Equity (Tables)

9 Months Ended

Sep. 30, 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	38,519		30		38,549
Vested stock options and restricted stock	1,355		—		1,355
Stock option exercises	1,926		—		1,926
Reclassification adjustment	(40	)	—		(40	)
Redemption of non-controlling interest	(1,190	)	(1,574	)	(2,764	)
Non-controlling interest preferred return	—		(69	)	(69	)
Preferred stock dividends	(2,454	)	—		(2,454	)
Common stock dividends	(40,323	)	—		(40,323	)
Balance at September 30, 2012	$464,541		$ 349		$464,890

Schedule of effect of changes in ownership interest in the limited partnership on equity attributable to the company

	Three Months Ended September 30,		Nine Months Ended September 30,
	2012	2011	2012	2011
Net income attributable to LTC Properties, Inc.	$12,495	$12,375	$38,519	$36,695
Transfers from the non-controlling interest
Increase in paid-in capital for limited partners conversion	56	—	56	—
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	$12,551	$12,375	$37,329	$36,695

Schedule of cash dividends declared and paid

	Nine months ended September 30, 2012						Nine months ended September 30, 2011
	Declared			Paid			Declared			Paid
Preferred Stock
Series C		$  2,454			$  2,454			$  2,454			$  2,454
Series F (1)		—			—			2,240	(2)		4,008
		2,454			2,454			4,694			6,462
Common Stock		40,323	(3)		40,323	(3)		36,549	(4)		36,549	(4)
Total		$42,777			$42,777			$41,243			$43,011

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

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

(3)Represents $0.145 per share per month for January through July of 2012 and $0.155 per share per month for August through September of 2012.

(4)Represents $0.14 per share per month for the nine months ended September 30, 2011.