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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Rental income $ 31,585,000 $ 29,320,000 $ 93,537,000 $ 91,097,000
Interest income from financing receivable 357,000   357,000  
Interest income from mortgage loans 10,379,000 7,924,000 30,112,000 23,779,000
Interest and other income 1,182,000 228,000 3,308,000 1,005,000
Total revenues 43,503,000 37,472,000 127,314,000 115,881,000
Expenses:        
Interest expense 7,941,000 6,610,000 22,607,000 20,442,000
Depreciation and amortization 9,385,000 9,462,000 28,202,000 28,847,000
Impairment charges 1,286,000   1,286,000  
Provision for credit losses 795,000 68,000 1,454,000 59,000
Transaction costs 629,000 4,046,000 728,000 4,271,000
Property tax expense 4,179,000 3,932,000 12,180,000 11,713,000
General and administrative expenses 5,888,000 5,318,000 17,407,000 15,688,000
Total expenses 30,103,000 29,436,000 83,864,000 81,020,000
Other operating income:        
(Loss) gain on sale of real estate, net (387,000) 2,702,000 37,809,000 7,392,000
Operating income 13,013,000 10,738,000 81,259,000 42,253,000
Income from unconsolidated joint ventures 376,000 376,000 1,127,000 1,041,000
Net income 13,389,000 11,114,000 82,386,000 43,294,000
Income allocated to non-controlling interests (99,000) (92,000) (301,000) (271,000)
Net income attributable to LTC Properties, Inc. 13,290,000 11,022,000 82,085,000 43,023,000
Income allocated to participating securities (131,000) (113,000) (481,000) (346,000)
Net income available to common stockholders $ 13,159,000 $ 10,909,000 $ 81,604,000 $ 42,677,000
Earnings per common share:        
Basic (in dollars per share) $ 0.33 $ 0.28 $ 2.06 $ 1.09
Diluted (in dollars per share) $ 0.32 $ 0.28 $ 2.04 $ 1.09
Weighted average shares used to calculate earnings per common share:        
Basic (in shares) 40,270 39,177 39,658 39,149
Diluted (in shares) 40,552 39,177 39,939 39,149
Dividends declared and paid per common share (in dollars per share) $ 0.57 $ 0.57 $ 1.71 $ 1.71