES PIECZYNSKI

Nominating & Corporate Governance

Committee Chairman

DEVRA SHAPIRO

Audit Committee Chairman

TIMOTHY TRICHE, MD

Compensation Committee Chairman

ANALYSTS

CONNOR SIVERSKY

Berenberg Capital Markets

JOHN KIM

BMO Capital Markets Corp.

DANIEL BERNSTEIN

CapitalOne

AARON HECHT

JMP Securities, LLC

JORDAN SADLER

KeyBanc Capital Markets, Inc.

OMOTAYO OKUSANYA

Mizuho Securities USA LLC

MIKE CARROLL

RBC Capital Markets Corporation

RICHARD ANDERSON

SMBC Nikko Securities

STEVE MANAKER

Stifel, Nicolaus & Company, Inc.

TODD STENDER

Wells Fargo Securities, LLC

Any opinions, estimates, or forecasts regarding LTC's performance made by the analysts listed above do not represent the opinions, estimates, and forecasts of LTC or its management.

LTC PROPERTIES, INC.

TRANSFER AGENT

2829 Townsgate Road

American Stock Transfer

Suite 350

and Trust Company

Westlake Village, CA 91361

6201 15th Avenue

805-981-8655

Brooklyn, NY 11219

www.LTCreit.com

866-708-5586

3

EXECUTION OF GROWTH STRATEGY

$500

$

1.5 Billion

$414

$400

Total Investments

Underwritten

$300

$245

Total LTC Investment

(excludes non-controlling partners' contributions)

$200

$185

Development/Expansions/ Renovations

$142

$109

$103

$94

$100

$80

$81

$25

$112

$35

$68

$44

$12

$39

$22

$28

$17

$19

$0

$9

2010 2011 2012 2013

2014 2015 2016

2017

2018 2019

YTD 2020

SUPPLEMENTAL INFORMATION 3Q 2020

INVESTMENTS

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

LTC Properties Inc. published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 20:24:11 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 157 M - -
Net income 2020 95,8 M - -
Net Debt 2020 609 M - -
P/E ratio 2020 16,7x
Yield 2020 5,65%
Capitalization 1 583 M 1 583 M -
EV / Sales 2020 14,0x
EV / Sales 2021 12,2x
Nbr of Employees 22
Free-Float 98,2%
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Technical analysis trends LTC PROPERTIES, INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 36,50 $
Last Close Price 40,35 $
Spread / Highest target 9,05%
Spread / Average Target -9,54%
Spread / Lowest Target -18,2%
EPS Revisions
Managers and Directors
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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