Equity (Tables)

3 Months Ended

Mar. 31, 2012

Equity

Schedule of allocation of equity between controlling and non-controlling interests

	LTC Properties, Inc. Stockholders’ Equity			Non-controlling Interest			Total Equity
Balance at December 31, 2011	$	466,748		$	1,962		$	468,710
Net income	12,921			11			12,932
Vested stock options and restricted stock	452			—			452
Stock option exercise	151			—			151
Reclassification adjustment	(13		)	—			(13		)
Non-controlling interest conversion	(1,246		)	(1,518		)	(2,764		)
Non-controlling interest preferred return	—			(48		)	(48		)
Preferred stock dividends	(818		)	—			(818		)
Common stock dividends	(13,226		)	—			(13,226		)
Balance at March 31, 2012	$	464,969		$	407		$	465,376

Schedule of change from net income and transfers from non-controlling interest

	Three months ended March 31,
	2012			2011
Net income attributable to LTC Properties, Inc.	$	12,921		$	12,106
Transfers from the non-controlling interest
Decrease in paid-in capital for limited partners conversion	(1,246		)	—
Change from net income attributable to LTC Properties, Inc. and transfers from non-controlling interest	$	11,675		$	12,106

Schedule of cash dividends declared and paid

	Three months ended March 31, 2012				Three months ended March 31, 2011
	Declared		Paid		Declared			Paid
Preferred Stock
Series C	$	818	$	818	$	818		$	—	(1)
Series F (2)	—		—		2,240		(3)	1,768
	818		818		3,058			1,768
Common Stock (4)	13,226		13,226		11,065			11,065
Total	$	14,044	$	14,044	$	14,123		$	12,833

(1)Series C preferred stock dividends were paid subsequent to March 31, 2011.

(2)During 2011, we redeemed all of our remaining Series F preferred Stock.

(3)Includes the accrued and unpaid dividends on the Series F preferred stock up to the redemption date.

(4)Represents $0.145 per share per month and $0.14 per share per month for the three months ended March 31, 2012 and 2011, respectively.