LTC PROPERTIES INC

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 24, 2026

LTC$44.47-1.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Schedule III—Real Estate and Accumulated Depreciation

REAL ESTATE AND ACCUMULATED DEPRECIATION


· · · · · · · · · · · Costs · · · · · · · · · · · · · · · ·
· · · · · · · · · · · capitalized · · Gross amount at which carried at · · · · · · ·
· · · · · Initial cost to company · · subsequent · · December 31, 2025 · · · · · · ·
· · · · · · · · Building and · · to · · · · · Building and · · · · · Accum · · Construction/ · · Acquisition
· · Encumbrances · · Land · · improvements · · acquisition · · Land · · improvements · · Total (1) · · deprec. · · renovation date · · date
Skilled Nursing Properties:
218 Albuquerque, NM	$—	$1,696	$3,891	$1,482	$1,696	$5,373	$7,069	$2,760	2023	2005
219 Albuquerque, NM	—	1,950	8,910	923	1,950	9,833	11,783	5,283	1982	2005
220 Albuquerque, NM	—	2,463	7,647	290	2,463	7,937	10,400	4,338	1970	2005
252 Amarillo, TX	—	844	—	7,925	844	7,925	8,769	2,950	2013	2011
247 Arlington, TX	—	1,016	13,649	341	1,016	13,990	15,006	6,141	2007	2011
325 Austin, TX	—	896	9,562	174	896	9,736	10,632	1,052	2017	2022
319, Blue Springs, MO	—	2,644	13,942	73	2,644	14,015	16,659	3,279	2020	2019
007 Bradenton, FL	—	330	2,720	160	330	2,880	3,210	2,647	2012	1993
256 Brownwood, TX	—	164	6,336	78	164	6,414	6,578	2,818	2011	2012
257 Cincinnati, OH	—	1,890	25,110	224	1,890	25,334	27,224	7,493	2009	2012
125 Clovis, NM	—	561	5,539	415	561	5,954	6,515	3,595	2006	2001
129 Clovis, NM	—	598	5,902	652	598	6,554	7,152	3,740	1995	2001
267 Cold Spring, KY	—	2,050	21,496	196	2,050	21,692	23,742	7,123	2014	2012
246 Crowley, TX	—	2,247	14,276	526	2,247	14,802	17,049	6,528	2007	2011
258 Dayton, OH	—	373	26,627	—	373	26,627	27,000	7,956	2010	2012
196 Dresden, TN	—	31	1,529	1,073	31	2,602	2,633	1,607	2014	2000
298 Forth Worth, TX	—	2,785	7,546	797	2,785	8,343	11,128	4,372	1998	2015
326 Forth Worth, TX	—	922	12,268	221	922	12,489	13,411	1,388	2017	2022
026 Gardendale, AL	—	100	7,550	2,769	100	10,319	10,419	8,161	2011	1996
248 Granbury, TX	—	836	6,693	600	836	7,293	8,129	3,863	2008	2011
250 Hewitt, TX	—	1,780	8,220	772	1,780	8,992	10,772	3,667	2008	2011
318 Kansas City, MO	—	1,229	18,369	69	1,229	18,438	19,667	3,297	2018	2019
008 Lecanto, FL	—	351	2,665	2,737	351	5,402	5,753	4,699	2012	1993
322 Longview, TX	—	1,405	12,176	—	1,405	12,176	13,581	2,548	2014	2020
300 Mansfield, TX	—	2,890	13,110	—	2,890	13,110	16,000	4,820	2015	2016
053 Mesa, AZ	—	305	6,909	1,876	305	8,785	9,090	7,344	1996	1996
242 Mission, TX	—	1,111	16,602	2,021	1,111	18,623	19,734	7,112	2004	2010
233 Nacogdoches, TX	—	394	7,456	268	394	7,724	8,118	3,422	1991	2010
249 Nacogdoches, TX	—	1,015	11,109	621	1,015	11,730	12,745	5,540	2007	2011
245 Newberry, SC	—	439	4,639	1,047	439	5,686	6,125	2,815	1995	2011
244 Newberry, SC	—	919	5,454	556	919	6,010	6,929	2,907	2001	2011
251 Pasadena, TX	—	1,155	14,345	522	1,155	14,867	16,022	5,839	2005	2011
193 Phoenix, AZ	—	300	9,703	92	300	9,795	10,095	7,364	1985	2000
094 Portland, OR	—	100	1,925	3,152	100	5,077	5,177	4,469	2007	1997
254 Red Oak, TX	—	1,427	17,173	540	1,427	17,713	19,140	7,081	2002	2012
197 Ripley, TN	—	20	985	1,638	20	2,623	2,643	1,688	2014	2000
324 San Antonio, TX	—	1,676	15,470	307	1,676	15,777	17,453	1,665	2018	2022
281 Slinger, WI	—	464	13,482	—	464	13,482	13,946	5,227	2014	2015
243 Stephenville, TX	—	670	10,117	774	670	10,891	11,561	4,774	2009	2010
192 Tucson, AZ	—	276	8,924	112	276	9,036	9,312	6,787	1992	2000


