Santa Barbara Luncheon Series - REIT Investing - A Health Care REIT Case Study
An assortment of sandwiches, salads, and drinks will be provided.
REITs have historically offered investors the benefits of commercial real estate investment along with the advantages of investing in a publicly traded stock. The special investment characteristics of income-producing real estate historically provide REIT investors with competitive long-term rates of return that complement the returns from other stocks and bonds. Additionally, REITs are total return investments. They typically provide relatively high dividends plus the potential for moderate, long-term capital appreciation as well as liquidity, portfolio diversification and strong corporate governance.
REITs own apartments, single-family home rentals, student housing, senior housing, health care and life science facilities, hotels, office and industrial buildings, shopping centers, timberland, farm land, data centers, cell phone towers, self-storage and more. Individual REITs typically specialize in one property type or industry, such as health care. This allows investors to individually weight various property types in their portfolio.
Pam will walk us through the nuances of health care REITs and the investment characteristics that distinguish this property type from others. Using LTC Properties, Inc. as a case study, we will explore the metrics and criteria investors use in evaluating a health care REIT.
Pam Kessler | Pam Kessler is LTC’s Executive Vice President and Chief Financial Officer, a position she has held since 2007 and has been with the company as a member of the senior management team since 2000, when she joined LTC as Vice President and Controller. Pam oversees all aspects of finance, accounting, corporate reporting, tax and investor relations, and also focuses on LTC’s capital markets and key stakeholder engagement activities. She has over 20 years of real estate experience and has demonstrated expertise in developing, leading and executing capital markets and financial planning and analysis activities.
Prior to joining LTC, Pam served as the Corporate Controller for a privately held commercial and multifamily real estate developer. She was also the Director of Financial Reporting for Irvine Apartment Communities, an apartment REIT, and Assistant Controller of the Inland Empire division of KB Home, a publicly traded homebuilder. Pam began her career as a certified public accountant at Ernst & Young LLP and holds a bachelor’s degree in economics from the University of California, Irvine.
LTC (NYSE: LTC) is a real estate investment trust that invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. The company’s portfolio currently includes more than 200 assisted living communities, memory care communities and post-acute/skilled nursing centers, located in 29 states with 28 regional and national operating partners. For more information, visit www.LTCreit.com. Back To Top ^^
$5 (Members) | $20 (Non-Members)
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CFA Society of Los Angeles, 520 S. Grand Ave, Suite 655, Los Angeles CA 90071.
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Falko Hörnicke, CFA®, CFP® & George Tharakan, CFA
|As a participant in the CFA Institute Approved-Provider Program, the CFA Society of Los Angeles has determined that this program qualifies for 1 credit hour. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.|