Long-term care REIT boasts $15.5 million in quarterly investments
LTC Properties, Inc., a self-administered real estate investment trust that primarily invests in long-term care and other healthcare-related facilities, said this week it made investments totaling about $15.5 million during the quarter ended March 31.
It also disclosed it is contracted to fund a $5 million loan on or about April 25 and purchase a $1.3 million skilled nursing property, for which the company has a lease commitment. Including these two transactions, new investments since the beginning of the year will total $21.8 million.
The company, which is based in Malibu, CA, said it raised the quarterly dividend to 33 cents per share from 30 cents. It will begin paying the dividend on a monthly basis in the second quarter of 2005.