LTC PROPERTIES INC

For the period ended Sep 30, 2024. Filed Oct 28, 2024.

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

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Contents

Consolidated Statements of Income

(amounts in thousands, except per share, unaudited)


· · Three Months Ended · · Nine Months Ended ·
· · September 30, · · September 30, · ·
· 2024 · 2023 · 2024 · 2023
Revenues:
Rental income	$32,258	$31,589	$97,464	$94,861
Interest income from financing receivables	7,001	3,832	14,661	11,413
Interest income from mortgage loans	10,733	12,247	35,842	35,417
Interest and other income	5,791	1,635	9,298	5,358
Total revenues	55,783	49,303	157,265	147,049
Expenses:
Interest expense	10,023	12,674	31,971	34,595
Depreciation and amortization	9,054	9,499	27,173	28,085
Impairment loss	—	—	—	12,510
Provision for credit losses	215	189	942	2,107
Transaction costs	33	329	679	537
Property tax expense	3,186	3,271	9,816	9,751
General and administrative expenses	6,765	5,959	20,016	18,344
Total expenses	29,276	31,921	90,597	105,929
Other operating income:
Gain on sale of real estate, net	3,663	4,870	6,882	20,545
Operating income	30,170	22,252	73,550	61,665
Income from unconsolidated joint ventures	692	375	1,739	1,127
Net income	30,862	22,627	75,289	62,792
Income allocated to non-controlling interests	(1,496)	(430)	(2,332)	(1,287)
Net income attributable to LTC Properties, Inc.	29,366	22,197	72,957	61,505
Income allocated to participating securities	(201)	(147)	(511)	(440)
Net income available to common stockholders	$29,165	$22,050	$72,446	$61,065

Earnings per common share:
Basic	$0.66	$0.54	$1.67	$1.48
Diluted	$0.66	$0.54	$1.65	$1.48

Weighted average shares used to calculate earnings per common share:
Basic	43,868	41,153	43,313	41,127
Diluted	44,394	41,211	43,839	41,185

Dividends declared and paid per common share	$0.57	$0.57	$1.71	$1.71

See accompanying notes.

ContentsView on SEC.gov

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