---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-131053"
form_type: "8-K"
ticker: "LTC"
cik: "0000887905"
company_name: "LTC PROPERTIES INC"
filed_at: "2021-10-28T23:59:59+00:00"
generated_at: "2026-06-28T17:09:08.721092+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# LTC Q3 2021 net income $10.9M; FFO $17.7M down 22% YoY on lease defaults

## Summary
- Net income $10.9M ($0.28 diluted EPS) vs $12.1M in Q3 2020; NAREIT FFO $17.7M ($0.45/share) down from $22.8M.
- Rental income hit by unpaid lease obligations from Senior Care and Senior Lifestyle non-payment; partially offset by $5.5M straight-line rent write-off in 2020.
- Transitions: re-leased 6 assisted living communities (Wisconsin, Pennsylvania, Nebraska); sold Washington SNF for $7.7M with $2.6M gain.
- Settlement with Senior Care: $3.25M payment to facilitate transition of 11 SNFs to HMG; transition completed post-Q3.
- Post-Q3: funded $27M and $12.5M loans, provided $25M working capital loan to HMG, and granted rent deferrals/abatements.

## SEC filing metadata
- accession: 0001104659-21-131053
- form_type: 8-K
- ticker: LTC
- cik: 0000887905
- company_name: LTC PROPERTIES INC
- filed_at: 2021-10-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887905/000110465921131053/0001104659-21-131053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887905/000110465921131053/tm2126594d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-131053
- JSON: https://secwatch.observer/filing/0001104659-21-131053.json
- Plain text: https://secwatch.observer/filing/0001104659-21-131053.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.