Equity (Tables)

9 Months Ended

Sep. 30, 2013

Equity is allocated between controlling and non-controlling interests as follows (in thousands):

	LTC Properties, Inc. Stockholders’ Equity		Non-controlling Interest		Total Equity
Balance at December 31, 2012	$463,101		$ 7		$463,108
Net income	43,165		—		43,165
Issue common stock	175,597		—		175,597
Vested restricted common stock	2,050		—		2,050
Stock option exercise	523		—		523
Reclassification adjustment	(26	)	—		(26	)
Non-controlling interest preferred return	—		(7	)	(7	)
Preferred stock dividends	(2,454	)	—		(2,454	)
Common stock dividends	(45,909	)	—		(45,909	)
Other	(23	)			(23	)
Balance at September 30, 2013	$636,024		$ —		$636,024

The following table represents the change from net income attributable to us and transfers from non-controlling interest (in thousands):

	Nine months ended September 30,
	2013	2012
Net income attributable to LTC Properties, Inc.	$43,165	$38,519
Transfers from the non-controlling interest
Increase in paid-in capital for limited partners conversion	—	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	$43,165	$37,329

We declared and paid the following cash dividends (in thousands):

______________

(1) Represents $0.155 per share per month for the nine months ended September 30, 2013.

(2) 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.