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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Rental income $ 20,275 $ 38,277 $ 58,310 $ 75,901
Interest income from mortgage loans 7,820 7,351 15,597 14,662
Interest and other income 386 638 984 1,159
Total revenues 28,481 46,266 74,891 91,722
Expenses:        
Interest expense 7,546 7,710 15,256 15,177
Depreciation and amortization 9,797 9,860 19,466 19,467
Provision for doubtful accounts   84 1 167
Transaction costs 64 200 134 200
Property tax expense 4,111 3,910 8,334 8,296
General and administrative expenses 4,580 4,596 9,680 9,167
Total expenses 26,098 26,360 52,871 52,474
Other operating income:        
Gain on sale of real estate, net 189 500 44,043 500
Operating income 2,572 20,406 66,063 39,748
Loss on unconsolidated joint ventures (620)   (620)  
Income from unconsolidated joint ventures   128 231 1,213
Net income 1,952 20,534 65,674 40,961
Income allocated to non-controlling interests (82) (88) (171) (169)
Net income attributable to LTC Properties, Inc. 1,870 20,446 65,503 40,792
Income allocated to participating securities (97) (94) (278) (186)
Net income available to common stockholders $ 1,773 $ 20,352 $ 65,225 $ 40,606
Earnings per common share:        
Basic (in dollars per share) $ 0.05 $ 0.51 $ 1.66 $ 1.03
Diluted (in dollars per share) $ 0.05 $ 0.51 $ 1.66 $ 1.02
Weighted average shares used to calculate earnings per common share:        
Basic (in shares) 39,055 39,577 39,298 39,555
Diluted (in shares) 39,137 39,769 39,380 39,747
Dividends declared and payable per common share (in dollars per share) $ 0.57 $ 0.57 $ 1.14 $ 1.14
Comprehensive Income:        
Net income $ 1,952 $ 20,534 $ 65,674 $ 40,961
Comprehensive income $ 1,952 $ 20,534 $ 65,674 $ 40,961