LTC Properties

Financial Services Real Estate & Construction investment

LTC Properties, Inc. operates as a health care real estate investment trust (REIT) in the United States. It invests in senior housing and long term healthcare properties, including skilled nursing properties, assisted living properties, independent living properties, and combinations through mortgage loans, property lease transactions, and other investments. Its portfolio consists of 89 skilled nursing properties, 102 assisted living properties, 14 other senior housing properties, 2 schools, and a parcel of land under development. As a REIT, the company would not be subject to federal income tax, if it distributes at least 90% of net taxable income to its stockholders.

Revenue(Q1, 2017)

$42.6 M

Market capitalization(2017-08-15)

$1.9 B

Company Growth (employees)

Type

Public

Westlake Village, US

Founded

1992

Size (employees)

24 (est)

Website

ltcreit.com

LTC Properties was founded in 1992 and is headquartered in Westlake Village, US

LTC Properties Office Locations

LTC Properties has an office in Westlake Village

Westlake Village, US (HQ)

350 2829 Townsgate Rd

LTC Properties Data and Metrics

LTC Properties Financial Metrics

LTC Properties's revenue was reported to be $42.6 m in Q1, 2017

Summary

USD

LTC Properties's current market capitalization is $1.9 b.

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	105 m	119 m	136.2 m	161.6 m
Revenue growth, %		13%	14%	19%
General and administrative expense				17.4 m
Operating expense total			65.5 m	81.2 m
EBIT	55.4 m	68.4 m	70.7 m	80.4 m
EBIT margin, %	53%	58%	52%	50%
Interest expense			17.5 m	26.4 m
Net Income	57.8 m	73.4 m	73.1 m	85.1 m

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Revenue				32.4 m	34.9 m	38.6 m	40 m	40.8 m	42.6 m
General and administrative expense				4 m	3.7 m	4.5 m	4.1 m	4.5 m	4.7 m
Operating expense total				4 m	3.7 m	4.5 m	4.1 m	4.5 m	4.7 m
EBIT				17.2 m	19 m	19.6 m	20.1 m	20.3 m	21.1 m
EBIT margin, %				53%	54%	51%	50%	50%	49%
Interest expense				3.9 m	4.3 m	6 m	6.8 m	6.8 m	7.5 m
Net Income	35.3 m	52.4 m	17.6 m	35.5 m	55.1 m	19.9 m	42 m	64.4 m	21.5 m

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Cash	6.8 m	25.2 m	12.9 m	8 m
Accounts Receivable	702 k	597 k	4.5 m	9.7 m
Total Assets	931.4 m	965.8 m	1.3 b	1.4 b
Accounts Payable				84.1 m
Total Liabilities				654.8 m
Additional Paid-in Capital	688.7 m	717.4 m	758.7 m	839 m
Total Equity	632.4 m	660.1 m	659.2 m	740 m
Financial Leverage	1.5 x	1.5 x	1.9 x	1.9 x

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Cash	8.1 m	7.6 m	3.4 m	8.1 m	11.7 m	24.3 m	17.8 m	3.6 m	8.7 m
Accounts Receivable	655 k	661 k	1.2 m	2.1 m	3.4 m	5.8 m	7.1 m	8.4 m	10.9 m
Total Assets	945.2 m	952.6 m	995.4 m	1 b	1.2 b	1.3 b	1.4 b	1.4 b	1.4 b
Additional Paid-in Capital	690.4 m	691.2 m	718.1 m	719.2 m	720.2 m	772.7 m	829.2 m	837.9 m	853.1 m
Total Equity	632.3 m	631.7 m	659.4 m	659.5 m	661.2 m	672.7 m	730.7 m	740.6 m	753.1 m
Financial Leverage	1.5 x	1.5 x	1.5 x	1.6 x	1.8 x	2 x	1.9 x	1.9 x	1.8 x

Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	57.8 m	73.4 m	73.1 m	85.1 m
Depreciation and Amortization		25.5 m	29.4 m	35.9 m
Accounts Payable			418 k
Cash From Operating Activities	86.2 m	95.8 m	102.3 m	105.7 m
Cash From Investing Activities	(164 m)	(29 m)	(326.8 m)	(139.9 m)
Cash From Financing Activities	77.3 m	(48.3 m)	212.2 m	29.2 m
Interest Paid	11.4 m	13.7 m	16.1 m	24.5 m

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Net Income	35.3 m	52.4 m	17.6 m	35.5 m	55.1 m	19.9 m	42 m	64.4 m	21.5 m
Depreciation and Amortization	12.6 m	18.9 m	6.8 m	13.8 m	21.1 m	8.6 m	17.5 m	26.6 m	9.4 m
Accounts Payable		(1 m)	(1.1 m)	18 k	(1 m)	(1.1 m)	72 k	(358 k)	(416 k)
Cash From Operating Activities	45.2 m	69.3 m	17.9 m	44 m	70.5 m	19.6 m	50.8 m	79.6 m	21.1 m
Cash From Investing Activities	(23.2 m)	(36.6 m)	(52.8 m)	(99.2 m)	(263.1 m)	(37.6 m)	(108.6 m)	(120.5 m)	891 k
Cash From Financing Activities	(20.7 m)	(31.9 m)	13.1 m	38 m	179 m	29.3 m	62.6 m	31.5 m	(21.2 m)
Interest Paid	6.6 m	11.1 m	4.8 m	7.1 m	12.2 m	6.8 m	12 m	19 m	7.6 m