Slide 1: Supplemental Operating and Financial Data Third Quarter 2020
Ignite Medical Resort Independence Blue Springs, MO SUPPLEMENTAL OPERATING and FINANCIAL DATA THIRD QUARTER 2020
Slide 2: Table of Contents and Forward-Looking Statements
TABLE OF CONTENTS FORWARD-LOOKING STATEMENTS COMPANY This supplemental information contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to Company Informat
Slide 3: Company Information & Leadership
Founded in 1992, LTC Properties, Inc. (NYSE: LTC) is a self-administered real estate investment trust (REIT) investing in seniors housing and health care properties BOARD OF DIRECTORS primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including preferr
Slide 4: Execution of Growth Strategy
EXECUTION OF GROWTH STRATEGY $500 $ $400 $414 1.5 Billion Total Investments Underwritten $300 Total LTC Investment $245 (excludes non-controlling partners’ contributions) Development/Expansions/ Renovations $200 $185 $142 $109 $94 $103 $100 $80 $81 $112 $35 $25 $68 $44 $39 $28 $9 $12 $22 $17 $19 $0
Slide 5: Real Estate Activities – Acquisitions and Loan Originations
REAL ESTATE ACTIVITIES – ACQUISITIONS AND LOAN ORIGINATIONS (DOLLAR AMOUNTS IN THOUSANDS) ACQUISITIONS CO NTRACT UAL # OF P RO P E RTY # BE D S / D AT E O F INIT IAL P URC H ASE AD D ITIO NAL (1 ) DAT E P RO P E RTIE S TYP E UNITS LO CATIO N O P E RATO R CO N S TRUCTIO N CASH YIE L D P RICE CO M M I
Slide 6: Real Estate Activities – Mezzanine Loans and Joint Ventures
REAL ESTATE ACTIVITIES –MEZZANINE LOANS AND JOINT VENTURES (DOLLAR AMOUNTS IN THOUSANDS) MEZZANINE LOANS CO M M IT M E NT P RO P E RT Y INVE ST M E NT M ATURITY # BE D S/ INVE S TM E N T YE AR L O CATIO N P RO P E RT IE S O P E RAT O R TYP E TYP E D AT E RE TURN UN IT S BAL AN CE 2018 Various 17 Gen
Slide 7: Real Estate Activities – Lease-Up and Renovations
REAL ESTATE ACTIVITIES – LEASE-UP AND RENOVATIONS (DOLLAR AMOUNTS IN THOUSANDS) LEASE-UP D E VE LO P M E NT CO NT RACT UAL D AT E D ATE O CCUP ANCY AT CO M M ITM E NT P RO JE CT # OF P RO P E RTY # BE D S/ INITIAL T O T AL (1 ) (2 ) ACQ UIRE D O P E NE D 9/30/2020 YE AR T YP E L O CATIO N O P E RATO
Slide 8: Real Estate Activities – Lease-Up History
REAL ESTATE ACTIVITIES – LEASE-UP HISTORY # OF MO NTH S P RO P E RTY P RO JE CT # BE D S / D AT E D AT E D AT E TO (1 ) P RO P E RT Y LO CAT IO N O PE RAT O R TYPE T YP E UNIT S ACQ UIRE D O P E NE D S TABIL IZE D ST ABILIZATIO N Highline Place Littleton, CO Anthem MC Development 60 units May-2012 J
Slide 9: Real Estate Activities – Capital Recycling
REAL ESTATE ACTIVITIES – CAPITAL RECYCLING On average, LTC has sold Total Gain Total Sales Price approximately $ $ $ 20.7Million 434.2 Million 183.6 (1) Million ANNUALLY $115 $95 $75 MILLION $55 $35 $15 ($5) 2000 2003 2006 2009 2012 2015 2018 YTD 2020 Sales Gain/(Loss) (1) Reflects total sales price
Slide 10: Portfolio Overview
