LTC Properties, Inc. (NYSE:LTC) Q2 2022 Results Conference Call July 29, 2022 11:00 AM ET

Company Participants

Wendy Simpson - Chairman and Chief Executive Officer

Pamela Kessler - Co-President and Chief Financial Officer

Clint Malin - Co-President and Chief Investment Officer

Conference Call Participants

Michael Carroll - RBC Capital Markets

Connor Siversky - Berenberg

Steven Valiquette - Barclays

Arthur Porto - KeyBanc Capital Markets

Tayo Okusanya - Credit Suisse

Daniel Bernstein - Capital One

Juan Sanabria - BMO Capital

Operator

Good morning, everyone. And welcome to today's LTC Properties, Inc 2022 Analyst and Investor Call. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]

Before management begins its presentation, please know that today's comment, 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 detailed in LTCs property filings with the Securities and Exchange Commission from time-to-time, including the Company's most recent 10-K dated December 31, 2021. LTC undertake 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. And I would now like turn the conference over to Wendy Simpson.

Wendy Simpson

Thank you, Operator. Welcome everyone to LTC’s 2022 second quarter conference call. Joining me today are Pam Kessler, Co-President and Chief Financial Officer; and Clint Malin, Co-President and Chief Investment Officer.

I will start today by continuing to share my enthusiasm for LTC and its future. Too often, over the past several years, we have spent time discussing COVID, economic headwinds and the challenges facing our operators.

And while the industry is not completely out of the woods and LTC still has a few specific issues to resolve in the short-term. I believe our company is on shore footing and is operating from a position of strength.

Since the beginning of COVID and to-date, we have successfully transitioned several portfolios to strong regional operators with whom we can grow. Most recently, we took important steps to rectify ongoing rent, abatements, and deferrals by transitioning our marketing properties for sale that have made up the majority of our ongoing assistance. You will hear more about that later in the call.

We have continued to make successful investments that generate positive returns for our investors, especially through creative and flexible structured finance vehicles have taken a number of steps to enhance the quality of our portfolio, including reducing its average age and have divested properties that no longer fit with our longer term goals.