LTC PROPERTIES INC
For the period ended Jun 30, 2024. Filed Jul 29, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 29, 2024
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 exhibitsContents
Consolidated Statements of Income
(amounts in thousands, except per share, unaudited)
| | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Three Months Ended · · Six Months Ended · | ||||||||||||||
| · · June 30, · · June 30, · · | ||||||||||||||
| · 2024 · 2023 · 2024 · 2023 | ||||||||||||||
| Revenues: | | | | | | | | | | | | | | |
| Rental income | | $31,657 | | $31,537 | | $65,206 | | $63,272 | | | ||||
| Interest income from financing receivables | | | 3,830 | | | 3,830 | | | 7,660 | | | 7,581 | | |
| Interest income from mortgage loans | | 12,661 | | | 11,926 | | 25,109 | | 23,170 | | | |||
| Interest and other income | | 1,968 | | 953 | | 3,507 | | 3,723 | | | ||||
| Total revenues | | 50,116 | | 48,246 | | 101,482 | | 97,746 | | | ||||
| Expenses: | | | | | | | | | | | | | | |
| Interest expense | | 10,903 | | 11,312 | | 21,948 | | 21,921 | | | ||||
| Depreciation and amortization | | 9,024 | | 9,376 | | 18,119 | | 18,586 | | | ||||
| Impairment loss | | | — | | | 12,076 | | | — | | | 12,510 | | |
| Provision for credit losses | | 703 | | 187 | | 727 | | 1,918 | | | ||||
| Transaction costs | | | 380 | | | 91 | | | 646 | | | 208 | | |
| Property tax expense | | | 3,247 | | | 3,187 | | | 6,630 | | | 6,480 | | |
| General and administrative expenses | | 6,760 | | 6,091 | | 13,251 | | 12,385 | | | ||||
| Total expenses | | 31,017 | | 42,320 | | 61,321 | | 74,008 | | | ||||
| Other operating income: | | | | | | | | | | | | | | |
| (Loss) gain on sale of real estate, net | | | (32) | | | 302 | | | 3,219 | | | 15,675 | | |
| Operating income | | 19,067 | | 6,228 | | 43,380 | | 39,413 | | | ||||
| Income from unconsolidated joint ventures | | | 671 | | | 376 | | | 1,047 | | | 752 | | |
| Net income | | | 19,738 | | | 6,604 | | | 44,427 | | | 40,165 | | |
| Income allocated to non-controlling interests | | (377) | | (430) | | (836) | | (857) | | | ||||
| Net income attributable to LTC Properties, Inc. | | 19,361 | | 6,174 | | | 43,591 | | 39,308 | | | |||
| Income allocated to participating securities | | (173) | | | (146) | | | (338) | | (293) | | | ||
| Net income available to common stockholders | | $19,188 | | $6,028 | | $43,253 | | $39,015 | | | ||||
| | | | | | | | | | | | | | | |
| Earnings per common share: | | | | | | | | | | | | | | |
| Basic | | $0.44 | | $0.15 | | $1.01 | | $0.95 | | | ||||
| Diluted | | $0.44 | | $0.15 | | $1.00 | | $0.95 | | | ||||
| | | | | | | | | | | | | | | |
| Weighted average shares used to calculate earnings per common share: | | | | | | | | | | | | | | |
| Basic | | 43,171 | | 41,145 | | 43,030 | | 41,113 | | | ||||
| Diluted | | 43,463 | | 41,232 | | 43,322 | | 41,200 | | | ||||
| | | | | | | | | | | | | | | |
| Dividends declared and paid per common share | | $0.57 | | $0.57 | | $1.14 | | $1.14 | | | ||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.