PORTFOLIO OVERVIEW (DOLLAR AMOUNTS IN THOUSANDS) TW E LVE M O NT H S E ND E D SE P T E M BE R 30, 2020 # OF G RO SS % OF RE N TAL INTE RE ST % OF (1 ) (2 ) P RO P E RTY TYP E P RO P E RTIE S INVE STM E NT INVE STM E NT INCO M E INCO M E RE VE NUE S Skilled Nursing 73 $ 817,364 47.8% $ 62,486 $ 31,17
Slide 11: Portfolio Metrics
PORTFOLIO METRICS (TRAILING TWELVE MONTHS THROUGH JUNE 30, 2020 AND MARCH 31, 2020) SAME PROPERTY PORTFOLIO COVERAGE STATISTICS (1)(2) ASSISTED LIVING SKILLED NURSING 2.00 1.76 1.85 100.0% 2.00 100.0% 1.38 95.0% 1.31 1.38 1.50 Occupancy % 1.50 1.27 90.0% Occupancy % 1.17 1.06 90.0% 1.00 1.00 80.0% 8
Slide 12: Portfolio Diversification – Geography
PORTFOLIO DIVERSIFICATION – GEOGRAPHY (AS OF SEPTEMBER 30, 2020) States in which we have some of the highest concentration of properties are states with the highest projected increases in the 80+ population cohort over the next decade. WA 1 ND ME MT 1 OR ID WI MN 2 2 SD 1 22 NY WY 10 MI 1 NE PA 2 4
Slide 13: Portfolio Diversification – Geography by State
PORTFOLIO DIVERSIFICATION – GEOGRAPHY (AS OF SEPTEMBER 30, 2020, DOLLAR AMOUNTS IN THOUSANDS) # OF G RO S S (1 ) (2 ) S TATE P RO P S INVE S T M E NT % S NF % AL F % OTH % Michigan 24 $ 282,103 16.5% $260,267 31.8% $ 20,893 2.4% $ 943 8.3% Texas 34 273,075 16.0% 202,604 24.8% 70,471 8.0% — — Wiscons
Slide 14: Portfolio Diversification – Operators
PORTFOLIO DIVERSIFICATION – 29 OPERATORS (AS OF SEPTEMBER 30, 2020, DOLLAR AMOUNTS IN THOUSANDS) # OF ANNUAL IZE D INCO M E G RO SS (1 ) O P E RAT O RS P RO PS GAAP % CASH % I NVE STM E NT % Prestige Healthcare 24 $ 32,852 20.2% $ 26,699 17.1% $ 273,399 16.0% Senior Care Centers 11 14,968 9.2% 14,96
Slide 15: COVID-19 Update
PORTFOLIO UPDATE (DOLLAR AMOUNTS IN THOUSANDS) OPERATOR UPDATE 3Q rent collected COVID-19 UPDATE 94% * $690 abated rent * $326 deferred rent * $1,251 delinquent rent related to Senior Lifestyle 3Q rent collected excluding Senior Lifestyle 97% See page 14 for the Senior Lifestyle disclosure. Total de
Slide 16: Portfolio Maturity
PORTFOLIO MATURITY (AS OF SEPTEMBER 30, 2020, DOLLAR AMOUNTS IN THOUSANDS) Near Term Lease Maturities: RENTAL % OF INTEREST % OF ANNUALIZED % OF YEAR INCOME(1) TOTAL INCOME(1) TOTAL GAAP INCOME(1) TOTAL (2) • Three in 2021 with an annualized GAAP rent 2021 $ 16,183 12.4% $ — — $ 16,183 10.0% totalin
Slide 17: Enterprise Value
ENTERPRISE VALUE (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS AND NUMBER OF SHARES) S E P TE M BE R 30, 2020 CAP IT ALIZATIO N D E BT Bank borrowings - weighted average rate 1.3% $ 89,900 (1) Senior unsecured notes, net of debt issue costs - weighted average rate 4.4% 574,444 Total debt - weighte
Slide 18: Debt Metrics
DEBT METRICS (DOLLAR AMOUNTS IN THOUSANDS) LINE OF CREDIT LIQUIDITY $600,000 $510,100 $506,100 $488,000 $503,500 $500,000 $400,000 $300,000 $200,000 $100,000 $89,900 $93,900 $112,000 $96,500 $- 3Q20 2019 2018 2017 Balance Available LEVERAGE RATIOS COVERAGE RATIOS 50.0% 8.0 40.0% 36.5% 37.2% 35.2% 37
