LTC Properties reports Q1 core FFO 69c, consensus 72c

Reports Q1 revenue $95.41M vs $49.03M last year. “What began last year through the combination of acquisitions and conversions of nearly $570 million of seniors housing communities, ramps up this year with an additional $600 million of SHOP acquisitions projected at the mid-point of guidance,” said Pam Kessler, LTC‘s Co-CEO. “These SHOP acquisitions, combined with approximately $265 million of skilled nursing divestitures, will result in 40% of LTC’s annualized NOI coming from SHOP by year-end.”