XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Rental income $ 31,589 $ 31,585 $ 94,861 $ 93,537
Interest income from financing receivables 3,832 357 11,413 357
Interest income from mortgage loans 12,247 10,379 35,417 30,112
Interest and other income 1,635 1,182 5,358 3,308
Total revenues 49,303 43,503 147,049 127,314
Expenses:        
Interest expense 12,674 7,941 34,595 22,607
Depreciation and amortization 9,499 9,385 28,085 28,202
Impairment loss   1,286 12,510 1,286
Provision for credit losses 189 795 2,107 1,454
Transaction costs 329 629 537 728
Property tax expense 3,271 4,179 9,751 12,180
General and administrative expenses 5,959 5,888 18,344 17,407
Total expenses 31,921 30,103 105,929 83,864
Other operating income:        
Gain (loss) on sale of real estate, net 4,870 (387) 20,545 37,809
Operating income 22,252 13,013 61,665 81,259
Income from unconsolidated joint ventures 375 376 1,127 1,127
Net income 22,627 13,389 62,792 82,386
Income allocated to non-controlling interests (430) (99) (1,287) (301)
Net income attributable to LTC Properties, Inc. 22,197 13,290 61,505 82,085
Income allocated to participating securities (147) (131) (440) (481)
Net income available to common stockholders $ 22,050 $ 13,159 $ 61,065 $ 81,604
Earnings per common share:        
Basic (in dollars per share) $ 0.54 $ 0.33 $ 1.48 $ 2.06
Diluted (in dollars per share) $ 0.54 $ 0.32 $ 1.48 $ 2.04
Weighted average shares used to calculate earnings per common share:        
Basic (in shares) 41,153 40,270 41,127 39,658
Diluted (in shares) 41,211 40,552 41,185 39,939
Dividends declared and paid per common share (in dollars per share) $ 0.57 $ 0.57 $ 1.71 $ 1.71