LTC Properties Inc (LTC) Q4 2019 Earnings Call Transcript

LTC Properties Inc (LTC) Q4 2019 Earnings Call Transcript

[Operator Instructions] After today's presentation, there will be an opportunity to ask questions.. Joining me today are Pam Kessler, our Chief Financial Officer; and Clint Malin, our Chief Investment Officer.. 2020 sales will be higher than its historical average based on our progress in divesting the Preferred Care portfolio, which Clint will discuss later and as we continue to pursue additional capital recycling opportunities.. Subsequent to year end, we completed a transaction with HMG Healthcare adding another strong regional operator.. The new operators expand both skilled nursing and senior living.. On the private pay side, Randall Residence is a strong regional operator, whose excellent operating and development capabilities provide us and the residents with significant value.. Assuming no additional investment activity, financing our equity issuances and assuming the sale of the Preferred Care portfolio, FFO is expected to be between $3.01 and $3.03 for the year.. Revenue in the 2019 period includes property tax income, while 2018 does not.. Please note that we have received $2.5 million more rent from Senior Care this quarter than we did in the fourth quarter of 2018.. In December 2018, Senior Care failed to pay rent and entered bankruptcy protection.. While other income decreased