LTC PROPERTIES INC
For the period ended Sep 30, 2024. Filed Oct 28, 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.
Sep 30, 2024 · Filed Oct 28, 2024
LTC$44.98+0.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(amounts in thousands, except per share)
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · · · | |||||||
| · · September 30, 2024 · · December 31, 2023 · | |||||||
| · · (unaudited) · · (audited) · | |||||||
| ASSETS | | | | | | | |
| Investments: | | | | | | | |
| Land | | $118,382 | | $121,725 | | ||
| Buildings and improvements | | 1,217,954 | | 1,235,600 | | ||
| Accumulated depreciation and amortization | | (398,080) | | (387,751) | | ||
| Operating real estate property, net | | 938,256 | | 969,574 | | ||
| Properties held-for-sale, net of accumulated depreciation: 2024—$1,794; 2023—$3,616 | | 4,058 | | 18,391 | | ||
| Real property investments, net | | 942,314 | | 987,965 | | ||
| Financing receivables, net of credit loss reserve: 2024—$3,615; 2023—$1,980 | | | 357,889 | | | 196,032 | |
| Mortgage loans receivable, net of credit loss reserve: 2024—$3,638; 2023—$4,814 | | 360,776 | | 477,266 | | ||
| Real estate investments, net | | 1,660,979 | | 1,661,263 | | ||
| Notes receivable, net of credit loss reserve: 2024—$482; 2023—$611 | | 47,691 | | 60,490 | | ||
| Investments in unconsolidated joint ventures | | | 30,602 | | | 19,340 | |
| Investments, net | | 1,739,272 | | 1,741,093 | | ||
| | | | | | | | |
| Other assets: | | | | | | | |
| Cash and cash equivalents | | 35,040 | | 20,286 | | ||
| Debt issue costs related to revolving line of credit | | 1,548 | | 1,557 | | ||
| Interest receivable | | 58,421 | | 53,960 | | ||
| Straight-line rent receivable | | 18,677 | | 19,626 | | ||
| Lease incentives | | | 3,584 | | | 2,607 | |
| Prepaid expenses and other assets | | 15,095 | | 15,969 | | ||
| Total assets | | $1,871,637 | | $1,855,098 | | ||
| LIABILITIES | | | | | | | |
| Revolving line of credit | | $240,150 | | $302,250 | | ||
| Term loans, net of debt issue costs: 2024—$229; 2023—$342 | | | 99,771 | | | 99,658 | |
| Senior unsecured notes, net of debt issue costs: 2024—$1,098; 2023—$1,251 | | 445,402 | | 489,409 | | ||
| Accrued interest | | 3,757 | | 3,865 | | ||
| Accrued expenses and other liabilities | | 41,120 | | 43,649 | | ||
| Total liabilities | | 830,200 | | 938,831 | | ||
| EQUITY | | | | | | | |
| Stockholders’ equity: | | | | | | | |
| Common stock: $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2024—45,034; 2023—43,022 | | 450 | | 430 | | ||
| Capital in excess of par value | | 1,062,374 | | 991,656 | | ||
| Cumulative net income | | 1,707,352 | | 1,634,395 | | ||
| Accumulated other comprehensive income | | 3,639 | | 6,110 | | ||
| Cumulative distributions | | (1,825,996) | | (1,751,312) | | ||
| Total LTC Properties, Inc. stockholders’ equity | | 947,819 | | 881,279 | | ||
| Non-controlling interests | | 93,618 | | 34,988 | | ||
| Total equity | | 1,041,437 | | 916,267 | | ||
| Total liabilities and equity | | $1,871,637 | | $1,855,098 | | ||
See accompanying notes.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.