v3.25.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
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| Revenues: | ||||
| Rental income | $ 27,842,000 | $ 32,258,000 | $ 89,463,000 | $ 97,464,000 |
| Resident fees and services | 22,203,000 | 34,153,000 | ||
| Interest income from financing receivables | 7,096,000 | 7,001,000 | 21,182,000 | 14,661,000 |
| Interest income from mortgage loans | 9,856,000 | 10,733,000 | 28,715,000 | 35,842,000 |
| Interest and other income | 2,293,000 | 5,791,000 | 5,048,000 | 9,298,000 |
| Total revenues | 69,290,000 | 55,783,000 | 178,561,000 | 157,265,000 |
| Expenses: | ||||
| Interest expense | 8,791,000 | 10,023,000 | 24,718,000 | 31,971,000 |
| Depreciation and amortization | 8,987,000 | 9,054,000 | 26,925,000 | 27,173,000 |
| Seniors housing operating expenses | 17,362,000 | 26,781,000 | ||
| Write-off of effective interest receivable | 41,455,000 | 41,455,000 | ||
| Provision for credit losses | 203,000 | 215,000 | 3,642,000 | 942,000 |
| Transaction costs | 587,000 | 33,000 | 7,734,000 | 679,000 |
| Triple-net lease property tax expense | 2,581,000 | 3,186,000 | 8,483,000 | 9,816,000 |
| General and administrative expenses | 7,523,000 | 6,765,000 | 22,941,000 | 20,016,000 |
| Total expenses | 87,489,000 | 29,276,000 | 162,679,000 | 90,597,000 |
| (Loss) income before unconsolidated joint ventures, real estate dispositions and other items | (18,199,000) | 26,507,000 | 15,882,000 | 66,668,000 |
| (Loss) gain on sale of real estate, net | (738,000) | 3,663,000 | (235,000) | 6,882,000 |
| Income from unconsolidated joint ventures | 439,000 | 692,000 | 4,543,000 | 1,739,000 |
| Income tax (expense) benefit | (42,000) | 39,000 | ||
| Net (loss) income | (18,540,000) | 30,862,000 | 20,229,000 | 75,289,000 |
| Income allocated to non-controlling interests | (1,455,000) | (1,496,000) | (4,452,000) | (2,332,000) |
| Net (loss) income attributable to LTC Properties, Inc. | (19,995,000) | 29,366,000 | 15,777,000 | 72,957,000 |
| Income allocated to participating securities | (154,000) | (201,000) | (471,000) | (511,000) |
| Net (loss) income available to common stockholders | $ (20,149,000) | $ 29,165,000 | $ 15,306,000 | $ 72,446,000 |
| Earnings per common share: | ||||
| Basic (in dollars per share) | $ (0.44) | $ 0.66 | $ 0.33 | $ 1.67 |
| Diluted (in dollars per share) | $ (0.44) | $ 0.66 | $ 0.33 | $ 1.65 |
| Weighted average shares used to calculate earnings per common share: | ||||
| Basic (in shares) | 46,123 | 43,868 | 45,726 | 43,313 |
| Diluted (in shares) | 46,123 | 44,394 | 46,107 | 43,839 |
| Dividends declared and paid per common share (in dollars per share) | $ 0.57 | $ 0.57 | $ 1.71 | $ 1.71 |
| X | ||||||||||
- Definition The amount of income from unconsolidated joint ventures. No definition available.
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| X | ||||||||||
- Definition Amount of real estate operating expenses. No definition available.
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| X | ||||||||||
- Definition Amount of revenue recognized during the period from rendering of services and collection of fees from the real estate properties. No definition available.
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| X | ||||||||||
- Definition Amount of expense for acquisition-related cost incurred to effect business combination. Includes, but is not limited to, finder's fee; advisory, legal, accounting, valuation, and other professional and consulting fees; and general administrative cost, including cost of maintaining internal acquisition department. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of writeoff of accrued interest on financing receivable recognized by reversing interest income. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Interest and fee income related to commercial loans including industrial and agricultural, real estate (commercial and residential, construction and development), trade financing, and lease financing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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| X | ||||||||||
- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of interest income from financing receivable before allowance for credit loss. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of earnings (loss) distributed and earnings (loss) allocated to participating securities for the basic earnings (loss) per share or per unit calculation under the two-class method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of expense (reversal of expense) for expected credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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