LTC Properties Inc 2025年度报告

Indicate by checkmark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act.Yes☐No☒Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filingrequirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule12b-2 of the Exchange Act.: Largeacceleratedfiler☒Acceleratedfiler☐Non-acceleratedfiler☐Smallerreportingcompany☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act☐Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firmthat prepared or issued its audit report.☒If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement relating to its 2026 Annual Meeting of Stockholders are incorporated by reference intoAnnual Report on Form10-K where indicated. Cautionary Statement on Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning ofSection27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of1934, as amended, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statementsthat are not purely historical may be forward-looking. You can identify some of the forward-lookingstatements by their use of forward-looking words, such as “believes,” “expects,” “may,” “will,” “could,”“would,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates,” or thenegative of those words or similar words. Forward-looking statements involve inherent risks anduncertainties regarding events, conditions and financial trends that may affect our future plans ofoperation, business strategy, results of operations and financial position. A number of important factorscould cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, operational and legal risks and liabilities under our newSHOP segment; our dependence on the ability of our third-party independent operators to successfullymanage and operate our SHOP communities; our dependence on our operators for revenue and cash flow;government regulation of the health care industry; changes in federal, state, or local laws limiting REITinvestments in the health care sector; federal and state health care cost containment measures includingreductions in reimbursement from third-party payors such as Medicare and Medicaid; required regulatoryapprovals for operation of health care facilities; a failure to comply with applicable law or regulations forthe operation of health care facilities; the adequacy of insurance coverage maintained by our operators;our reliance on a few major operators; our ability to find suitable replacement operators for our SHOPcommunities; our ability to renew leases or enter into favorable terms of renewals or new leases; theimpact of inflation; operator financial or legal difficulties; the sufficiency of collateral securing mortgageloans; an impairment of our real estate investments; the relative illiquidity of our real estate investments;our ability to develop and complete construction projects; our ability to invest cash proceeds for healthcare properties; a failure to qualify as a REIT; our ability to grow if access to capital is limited; and afailure to maintain or increase our dividend. For a discussion of these and other factors that could causeactual results to differ from those contemplated in the forward-looking statements, please see thediscussion under “Risk Factors” contained in this report and in other information co