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
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.
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 Information & Leadership
Execution of Growth Strategy
Real Estate Activities
Acquisitions and Loan Originations
Mezzanine Loans and Joint Ventures
Lease-Up and Renovations
Geography, MSA, Age of Portfolio
Financial Data Summary
Income Statement Data
Consolidated Balance Sheets
Funds from Operations
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.
Executive Vice President,
Executive Vice President,
Chief Executive Officer
CFO and Secretary
Chief Investment Officer
Chief Accounting Officer,
Managing Director of
Senior Vice President,
Director of Taxes
SUPPLEMENTAL INFORMATION 3Q 2020
BOARD OF DIRECTORS
Lead Independent Director
Nominating & Corporate Governance
Audit Committee Chairman
TIMOTHY TRICHE, MD
Compensation Committee Chairman
Berenberg Capital Markets
BMO Capital Markets Corp.
JMP Securities, LLC
KeyBanc Capital Markets, Inc.
Mizuho Securities USA LLC
RBC Capital Markets Corporation
SMBC Nikko Securities
Stifel, Nicolaus & Company, Inc.
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. 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