LTC Properties reports Q4 FFO 57c, consensus 69c

Reports Q4 revenue $50.195M, consensus $49.69M. “2023 was a year of execution for LTC, and due to the hard work of our team, we resolved substantially all of the challenges we faced during the year,” said Wendy Simpson, LTC’s Chairman and Chief Executive Officer. “Importantly, we more than fully replaced the rent generated by our original Brookdale portfolio, reached a permanent solution for one of our transitioned portfolios, received all of the contractual interest owed under the Prestige mortgage loan ahead of schedule, and reduced our leverage earlier than expected, successfully positioning LTC for growth in 2024 and beyond.”