· · · · · · · · · · · Costs · · · · · · · · · · · · · · · · ·
· · · · · · · · · · · capitalized · · Gross amount at which carried at · · · · · · · ·
· · · · · Initial cost to company · · subsequent · · December 31, 2025 · · · · · · · ·
· · · · · · · · Building and · · to · · · · · Building and · · · · · Accum · · Construction/ · · Acquisition ·
· · Encumbrances · · Land · · improvements · · acquisition · · Land · · improvements · · Total (1) · · deprec. · · renovation date · · date
305 Union, KY	—	858	24,116	—	858	24,116	24,974	5,236	2019	2016
299 Weatherford, TX	—	836	11,902	610	836	12,512	13,348	5,543	1996	2015
323 Webster, TX	—	2,310	8,713	206	2,310	8,919	11,229	1,049	2018	2022
Skilled Nursing Properties	$—	$46,326	$444,757	$36,839	$46,326	$481,596	$527,922	$191,987
Seniors Housing Properties:
105 Arvada, CO	—	100	2,810	7,767	100	10,577	10,677	4,931	2014	1997
304 Athens, GA	—	983	13,326	839	983	14,165	15,148	3,671	2016	2016
320 Auburn Hills, MI	—	1,964	4,577	1,560	1,964	6,137	8,101	2,217	1995	2019
260 Aurora, CO	—	831	10,071	327	831	10,398	11,229	3,659	1999	2012
330 Centerville, OH	—	2,678	52,036	228	2,678	52,264	54,942	5,646	2019	2023
263 Chatham, NJ	—	5,365	36,399	587	5,365	36,986	42,351	12,905	2002	2012
307 Clovis, CA	—	2,542	19,126	288	2,542	19,414	21,956	4,675	2014	2017
308 Clovis, CA	—	3,054	14,172	—	3,054	14,172	17,226	3,329	2016	2017
292 De Forest, WI	—	485	5,568	312	485	5,880	6,365	1,622	2006	2015
057 Dodge City, KS	—	84	1,666	693	84	2,359	2,443	1,381	2024	1995
083 Durant, OK	—	100	1,769	162	100	1,931	2,031	1,352	1997	1997
163 Ft. Collins, CO	—	100	2,961	3,834	100	6,795	6,895	3,853	2014	1999
170 Ft. Collins, CO	—	100	3,400	5,462	100	8,862	8,962	4,679	2014	1999
315 Ft. Worth, TX	—	1,534	11,099	213	1,534	11,312	12,846	2,404	2014	2018
314 Frisco, TX	—	2,216	10,417	413	2,216	10,830	13,046	2,312	2015	2018
167 Goldsboro, NC	—	100	2,385	251	100	2,636	2,736	1,424	1998	1999
056 Great Bend, KS	—	399	1,570	309	399	1,879	2,278	1,419	1995	1995
102 Greeley, CO	—	100	2,310	987	100	3,297	3,397	2,033	2024	1997
284 Green Bay, WI	—	1,660	19,079	673	1,660	19,752	21,412	6,075	2004	2015
286 Greenfield, WI	—	818	8,014	478	818	8,492	9,310	2,464	2007	2015
164 Greenville, NC	—	100	2,478	347	100	2,825	2,925	1,685	1998	1999
310 Kansas City, MO	—	1,072	15,552	—	1,072	15,552	16,624	3,303	2017	2017
285 Kenosha, WI	—	936	12,361	501	936	12,862	13,798	3,684	2008	2015
148 Longmont, CO	—	100	2,640	1,012	100	3,652	3,752	1,991	2024	1998
261 Louisville, CO	—	911	11,703	390	911	12,093	13,004	4,222	2000	2012
114 Loveland, CO		100	2,865	616	100	3,481	3,581	2,279	1997	1997
293 McHenry, IL		1,289	28,976	2,460	1,289	31,436	32,725	8,781	2005	2015


