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Stock impact report

LTC Advances Portfolio Transformation With $79 Million in Completed Sales

LTC Properties, Inc. (LTC) 
Last ltc properties, inc. earnings: 2/20 04:30 pm Check Earnings Report
US:NYSE Investor Relations: ltcreit.com
Company Research Source: Business Wire
-- Portfolio Diversification Continues as Company Focuses on External SHOP Growth -- WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties, Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust that invests in seniors housing and health care properties, today announced the sale of five skilled nursing centers, completing the planned disposition of a seven-property portfolio.Highlights:Properties: Five skilled nursing properties, including four in Virginia ($51 million) and one in California ($29 million).Sales Proceeds: $79 million with an expected gain on sale of approximately $52 million.Purpose: Furthers LTC’s ongoing efforts to actively manage and strengthen its portfolio through strategic capital recycling. Proceeds from the sales will be redeployed for the acquisition of newer, stabilized Seniors Housing Operating Portfolio (“SHOP”) assets consistent with the Company’s strategic focus on external growth and portfolio diversification.Portfolio Compositi Show less Read more
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