LTC PROPERTIES INC

LTC Properties, Inc. has amended its Credit Agreement, increasing the aggregate commitment from $800 million to $1.1 billion. This expansion includes an increase in revolving credit commitments from $600 million to $900 million, and the total maximum commitments permitted under the agreement have risen from $1.2 billion to $2.0 billion. Additionally, the company entered into 3-year interest rate swap agreements to fix the interest rate on $150 million of the credit facility at 4.97% per annum.

LTC Properties reported a net income of $23.6 million for the first quarter of 2026, an increase from $20.7 million in the prior year. The company continued its strategic expansion into the Seniors Housing Operating Portfolio (SHOP) segment, acquiring three communities in Georgia for $108.1 million and converting two triple-net lease communities in Texas to SHOP. This expansion significantly boosted total revenues to $95.4 million, primarily driven by resident fees and services from the growing SHOP segment.

LTC Properties, Inc. announced strong operating results for the first quarter ended March 31, 2026, with significant increases in total revenues, net income, and FFO per share. The company is actively executing a strategic shift towards its Seniors Housing Operating Portfolio (SHOP), with substantial acquisitions and conversions planned, while reducing its exposure to skilled nursing facilities. This transformation is expected to drive future growth and enhance shareholder value.