Slide 19: Debt Maturity
DEBT MATURITY (AS OF SEPTEMBER 30, 2020, DOLLAR AMOUNTS IN THOUSANDS) UN SE CURE D SE NIO R DEBT STRUCTURE LIN E O F UNS E CURE D % OF YE AR CRE D IT NO TE S (1 ) TO TAL T O TAL Unsecured Line of Credit 13.5% 2020 $ — $ 15,000 $ 15,000 2.3% 2021 — 47,160 47,160 7.1% 2022 89,900 48,160 138,060 20.8%
Slide 20: Financial Data Summary
FINANCIAL DATA SUMMARY (DOLLAR AMOUNTS IN THOUSANDS) 9/30/20 12/31/19 12/31/18 12/31/17 Gross real estate assets $ 1,709,031 $ 1,741,230 $ 1,666,842 $ 1,618,284 (1) Includes outstanding gross bank borrowings and senior unsecured Net real estate investments $ 1,366,602 $ 1,390,915 $ 1,349,520 $ 1,309
Slide 21: Reconciliation of Annualized Adjusted EBITDAre and Fixed Charges
FINANCIAL DATA SUMMARY (DOLLAR AMOUNTS IN THOUSANDS) RECONCILIATION OF ANNUALIZED ADJUSTED EBITDAre AND FIXED CHARGES T HRE E M O NT HS E ND E D FO R TH E YE AR E N D E D 9/30/20 12/31/2019 12/31/2018 12/31/2017 Net income $ 12,338 $ 80,872 $ 155,076 $ 87,340 Less: Gain on sale of real estate, net (
Slide 22: Income Statement Data
INCOME STATEMENT DATA (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2020 2019 2020 2019 (unaudited) (unaudited) Revenues Rental income $ 30,010 $ 38,665 $ 88,320 $ 114,566 Interest income from mortgage loans 7,890 7,646 23,487 22,30
Slide 23: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) S E P T E M BE R 30, 2020 DE CE M BE R 31, 2019 ASS E T S (unaudited) (audited) Investments: Land $ 127,774 $ 126,703 Buildings and improvements 1,320,990 1,295,899 Accumulated depreciation and amortization (339,833) (312,6
Slide 24: Funds From Operations - Reconciliation of FFO and FAD
FUNDS FROM OPERATIONS - RECONCILIATION OF FFO AND FAD (UNAUDITED, AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2020 2019 2020 2019 GAAP net income available to common stockholders $ 12,114 $ 27,080 $ 77,381 $ 67,686 Add: Impairment
Slide 25: Funds From Operations - Reconciliation of FFO Per Share
FUNDS FROM OPERATIONS - RECONCILIATION OF FFO PER SHARE (UNAUDITED, AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) FFO FAD FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2020 2019 2020 2019 FFO/FAD attributable to common stockholders $ 22,791 $ 30,776 $ 28,188 $ 29,776 Non-recurring one-time items 5,099
Slide 26: Glossary
GLOSSARY Assisted Living Communities (“ALF”): The ALF portfolio consists of assisted living, independent Gross Investment: Original price paid for an asset plus capital improvements funded by LTC, without any living, and/or memory care properties. (See Independent Living and Memory Care) Assisted li
Slide 27: Glossary
GLOSSARY Micropolitan Statistical Areas (“Micro-SA”): Based on the U.S. Census Bureau, Micro-SA is a Private Pay: Private pay includes private insurance, HMO, VA, and other payors. geographic entity defined by the Office of Management and Budget (OMB) for use by Federal statistical agencies in colle