LTC Properties, Inc. (LTC) Q1 2024 Earnings Call Transcript

LTC Properties, Inc. (NYSE:LTC) Q1 2024 Earnings Conference Call April 29, 2024 11:00 AM ET

Company Participants

Wendy Simpson - Chairman and CEO
Pam Kessler - Co-President and CFO
Clint Malin - Co-President and CIO

Conference Call Participants

Austin Wurschmidt - KeyBanc
Juan Sanabria - BMO Capital Markets
Rich Anderson - Wedbush
Michael Carroll - RBC Capital Markets

Operator

Good day. And welcome to the LTC Properties Incorporated First Quarter 2024 Earnings Conference Call. At this time, all participants are on a listen-only mode, and a question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

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 updated, sorry, are detailed in LTC’s Property 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 call over to Wendy Simpson. Ma’am, the floor is yours.

Wendy Simpson

Thank you, Operator. And welcome everyone to LTC’s 2024 first 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.

In 2023 we completed more than $260 million in investments, all while our team devoted significant amount of time to optimizing our portfolio. Now after successfully selling $77 million of assets last year and retenanting others we are concentrating our efforts on producing strategic long-term and sustainable growth which is our key focus for 2024.