LTC on NYSE

LTC PROPERTIES INC

American real estate investment trust based in Westlake Village. Summary from the record

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Last updated Oct 19, 2026.

Overview

Compare with UMH Properties, Apollo Commercial Real Estate Finance, Inc. or CENTERSPACE, or pick any stock.

  • TickerLTC on NYSE2
  • IndustryReal Estate Investment Trusts2
  • HeadquartersWestlake Village, United States2
  • Incorporated inMD3
  • Business address3011 Townsgate Road, Suite 220, Westlake Village, Ca 913613
  • Filer categoryLarge accelerated filer3
  • Legal formStock Corporation2
  • LEI549300NRZP8IJG2KY6772
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O CSC-LAWYERS INCORPORATING SERVICE COMPANY, 21202 Baltimore, United States2
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D034307092

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LTC Properties, Inc., a real estate investment trust (“REIT”), was incorporated on May 12, 1992 in the State of Maryland and commenced operations on August 25, 1992. Historically we have invested primarily in seniors housing and health care properties primarily through ownership, sale-leasebacks, mortgage financing, joint ventures, construction financing and structured finance solutions including preferred equity, bridge and mezzanine lending.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

77.9%Operating margin5
44.9%Net margin5
25.3%Revenue growth, 20255
11.0%Return on equity5
0.78×Debt to equity5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Real Estate Investments Portfolio brought in 72% of the revenue LTC PROPERTIES INC broke down this way in fiscal 2025.

  1. Real Estate Investments Portfolio$188.8M572%down 8% from 2024
  2. Seniors Housing Operating Portfolio$72.1M528%
Business segments by year
Business segments202320242025
Real Estate Investments Portfolio$196.5M$204.4M$188.8M
Seniors Housing Operating Portfolio$72.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs55¢$144.7M
  • Income tax0¢$179.0K
  • Profit45¢$118.0M

Out of $262.9M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid79¢$107.4M
  • Kept or used elsewhere21¢$28.6M

Out of $136.0M of cash from operations.5

Financial statements

Revenue67895$262.9M in 2025+42% since 2019
0$100.0M$200.0M$300.0M2019: $185.3M$185.3M20192020: $159.3M$159.3M2020−14%2021: $155.3M$155.3M2021−3%2022: $175.2M$175.2M2022+13%2023: $197.2M$197.2M2023+13%2024: $209.8M$209.8M2024+6%2025: $262.9M$262.9M2025+25%
Operating income67895$204.7M in 2025+150% since 2019
0$100.0M$200.0M$300.0M2019: $81.9M$81.9M20192020: $95.6M$95.6M2020+17%2021: $54.8M$54.8M2021−43%2022: $99.1M$99.1M2022+81%2023: $185.5M$185.5M2023+87%2024: $199.4M$199.4M2024+7%2025: $204.7M$204.7M2025+3%
Net income67895$118.0M in 2025+47% since 2019
0$50.0M$100.0M$150.0M2019: $80.5M$80.5M20192020: $95.3M$95.3M2020+18%2021: $55.9M$55.9M2021−41%2022: $100.0M$100.0M2022+79%2023: $89.7M$89.7M2023−10%2024: $91.0M$91.0M2024+1%2025: $118.0M$118.0M2025+30%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Rental income$116.2M$132.3M$127.3M
Resident fees and services$72.1M
Interest income from financing receivables$28.3M$21.7M$15.2M
Interest income from mortgage loans$39.0M$45.2M$47.7M
Interest and other income$7.2M$10.7M$6.9M
Total revenues$262.9M$209.8M$197.2M
Interest expense$35.3M$40.3M$47.0M
Depreciation and amortization$37.9M$36.4M$37.4M
Seniors housing operating expenses$54.1M
Impairment loss$0$7.0M$15.8M
Write-off of effective interest receivable$41.5M$0
Provision for credit losses$4.5M$741.0K$5.7M
Transaction costs$8.2M$819.0K$1.1M
Triple-net lease property tax expense$10.8M$12.9M$13.3M
General and administrative expenses$31.1M$27.2M$24.3M
Total expenses$223.4M$125.4M$144.6M
Income before unconsolidated joint ventures, real estate dispositions and other items$39.5M$84.5M$52.7M
Gain on sale of real estate, net$77.8M$8.0M$37.3M
Income from unconsolidated joint ventures$6.8M$2.4M$1.5M
Income tax provision-$179.0K$0$0
Net income$123.9M$94.9M$91.5M
Income allocated to non-controlling interests-$5.9M-$3.8M-$1.7M
Net income attributable to LTC Properties, Inc.$118.0M$91.0M$89.7M
Income allocated to participating securities-$696.0K-$682.0K-$587.0K
Net income available to common stockholders$117.3M$90.4M$89.1M
Basic (in dollars per share)$2.54$2.07$2.16
Diluted (in dollars per share)$2.52$2.04$2.16
Basic (in shares)46.2M shares43.7M shares41.3M shares
Diluted (in shares)46.6M shares44.2M shares41.4M shares

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Leadership

Who has led LTC PROPERTIES INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Andre C. Dimitriadis2006
  2. Wendy Simpson2007–2024
  3. Clint B. Malin2025–now
  4. Pamela Shelley-Kessler2025–now

