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Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity |
Schedule of consolidated VIEs | As of December 31, 2024, we have the following consolidated VIEs (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​
Investment | ​ | ​ | ​ | Property | ​ | ​ | ​ | ​ | Consolidated | ​ | ​ | Non-Controlling | ​
Year | ​ | Purpose | ​ | Type | ​ | State | ​ | ​ | Assets | ​ | ​ | Interests | ​
2024 | ​ | Own real estate | ​ | ILF/ALF/MC | ​ | NC/SC | ​ | $ | 122,460 | ​ | $ | 58,010 | ​
2024 | ​ | Own real estate | ​ | ALF/MC | ​ | NC | ​ | ​ | 41,000 | ​ | ​ | 3,015 | ​
2023 | ​ | Own real estate | ​ | ILF/ALF/MC | ​ | OH | ​ | ​ | 54,782 | ​ | ​ | 9,134 | ​
2023 | ​ | Own real estate | ​ | ALF/MC | ​ | NC | ​ | ​ | 121,419 | ​ | ​ | 3,831 | ​
2022 | ​ | Own real estate | ​ | SNF | ​ | FL | ​ | ​ | 76,603 | ​ | ​ | 14,325 | ​
2018 | ​ | Own real estate | ​ | ILF | ​ | OR | ​ | ​ | 14,650 | ​ | ​ | 2,907 | ​
2018 | ​ | Own and develop real estate | ​ | ALF/MC | ​ | OR | ​ | ​ | 18,452 | ​ | ​ | 1,156 | ​
Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 449,366 | ​ | $ | 92,378 | ​
Schedule of cash dividends declared and paid | Distributions. We declared and paid the following cash dividends (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |  | ​
​ | ​ | 2024 | ​ | 2023 | ​ | 2022 |  | ​
​ | ​ | Declared | ​ | Paid | ​ | Declared | ​ | Paid | ​ | Declared | ​ | Paid |  | ​
Common Stock (1) | ​ | $ | 100,530 | ​ | $ | 100,530 | ​ | $ | 94,764 | ​ | $ | 94,764 | ​ | $ | 91,509 | ​ | $ | 91,509 | ​ | ​
(1) | Represents $0.19 per share per month for the years ended December 31, 2024, 2023 and 2022.
Schedule of restricted stock activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | Shares | ​ | Weighted Average Price
​ | ​ | 2024 | ​ | 2023 | ​ | 2022 |  | 2024 | ​ | 2023 | ​ | 2022
Outstanding, January 1 | ​ | ​ | 258,620 | ​ | ​ | 229,236 | ​ | ​ | 197,422 | ​ | $ | 36.43 | ​ | $ | 38.26 | ​ | $ | 44.20
Granted | ​ | ​ | 175,431 | ​ | ​ | 146,020 | ​ | ​ | 135,210 | ​ | $ | 31.07 | ​ | $ | 36.55 | ​ | $ | 34.35
Vested | ​ | ​ | (132,842) | ​ | ​ | (115,551) | ​ | ​ | (103,396) | ​ | $ | 31.51 | ​ | $ | 36.29 | ​ | $ | 34.93
Cancelled | ​ | ​ | — | ​ | ​ | (1,085) | ​ | ​ | — | ​ | ​ | n/a | ​ | $ | 34.73 | ​ | ​ | n/a
Outstanding, December 31 | ​ | ​ | 301,209 | ​ | ​ | 258,620 | ​ | ​ | 229,236 | ​ | $ | 33.18 | ​ | $ | 36.43 | ​ | $ | 38.26
Schedule of restricted stock granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | No. of | ​ | Price per | ​ | ​ | ​ | ​ | ​
Year | ​ | Shares/Units | ​ | Share | ​ | Reward Type | ​ | Vesting Period | ​
2024 | ​ | 159,536 | ​ | $ | 30.72 | ​ | Restricted stock | ​ | ratably over 3 years | ​
​ | ​ | 69,610 | ​ | $ | 31.84 | ​ | Performance-based stock units | ​ | TSR targets (1) | ​
​ | ​ | 62,914 | ​ | $ | 31.84 | ​ | Performance-based stock units | ​ | TSR targets (2) | ​
​ | ​ | 15,895 | ​ | $ | 34.60 | ​ | Restricted stock | ​ | (3) | ​
