LTC Properties (LTC) Announces 3M Common Stock Offering
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Price: $37.25 +2.03%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 6.4%
EPS Growth %: +56.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 6.4%
EPS Growth %: +56.3%
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LTC Properties, Inc. (NYSE: LTC) announced today 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.
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.
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