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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Rental income $ 31,628 $ 29,804 $ 61,952 $ 61,777
Interest income from mortgage loans 10,097 7,933 19,733 15,855
Interest and other income 1,299 392 2,126 777
Total revenues 43,024 38,129 83,811 78,409
Expenses:        
Interest expense 7,523 6,860 14,666 13,832
Depreciation and amortization 9,379 9,508 18,817 19,385
Provision (recovery) for credit losses 305   659 (9)
Transaction costs 67 133 99 225
Property tax expense 4,019 3,800 8,001 7,781
General and administrative expenses 5,711 5,337 11,519 10,370
Total expenses 27,004 25,638 53,761 51,584
Other operating income:        
Gain on sale of real estate, net 38,094 5,463 38,196 4,690
Operating income 54,114 17,954 68,246 31,515
Income from unconsolidated joint ventures 376 376 751 665
Net income 54,490 18,330 68,997 32,180
Income allocated to non-controlling interests (107) (91) (202) (179)
Net income attributable to LTC Properties, Inc. 54,383 18,239 68,795 32,001
Income allocated to participating securities (318) (113) (407) (233)
Net income available to common stockholders $ 54,065 $ 18,126 $ 68,388 $ 31,768
Earnings per common share:        
Basic (in dollars per share) $ 1.37 $ 0.46 $ 1.74 $ 0.81
Diluted (in dollars per share) $ 1.36 $ 0.46 $ 1.73 $ 0.81
Weighted average shares used to calculate earnings per common share:        
Basic (in shares) 39,492 39,169 39,347 39,135
Diluted (in shares) 39,665 39,170 39,520 39,136
Dividends declared and paid per common share (in dollars per share) $ 0.57 $ 0.57 $ 1.14 $ 1.14