​ | ​ | 307,955 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2023 | ​ | 127,960 | ​ | $ | 37.16 | ​ | Restricted stock | ​ | ratably over 3 years | ​
​ | ​ | 86,867 | ​ | $ | 37.16 | ​ | Performance-based stock units | ​ | TSR targets (4) | ​
​ | ​ | 15,060 | ​ | $ | 31.54 | ​ | Restricted stock | ​ | May 24, 2024 | ​
​ | ​ | 3,000 | ​ | $ | 35.45 | ​ | Restricted stock | ​ | July 25, 2024 | ​
​ | ​ | 232,887 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2022 | ​ | 122,865 | ​ | $ | 33.94 | ​ | Restricted stock | ​ | ratably over 3 years | ​
​ | ​ | 86,332 | ​ | $ | 33.94 | ​ | Performance-based stock units | ​ | TSR targets (4) | ​
​ | ​ | 12,345 | ​ | $ | 38.48 | ​ | Restricted stock | ​ | May 25, 2023 | ​
​ | ​ | 221,542 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Vesting is based on achieving certain total shareholder return (“TSR”) targets in 3 years.
​
(2) | Vesting is based on achieving certain TSR targets relative to the TSR of a predefined peer group in 3 years.
​
(3) | The vesting date is the earlier of the one-year anniversary of the award date or the date of the next annual meeting of the stockholders of LTC following the award date.
​
(4) | Vesting is based on achieving certain total shareholder return (“TSR”) targets in 4 years with acceleration opportunity in 3 years.
Schedule of restricted common stock and performance-based stock unit scheduled to vest and remaining compensation expense | At December 31, 2024, the remaining compensation expense to be recognized related to the future service period of unvested outstanding restricted common stock and performance-based stock units are as follows (dollar amount in thousands):
​ | ​ | ​ | ​
​ | ​ | Remaining
​ | ​ | Compensation
Vesting Date | ​ | Expense
2025 | ​ | $ | 6,450
2026 | ​ | ​ | 3,385
2027 | ​ | ​ | 369
Total | ​ | $ | 10,204
​
Schedule of nonqualified stock option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted Average |
​ | ​ | Shares | ​ | Price |
​ | ​ | 2024 | ​ | 2023 | ​ | 2022 | ​ | 2024 | ​ | ​ | 2023 | ​ | 2022 |
Outstanding, January 1 |  | 5,000 | ​ | 10,000 |  | 15,000 |  | $ | 38.43 | ​ | $ | 38.43 |  | $ | 38.43 | ​
Granted |  | — | ​ | — |  | — | ​ | ​ | n/a | ​ | ​ | n/a | ​ | ​ | n/a | ​
Exercised |  | — | ​ | — |  | — | ​ | ​ | n/a | ​ | ​ | n/a | ​ | ​ | n/a | ​
Canceled |  | (5,000) | ​ | (5,000) |  | (5,000) | ​ | $ | 38.43 | ​ | $ | 38.43 | ​ | $ | 38.43 | ​
Outstanding, December 31 |  | — | ​ | 5,000 |  | 10,000 | ​ | ​ | n/a | ​ | $ | 38.43 | ​ | $ | 38.43 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable, December 31(1) |  | — | ​ | 5,000 |  | 10,000 | ​ | ​ | n/a | ​ | $ | 38.43 | ​ | $ | 38.43 | ​
(1) | Options exercisable at December 31, 2023 and 2022 had a weighted average remaining contractual life of approximately 0.2 years, and 0.7 years, respectively.

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6 + Details
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