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<SEC-DOCUMENT>0001157523-04-001707.txt : 20040223
<SEC-HEADER>0001157523-04-001707.hdr.sgml : 20040223
<ACCEPTANCE-DATETIME>20040223163151
ACCESSION NUMBER:		0001157523-04-001707
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040223
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20040223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LTC PROPERTIES INC
		CENTRAL INDEX KEY:			0000887905
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				710720518
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11314
		FILM NUMBER:		04622344

	BUSINESS ADDRESS:	
		STREET 1:		300 ESPLANADE DR STE 1860
		CITY:			OXNARD
		STATE:			CA
		ZIP:			93030
		BUSINESS PHONE:		8059818655

	MAIL ADDRESS:	
		STREET 1:		300 ESPLANADE DR SUITE 1860
		CITY:			OXNARD
		STATE:			CA
		ZIP:			93030
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a4579204.txt
<DESCRIPTION>LTC PROPERTIES  8-K
<TEXT>
================================================================================


                                  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 23, 2004
                        (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)



================================================================================

<PAGE>

Item 5. -- Other Events

LTC Properties, Inc. ("LTC") issued a press release on February 23, 2004,
announcing the redemption of 1,838,520 shares of its 9.5% Series A Cumulative
Preferred Stock representing all of the outstanding shares of the Series A
Cumulative Preferred Stock. The redemption date will be March 25, 2004 and the
redemption price will be $25.00 per share plus accrued and unpaid dividends. As
additional public disclosure, the Company is furnishing this press release,
attached hereto as Exhibit 99.1.


Item 7. -- Exhibits

     (c)  Exhibits.

           99.1 Press Release dated February 23, 2004 announcing the redemption
                of 9.5% Series A Cumulative Preferred Stock



                                    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 23, 2004          By: /s/  WENDY L. SIMPSON
                                       _________________________________________
                                       Wendy L. Simpson
                                       Vice Chairman and Chief Financial Officer







                                  EXHIBIT INDEX


Exhibit 99.1        Press Release dated February 23, 2004 announcing the
                    redemption of 9.5% Series A Cumulative Preferred Stock

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a4579204_ex991.txt
<DESCRIPTION>LTC PROPERTIES   EXHBIT 99.1
<TEXT>
                                                                   Exhibit 99.1

 LTC Announces Redemption of 9.5% Series A Cumulative Preferred Stock

    MALIBU, Calif.--(BUSINESS WIRE)--Feb. 23, 2004--LTC Properties,
Inc. (the "Company") (NYSE:LTC) announced today that it has called for
a redemption of 1,838,520 shares of its 9.5% Series A Cumulative
Preferred Stock (NYSE: LTC PrA) (the "Series A Preferred Stock")
representing all of the outstanding shares of Series A Preferred
Stock. The redemption date of the Series A Preferred Stock will be
March 25, 2004 (the "Redemption Date"), and the redemption price will
be $25.00 per share of Series A Preferred Stock, plus accrued and
unpaid dividends, up to and including the Redemption Date for a total
of $25.1583 per share (the "Redemption Price"). The dividend payment
due on March 15, 2004, to shareholders of record on March 1, 2004 on
the Series A Preferred Stock will be made in the usual manner.
    Shareholders who hold shares of Series A Preferred Stock through
the Depository Trust Company will be redeemed in accordance with the
Depository Trust Company's procedures. On or before the Redemption
Date, the funds necessary for the redemption of the shares of Series A
Preferred Stock will have been set aside by the Company in trust for
the benefit of the holders thereof. Subject to applicable escheat
laws, any moneys set aside by the Company and unclaimed at the end of
two years from the Redemption Date will revert to the general funds of
the Company, after which reversion the holders of the shares of the
Series A Preferred Stock called for redemption may look only to the
general funds of the Company for the payment of the Redemption Price.
    After the Redemption Date, dividends on such Series A Preferred
Stock will cease to accrue on such shares and such shares of Series A
Preferred Stock shall no longer be deemed outstanding and all rights
of the holders in respect of such Series A Preferred Stock being
redeemed will terminate, except for the right to receive the
Redemption Price, without interest thereon.
    The notice of redemption and related materials will be mailed to
registered holders of the Series A Preferred Stock called for
redemption on or about February 24, 2004. Shares of the Series A
Preferred Stock called for redemption are to be surrendered to
Computershare Trust Company of New York, as redemption agent, for
payment of the Redemption Price, by mail, by hand or by overnight
delivery at the addresses set forth in the letter of transmittal that
will accompany the notice of redemption. Questions relating to, and
requests for additional copies of, the notice of redemption and the
related materials should be directed to Computershare Trust Company of
New York, at 800-245-7630.
    The Company is a self-administered real estate investment trust
that invests primarily in long-term care and other health care related
facilities through mortgage loans, facility lease transactions and
other investments. For more information on LTC Properties, Inc., visit
the Company's website at www.ltcproperties.com.


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

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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