Key Developments: LTC Properties Inc (LTC)
44.90USD
24 May 2013
$-0.78 (-1.71%)
$45.68
$45.42
$45.42
$44.68
217,160
213,104
$48.69
$30.41
Latest Key Developments (Source: Significant Developments)
LTC Properties Inc Announces Closing Of Public Offering Of 4,025,000 Shares Of Common Stock
LTC Properties Inc announced that it has closed its previously-announced public offering of 3,500,000 shares of its common stock at a price of $44.50 per share. In addition, the Company has sold 525,000 shares of its common stock at a price of $44.50 per share pursuant to the underwriters` option to purchase additional shares, resulting in a total public offering of 4,025,000 shares for net proceeds of approximately $171.3 million. Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and RBC Capital Markets are acting as joint book-running managers for the Offering. Sandler O`Neill + Partners, L.P., CSCA, J.J.B. Hilliard, W.L. Lyons, LLC, JMP Securities LLC and Sidoti & Company, LLC are acting as co-managers for the Offering. Full Article
LTC Properties Inc Announces Pricing Of Public Offering Of 3,500,000 Shares Of Common Stock
LTC Properties Inc announced that it has priced underwritten public offering of 3,500,000 shares of common stock (the Offering) at $44.50 per share. The Company has granted the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock to cover over-allotments, if any. The Company estimates that the net proceeds from the Offering, after underwriting discounts and commissions and estimated offering expenses, will be approximately $148.9 million (or approximately $171.3 million if the underwriters' over-allotment option is exercised in full). Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and RBC Capital Markets are acting as joint book-running managers for the Offering. Sandler O`Neill + Partners, L.P., CSCA, J.J.B. Hilliard, W.L. Lyons, LLC, JMP Securities LLC and Sidoti & Company, LLC are acting as co-managers for the Offering. The Company intends to use the net proceeds from the Offering to pay down amounts outstanding under its unsecured line of credit, to fund acquisitions and the current development pipeline and for general corporate purposes. The Offering is expected to close on May 8, 2013. Full Article
LTC Properties Inc Announces Public Offering Of Common Stock
LTC Properties Inc announced that it plans to make a public offering of 3,000,000 shares of its common stock (the Offering). The Company expects to grant the underwriters an option to purchase up to 450,000 additional shares of common stock within 30 days to cover over-allotments, if any. Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and RBC Capital Markets will act as joint book-running managers for the Offering. The Company intends to use the net proceeds from the Offering to pay down amounts outstanding under its unsecured line of credit, to fund acquisitions and the current development pipeline and for general corporate purposes. Full Article
LTC Properties Inc Declares Monthly Common Stock Cash Dividend
LTC Properties Inc announced that it had declared a monthly cash dividend on common stock for the second quarter of 2013. The Company declared a monthly cash dividend of $0.155 per common share per month for the months of April, May and June 2013, payable on April 30, May 31 and June 28, 2013, respectively, to stockholders of record on April 22, May 23 and June 20, 2013, respectively. Full Article
LTC Properties Inc Issues FY 2013 FFO Guidance Above Analysts' Estimates-Conference Call
LTC Properties Inc announced that for fiscal 2013, it expects normalized diluted FFO of approximately $2.46 to $2.48. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $2.44 for fiscal 2013. Full Article
LTC Properties Inc Announces Acquisition Of Land And Development Commitments
LTC Properties Inc announced that it had purchased two parcels of land for a total of $3.1 million and entered into development commitments totaling $26.2 million. The Company announced the details of the transactions as follows: In December 2012, the Company purchased an 11.2 acre vacant parcel of land in Northern Kentucky (Cincinnati MSA) for $2.1 million. Also in December 2012, the Company purchased a 6 acre parcel of land in Frisco, Texas (Dallas MSA) for $1.0 million and entered into a lease and development commitment with affiliates of Mustang Creek Estates in an amount not to exceed $4.8 million for the construction of an 81-unit assisted living and memory care facility. Full Article
LTC Properties Inc Announces Monthly Common Stock Cash Dividend
LTC Properties Inc announced that it had declared a monthly cash dividend on common stock for the first quarter of 2013. The Company declared a monthly cash dividend of $0.155 per common share per month for the months of January, February and March 2013, payable on January 31, February 28 and March 28, 2013, respectively, to stockholders of record on January 23, February 20 and March 20, 2013, respectively. Full Article
LTC Properties Inc Declares Its Monthly Common Stock Cash Dividend For Fourth Quarter of 2012
LTC Properties Inc announced that had declared a monthly cash dividend on its common stock for the fourth quarter of 2012. The Company declared a monthly cash dividend of $0.155 per common share per month for the months of October, November and December 2012, payable on October 31, November 30 and December 31, 2012, respectively, to stockholders of record on October 23, November 21 and December 21, 2012, respectively. Full Article
LTC Properties Inc Declares Monthly Common Stock Cash Dividend
LTC Properties Inc announced that it increased its monthly cash dividend on its common stock to $0.155 per share for the months of August and September 2012, approximately a 6.9% increase from the previous $0.145 per share and a 10.7% increase over the same months of the prior year. The Company declared a monthly cash dividend of $0.155 per share per month for the months of August and September 2012, payable on August 31 and September 28, 2012, respectively, to stockholders of record on August 23 and September 20, 2012, respectively. Full Article
LTC Properties Inc Announces Acquisition Of Two Skilled Nursing Facilities
LTC Properties Inc announced that it acquired two skilled nursing facilities with a total of 288 licensed beds for $54.0 million. One property located in Cincinnati, Ohio was built in 2009 and the other property, located in Dayton, Ohio, was built in 2010. The acquisition was funded from the Company’s unsecured revolving line of credit and cash on hand. Simultaneous with the purchase, the Company entered into to a master lease with affiliates of Carespring Health Care Management, LLC (Carespring) at an initial cash yield of 8.5% and an estimated GAAP yield of 10.1%. The initial term of the lease is 15 years with two 5-year renewal options and annual rent escalations of the lesser of 2.25% for the first seven years and 2.50% for the remainder of the term or a calculation based on the consumer price index. Full Article
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