· · · · · · · · · · · Costs · · · · · · · · · · · · · · · ·
· · · · · · · · · · · capitalized · · Gross amount at which carried at · · · · · · ·
· · · · · Initial cost to company · · subsequent · · December 31, 2025 · · · · · · ·
· · · · · · · · · Building and · · to · · · · · Building and · · · · · Accum · · Construction/ · · Acquisition
· · Encumbrances · · Land · · · improvements · · acquisition · · Land · · improvements · · Total (1) · · deprec. · · renovation date · · date
058 McPherson, KS	—	79	1,571	773	79	2,344	2,423	1,531	2024	1995
280 Murrells Inlet, SC	—	2,490	14,185	539	2,490	14,724	17,214	4,674	2016	2015
166 New Bern, NC	—	100	2,427	384	100	2,811	2,911	1,466	1998	1999
118 Newark, OH	—	100	2,435	995	100	3,430	3,530	2,083	2024	1997
165 Rocky Mount, NC	—	100	2,494	580	100	3,074	3,174	1,676	1998	1999
059 Salina, KS	—	79	1,571	570	79	2,141	2,220	1,537	2024	1995
084 San Antonio, TX	—	100	1,900	372	100	2,272	2,372	1,455	1997	1997
092 San Antonio, TX	—	100	2,055	614	100	2,669	2,769	1,802	1997	1997
288 Sheboygan, WI	—	1,168	5,382	388	1,168	5,770	6,938	1,877	2006	2015
149 Shelby, NC	—	100	2,805	586	100	3,391	3,491	2,144	1998	1998
312 Spartanburg, SC	—	254	9,906	1,559	254	11,465	11,719	4,288	1999	2017
103 Springfield, OH	—	100	2,035	670	100	2,705	2,805	1,735	1997	1997
321 Sterling Heights, MI	—	1,133	11,487	1,201	1,133	12,688	13,821	3,349	1997	2019
098 Tiffin, OH	—	100	2,435	876	100	3,311	3,411	2,023	2024	1997
088 Troy, OH	—	100	2,435	1,452	100	3,887	3,987	2,414	1997	1997
080 Tulsa, OK	—	200	1,650	156	200	1,806	2,006	1,294	1997	1997
093 Tulsa, OK	—	100	2,395	47	100	2,442	2,542	1,745	1997	1997
075 Tyler, TX	—	100	1,800	660	100	2,460	2,560	1,499	2023	1996
091 Waco, TX	—	100	2,235	1,279	100	3,514	3,614	2,072	2024	1997
108 Watauga, TX	—	100	1,668	792	100	2,460	2,560	1,292	1996	1997
109 Weatherford, OK	—	100	1,669	703	100	2,372	2,472	1,657	1996	1997
110 Wheelersburg, OH	—	29	2,435	728	29	3,163	3,192	2,037	2024	1997
259 Wichita, KS	—	730	—	9,682	730	9,682	10,412	3,552	2013	2012
283 Wichita, KS	—	624	13,946	—	624	13,946	14,570	3,338	2016	2015
076 Wichita Falls, TX	—	100	1,850	342	100	2,192	2,292	1,465	1996	1996
264 Williamstown, NJ	—	711	6,637	—	711	6,637	7,348	2,463	2000	2012
265 Williamstown, NJ	—	711	8,649	—	711	8,649	9,360	3,053	2000	2012
Seniors Housing Properties	$—	$39,429	$409,387	$56,657	$39,429	$466,044	$505,473	$157,517


