8-K

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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20459
                                   ----------

                                    FORM 8-K

                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934



                        Date of report: February 2, 2005
                       (Date of earliest event reported)



                              LTC PROPERTIES, INC.
             (Exact name of Registrant as specified in its charter)


            Maryland                       1-11314               71-0720518
(State or other jurisdiction of   (Commission file number)    (I.R.S. Employer
 incorporation or organization)                              Identification No)



                     22917 Pacific Coast Highway, Suite 350
                            Malibu, California 90265
                    (Address of principal executive offices)


                                 (805) 981-8655
              (Registrant's telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))

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Item 8.01. -- Other Events

On February 2, 2005, LTC Properties, Inc. announced the clarification of the
common stock dividend for the first quarter of fiscal 2005. A copy of the press
release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated herein
by reference. Such information shall not be deemed "filed" for the purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, and is not
incorporated by reference into any filing of the company, whether made before or
after the date hereof, regardless of any general incorporation language in such
filing.


Item 9.01. -- Financial Statements and Exhibits

(a) Financial Statements of Business Acquired.

None.

(b) Pro Forma Financial Information

None.

(c) Exhibits.

99.1     Press Release issued February 2, 2005.



                                    SIGNATURE


Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, hereunto duly authorized.

                                    LTC PROPERTIES, INC.



Dated:  February 2, 2005            By:  /s/  WENDY L. SIMPSON
                                         ---------------------
                                         Wendy L. Simpson
                                         Vice Chairman, Chief Financial
                                         Officer and Treasurer

EX-99.1

                                                                    Exhibit 99.1

         LTC Clarifies First Quarter Cash Dividend on Its Common Stock

     MALIBU, Calif.--(BUSINESS WIRE)--Feb. 2, 2005--LTC Properties, Inc.
(NYSE:LTC) announced that it wishes to clarify the declaration of the common
stock dividend issued earlier today.
     The dividend declared in the amount of $0.30 per common share payable on
March 31, 2005 to stockholders of record on March 18, 2005 is the common stock
dividend for the first quarter of fiscal 2005.
     The fourth quarter fiscal 2004 dividend in the amount of $0.30 per common
share was paid on December 31, 2004 to stockholders of record on December 17,
2004 as formerly announced on October 18, 2004.
     For more information on LTC Properties, Inc., visit the Company's website
at www.ltcproperties.com.


     CONTACT: LTC Properties, Inc.
              Andre C. Dimitriadis or Wendy L. Simpson, 805-981-8655