Form: 10-K

Annual report [Section 13 and 15(d), not S-K Item 405]

February 24, 2026

EXHIBIT 21

LTC PROPERTIES, INC.

LIST OF SUBSIDIARIES

As of December 31, 2025

Company

State of Organization

1595 Hopkinsville, LLC

Delaware

2200 Paducah Holdco, LLC

Delaware

2200 Paducah, LLC

Delaware

Acworth 4461, LLC

Delaware

Albuquerque Real Estate Investments, Inc.

Delaware

Appleton 955, LLC

Delaware

Appleton 957, LLC

Delaware

Aurora 14055, LLC

Delaware

Bakersfield-LTC, Inc.

Delaware

Beaumont Real Estate Investments, LP

Texas

Birch Bend II Owner's Association, Inc.

Kentucky

Brentwood 6030, LLC

Delaware

Broadway Real Estate Investments, Inc.

Delaware

Burr Ridge 150, LLC

Delaware

BV Holding-LTC, Inc.

Delaware

Cedarburg W76 N629, LLC

Delaware

Charlottesville 1250, LLC

Delaware

Chatham Real Estate Investments, LLC

Delaware

Coronado Corporation

Delaware

CPP Investments, Inc.

Delaware

Dacula 3581, LLC

Delaware

Docena Real Estate Investments, LLC

Delaware

DP Real Estate Investments, LLC

Delaware

Florida-LTC, Inc.

Nevada

Fort Atkinson 737, LLC

Delaware

Fort Wayne Real Estate Investments, Inc.

Delaware

Fort Worth 6621, LLC

Delaware

FP Real Estate Investments, LLC

Delaware

Frisco 9966, LLC

Delaware

Glenview 1879, LLC

Delaware

Great Road RE Holdings, Inc.

Delaware

Gulf Breeze Real Estate Investments, Inc.

Delaware

Hewitt Real Estate Investments, Inc.

Delaware

Hobart 650, LLC

Delaware

Hopkinsville Holdco, LLC

Delaware

JVC Holdings, Inc.

Delaware

JVCH Real Estate Investments, Inc.

Delaware

JVCO Real Estate Investments, Inc.

Delaware

JVWL Real Estate Investments, Inc.

Delaware

Kansas-LTC Corporation

Delaware

Lakes Real Estate Investments, Inc.

Delaware

Littleton Broadway 6767, LLC

Delaware

Littleton Kipling 5275, LLC

Delaware

LTC GP I, Inc.

Delaware

LTC West, Inc.

Nevada

LTC-Dearfield, Inc.

Nevada

LTC-DS, Inc.

Delaware

LTC-Finance, Inc.

Delaware

LTC-Griffin, Inc.

Nevada

LTC-Jonesboro, Inc.

Nevada

LTC-K1 Inc.

Delaware

Company

State of Organization

LTC-K2 Limited Partnership

Delaware

LTC-K2 LP, Inc.

Delaware

LTC-K2, Inc.

Delaware

LTC-New Mexico, Inc.

Nevada

LTC-Richmond, Inc.

Nevada

L-Tex GP, Inc.

Delaware

L-Tex LP Corporation

Delaware

Marietta 920, LLC

Delaware

Medford 2180, LLC

Delaware

Medford 2184, LLC

Delaware

Memorial Park Real Estate Investments, Inc.

Delaware

Merritt Island Real Estate Investments, Inc.

Delaware

Middleton 3820, LLC

Delaware

Midwest RE Holdings, Inc.

Delaware

Mission Real Estate Investments, Inc.

Delaware

MLREI Holdings, Inc.

Delaware

Monroeville Real Estate Investments, Inc.

Delaware

Morgan Hill 16515, LLC

Delaware

Mountain States Real Estate Investments, Inc.

Delaware

MS-FL Real Estate Investments, Inc.

Delaware

Murrieta 24325, LLC

Delaware

MW Real Estate Investments, LLC

Illinois

Neenah 131, LLC

Delaware

New Mexico Real Estate Investments, Inc.

Delaware

Newberry Real Estate Investments, Inc.

Delaware

NMKS Holdings, Inc.

Delaware

NMKS Real Estate Investments, Inc.

Delaware

North Carolina Real Estate Investments, LLC

North Carolina

Northwest RE Holdings, Inc.

Delaware

Oak Lawn 5701, LLC

Delaware

Ohio Springs Real Estate Investments, Inc.

Delaware

Overland Park 6921, LLC

Delaware

Park Villa Corporation

Delaware

PENN-IND Real Estate Investments, Inc.

Delaware

PSF Real Estate Investments, LLC

Delaware

RC Real Estate Investments, Inc.

Delaware

Red Oak Real Estate Investments, Inc.

Delaware

Rogue Valley RE Holdings, LLC

Delaware

RRC Real Estate Investments, LLC

Delaware

Sabal RE Holdings, LLC

Delaware

Skilled Healthcare Holdings, Inc.

Delaware

South Hills Real Estate Investments, Inc.

Delaware

Southeast RE Holdings, Inc.

Delaware

Stephenville Real Estate Investments, Inc.

Delaware

Stoughton 2600, LLC

Delaware

Suwanee 3180, LLC

Delaware

SWTX Real Estate Investments, Inc.

Delaware

Texas-LTC Limited Partnership

Texas

Texas-LTC Woodridge Limited Partnership

Delaware

Tinley Park 17833, LLC

Delaware

Tupelo Real Estate Investments, Inc.

Delaware

TXMS Real Estate Investments, Inc.

Delaware


Company

State of Organization

Vacaville-LTC, Inc.

Delaware

Virginia-LTC, Inc.

Nevada

West Chester 7200, LLC

Delaware

Westlake TRS, LLC

Delaware

Westminster 7700, LLC

Delaware

Wichita 1859, LLC

Delaware

WISL Investments, Inc.

Wisconsin