Chair

  1. Andre C. Dimitriadis2006–2012
  2. Wendy Simpson2013–now

President

  1. Wendy Simpson2007–2020
  2. Clint B. Malin2021–now
  3. Pamela Shelley-Kessler2021–now

Chief financial officer

  1. Wendy Simpson2006
  2. Pamela Shelley-Kessler2007–2024
  3. Caroline Wong2025–now

Chief operating officer

  1. Wendy Simpson2006
2010201520202025
Board members and other officers (19)

Timeline

  1. Feb 12, 2025New chief executive Clint B. Malin becomes CEO13
  2. Feb 12, 2025New chief executive Pamela Shelley-Kessler becomes CEO14
  3. Mar 1, 2007New chief executive Wendy Simpson becomes CEO15
  4. Feb 15, 2006New chief executive Andre C. Dimitriadis becomes CEO16
  5. May 12, 1992Founded LTC PROPERTIES INC is founded2

Filings

232 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 45 major events, 119 insider forms, 15 large holders, 33 other. The latest 20:

  1. Sep 25, 20268-K EDGAR
  2. Aug 13, 20264 EDGAR
  3. Aug 6, 20268-K EDGAR
  4. Aug 6, 2026424B5 EDGAR
  5. Aug 5, 202610-Q EDGAR
  6. Aug 5, 20268-K EDGAR
  7. Jul 14, 20264 EDGAR
  8. Jul 13, 2026144 EDGAR
  9. Jun 30, 20268-K EDGAR
  10. Jun 4, 20264 EDGAR
  11. May 27, 20268-K EDGAR
  12. May 22, 20264 EDGAR
  13. May 22, 20264 EDGAR
  14. May 22, 20264 EDGAR
  15. May 22, 20264 EDGAR
  16. May 22, 20264 EDGAR
  17. May 6, 202610-Q EDGAR
  18. May 6, 20268-K EDGAR
  19. Apr 30, 2026SCHEDULE 13G EDGAR
  20. Apr 8, 2026ARS EDGAR

The 232 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

25 open-market trades by officers, directors and large owners since October 2021: 13 buys and 12 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 12, 2026Gruber David LDirectorBuy500$38.30$19.1KForm 4
Aug 11, 2026Gruber David LDirectorBuy3,500$38.30$134.1KForm 4
Jul 13, 2026TRICHE TIMOTHYDirectorSale3,125$39.54$123.6KForm 4
Jun 4, 2026BOITANO DAVID MEVP & CIOBuy10,000$34.77$347.7KForm 4
May 21, 2026Gruber David LDirectorBuy4,000$38.41$153.6KForm 4
Mar 5, 2026Gruber David LDirectorBuy7,000$38.00$266.0KForm 4
Dec 31, 2025BOITANO DAVID MEVP & CIOBuy10,000$34.44$344.4KForm 4
Nov 7, 2025Gruber David LDirectorBuy1,000$35.94$35.9KForm 4
Nov 6, 2025Gruber David LDirectorBuy4,000$35.41$141.6KForm 4
Jun 27, 2025BOITANO DAVID MEVP & CIOBuy6,000$34.71$208.3KForm 4
Jun 26, 2025BOITANO DAVID MEVP & CIOBuy4,000$34.50$138.0KForm 4
Dec 11, 2024Gruber David LDirectorBuy3,000$37.16$111.5KForm 4
Nov 7, 2024Malin Clint BCO-PRESIDENT & CO-CEOSale6,000$38.75$232.5KForm 4
Aug 30, 2024TRICHE TIMOTHYDirectorSale5,000$36.45$182.2KForm 4
Aug 2, 2024Gruber David LDirectorBuy6,000$35.75$214.5KForm 4
Apr 2, 2024TRICHE TIMOTHYDirectorSale3,082$31.67$97.6KForm 4
Dec 22, 2023Hendrickson Boyd WDirectorSale7,500$32.68$245.1KForm 4
Nov 14, 2023SHELLEY-KESSLER PAMELACO-PRESIDENT AND CO-CEOSale15,500$32.54$504.4KForm 4
Nov 8, 2023Gruber David LDirectorBuy3,500$31.33$109.7KForm 4
Jun 28, 2023TRICHE TIMOTHYDirectorSale6,000$33.03$198.2KForm 4

All 25 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.8,996,488$345.9M0.0%+697,508
Vanguard Portfolio Management LLC5,177,556$199.1M0.0%+290,206
State Street Corp3,349,509$128.8M0.0%+203,524
Vanguard Capital Management LLC2,298,799$88.4M0.0%+190,339
Geode Capital Management, LLC1,499,480$57.7M0.0%+153,023
American Century Companies Inc1,433,326$55.1M0.0%+104,162
Two Sigma Investments, LP1,200,370$46.2M0.0%−52,287
Morgan Stanley1,123,393$43.2M0.0%+108,890
Charles Schwab Investment Management Inc1,001,403$38.5M0.0%+93,043
Centersquare Investment Management LLC920,710$35.4M0.3%+914,250
Alyeska Investment Group, L.P.894,561$34.4M0.1%New
Advisors Capital Management, LLC810,087$31.1M0.3%+26,340
Wellington Management Group Llp728,696$28.0M0.0%+126,884
Nuveen, LLC726,591$27.9M0.0%−3,259
Dimensional Fund Advisors LP722,687$27.8M0.0%+45,717
Northern Trust Corp683,642$26.3M0.0%+117,152
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.623,096$24.0M0.0%+22,247
MetLife Investment Management, LLC614,908$23.6M0.1%+123,732
Bank of New York Mellon Corp520,359$20.0M0.0%+13,515
Eversept Partners, LP420,640$16.2M0.9%+99,594
Marshall Wace, Llp353,053$13.6M0.0%+224,515
Goldman Sachs Group Inc350,748$13.5M0.0%+132,494
Vanguard Fiduciary Trust Co340,448$13.1M0.0%+32,784
Legal & General Group Plc293,882$11.3M0.0%−5,585
Edgestream Partners, L.P.290,736$11.2M0.3%+97,978

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 28, 2025Derek TranDemocratic, HouseSale$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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