· · · · · · · · · · · Costs · · · · · · · · · · · · · · · ·
· · · · · · · · · · · capitalized · · Gross amount at which carried at · · · · · · ·
· · · · · Initial cost to company · · subsequent · · December 31, 2025 · · · · · · ·
· · · · · · · · Building and · · to · · · · · Building and · · · · · Accum · · Construction/ · · Acquisition
· · Encumbrances · · Land · · improvements · · acquisition · · Land · · improvements · · Total (1) · · deprec. · · renovation date · · date
Seniors Housing Operating Properties (SHOP)
336 Appleton, WI	—	2,047	45,604	23	2,047	45,627	47,674		377	2020	2025
269 Aurora, CO	—	850	8,583	238	850	8,821	9,671		3,267	2014	2013
341Brentwood, TN	—	3,368	27,963	3	3,368	27,966	31,334		84	2022	2025
277 Burr Ridge, IL	—	1,400	11,102	343	1,400	11,445	12,845		3,736	2016	2014
334 Cedarburg, WI	—	1,207	40,389	10	1,207	40,399	41,606		308	2019	2025
332 Fort Atkinson, WI	—	867	24,215	17	867	24,232	25,099		183	2019	2025
296 Glenview, IL	—	2,800	14,248	181	2,800	14,429	17,229		4,016	2017	2015
340 Hobart, WI	—	1,029	29,583	2	1,029	29,585	30,614		—	2017	2025
337 Hopkinsville, KY	—	588	19,291	2	588	19,293	19,881		160	2023	2025
255 Littleton, CO	—	1,882	8,248	497	1,882	8,745	10,627		2,839	2013	2012
268 Littleton, CO	—	1,200	8,688	301	1,200	8,989	10,189		3,394	2014	2013
339 Marietta, GA	—	2,290	20,708	17	2,290	20,725	23,015		122	2019	2025
342 Medford, OR	—	1,386	31,466	287	1,386	31,753	33,139		6,786	2020/2005	2018
335 Middleton, WI	—	1,944	43,155	1	1,944	43,156	45,100		300	2021	2025
331 Morgan Hill, CA	—	2,681	32,802	6	2,681	32,808	35,489		510	2019	2025
294 Murrieta, CA	—	2,022	11,136	96	2,022	11,232	13,254		3,563	2016	2015
289 Neenah, WI	—	694	20,839	1,459	694	22,298	22,992		6,039	1991	2015
306 Oak Lawn, IL	—	1,591	13,772	157	1,591	13,929	15,520		3,533	2018	2016
302 Overland Park, KS	—	1,951	11,882	570	1,951	12,452	14,403		3,588	2013	2016
338 Paducah, KY	—	1,752	18,127	3	1,752	18,130	19,882		152	2023	2025
333 Stoughton, WI	—	1,817	33,274	6	1,817	33,280	35,097		246	2019	2025
282 Tinley Park, IL	—	702	11,481	245	702	11,726	12,428		3,562	2016	2015
309 West Chester, OH	—	1,013	13,553	458	1,013	14,011	15,024		3,547	2017	2017
276 Westminster, CO	—	1,425	9,575	314	1,425	9,889	11,314		3,493	2015	2013
303 Wichita, KS	—	1,422	9,957	460	1,422	10,417	11,839		3,110	2011	2016
Seniors Housing Operating Properties (SHOP)	—	39,928	519,641	5,696	39,928	525,337	565,265		56,915
Other:
Properties:
297 Las Vegas, NV	—	1,965	7,308	1,789	1,965	9,097	11,062		2,487	1990/1994	2015
Properties	—	1,965	7,308	1,789	1,965	9,097	11,062		2,487
Land:
271 Howell, MI	—	420	—	—	420	—	420		—	N/A	2013
272 Milford, MI	—	450	—	—	450	—	450		—	N/A	2014
275 Yale, MI	—	73	—	—	73	—	73		—	N/A	2013
Land	—	943	—	—	943	—	943		—
Other Properties	—	2,908	7,308	1,789	2,908	9,097	12,005		2,487
	$—	$128,591	$1,381,093	$100,981	$128,591	$1,482,074	$1,610,665	(2)	$408,906

(1)

Depreciation is computed principally by the straight-line method for financial reporting purposes which generally range of a life from 5 to 15 years for furniture and equipment, 35 to 50 years for buildings, 10 to 20 years for site improvements, 10 to 50 years for building improvements and the respective lease term for acquired lease intangibles.

(2)	As of December 31, 2025, our aggregate cost for Federal income tax purposes was $1,579,853 (unaudited).

Activity for the years ended December 31, 2025, 2024 and 2023 is as follows:


· · For the Year Ended December 31,
· · 2025 · · 2024 · · 2023
Reconciliation of real estate:
Carrying cost:
Balance at beginning of period	$1,333,078	$1,379,332	$1,410,705
Acquisitions	354,703	319	54,714
Improvements	7,270	13,675	9,686
Cost of real estate sold	(84,386)	(53,295)	(79,998)
Impairment loss from real estate investments	—	(6,953)	(15,775)
Ending balance	$1,610,665	$1,333,078	$1,379,332
Accumulated depreciation:
Balance at beginning of period	$407,230	$391,367	$391,487
Depreciation expense	37,656	36,223	37,303
Cost of real estate sold	(35,980)	(20,360)	(37,423)
Ending balance	$408,906	$407,230	$391,367

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.