2024-02-16 13:23:05 ET
LTC Properties, Inc. (LTC)
Q4 2023 Earnings Conference Call
February 16, 2024 11:00 am ET
Corporate Participants
Wendy Simpson - Chairman and Chief Executive Officer
Pam Kessler - Co-President and Chief Financial Officer
Clint Malin - Co-President and Chief Investment Officer
Conference Call Participants
Austin Wurschmidt - KeyBanc Capital Markets
Rich Anderson - Wedbush
Michael Carroll - RBC
Connor Siversky - Wells Fargo
Presentation
Operator
Greetings. Welcome to the LTC Properties, Inc. Fourth Quarter 2023 Earnings Call. [Operator Instructions].
Before management begins its presentation, please note that today's comments, including the question-and-answer session, may include forward-looking statements subject to risks and uncertainties that may cause actual results and events to differ materially.
These risks and uncertainties are detailed in LTC Properties' filings with the Securities and Exchange Commission from time-to-time, including the company's most recent 10-K dated December 31, 2023. LTC undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this presentation. Please note, this event is being recorded.
I would now like to turn the conference over to Wendy Simpson.
Wendy Simpson
Thank you, operator, and welcome everybody to LTC's 2023 fourth quarter conference call. I am joined today by Pam Kessler, Co-President and Chief Financial Officer and Clint Malin, Co-President and Chief Investment Officer.
2023 was a year of solid execution. So I want to begin by recognizing our very talented LTC team. During the year, we completed $262 million in investments and generated $77 million in sales proceeds, the sales resulted in net gains totaling $37 million. Additionally, we received $11.8 million in mezzanine loan payoffs, generating $1.6 million of exit IRR income at a weighted average rate of 12%....
Read the full article on Seeking Alpha
For further details see:
LTC Properties, Inc. (LTC) Q4 2023 Earnings Call Transcript