LTC (LTC) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, May 7, 2026 astatine 11:59 AM CDT 25 min read

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Date

Thursday, May 7, 2026 astatine 11 a.m. ET

Call participants

• Chief Financial Officer — Pamela J. Shelley-Kessler

• Co-President and Chief Investment Officer — Clint B. Malin

• Co-President and Chief Operating Officer — J. Gibson Satterwhite

• Executive Vice President, Investments — David Boitano

• Chief Accounting Officer — Caroline L. Chikhale

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Full Conference Call Transcript

Pamela J. Shelley-Kessler: Good morning, and convey you for joining us. LTC Properties, Inc. is successfully executing our SHOP strategy. Our capabilities, reputation, and civilization are resonating with sellers and operators, and these relationships are driving concern opportunities and grounds outer growth.

Clint B. Malin: Allowing america to standard incredibly quickly. We person beardown condemnation that our strategy is the close 1 to make a higher maturation illustration institution with amended risk-adjusted returns to thrust shareholder value. With SHOP presently projected to correspond 45% of our full investments and 40% of annualized NOI by year-end, the displacement successful our portfolio premix is dramatically enhancing LTC Properties, Inc.'s semipermanent quality to turn FFO and FAD per stock supra our humanities rate. We are connected way with our $600 cardinal SHOP acquisition midpoint guidance, and with the expected closing of 2nd 4th transactions, we volition beryllium much than halfway to that target.

Additionally, to further summation our SHOP mix, we would see transactions that capitalize connected charismatic skilled nursing pricing by recycling superior into higher-growth SHOP assets. Our relation partnerships, our relationship-centric culture, and our important concern successful the SHOP level are driving our translation and positioning LTC Properties, Inc. arsenic a competitory force. I volition present crook it implicit to Gibson for much penetration connected the portfolio.

J. Gibson Satterwhite: Thank you, Clint. Our absorption is connected optimizing risk-adjusted returns for our shareholders by investing successful our SHOP portfolio and opportunistically recycling capital, positioning LTC Properties, Inc. for higher intrinsic growth. As Clint noted, SHOP is expected to relationship for 40% of our annualized NOI by year-end, with the imaginable to grow adjacent further. This people incorporates reinvestment of astir $265 cardinal successful planned dispositions and indebtedness repayments from skilled nursing assets this year. Of that amount, $77 cardinal has closed, and $190 cardinal is expected to adjacent successful the 3rd quarter. Our guidance projects a July 1 payoff of the Prestige loan, successful enactment with our announcement of intent earlier this year.