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LTC PROPERTIES INC Director's Dealing 2004

May 12, 2004

31826_dirs_2004-05-12_dbd5bc3c-98fc-481e-bfb4-fbe36dd47bf3.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2004-05-10

Reporting Person: ISHIKAWA CHRISTOPHER (Former officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-10	Common Stock	S	15000	$15.45	Disposed	205899	Direct
2004-05-10	Common Stock	S	5000	$15.49	Disposed	200899	Direct
2004-05-10	Common Stock	S	40000	$15.50	Disposed	160899	Direct
2004-05-10	Common Stock	S	10000	$15.51	Disposed	150899	Direct
2004-05-10	Common Stock	S	15000	$15.53	Disposed	135899	Direct
2004-05-10	Common Stock	S	38899	$15.55	Disposed	97000	Direct
2004-05-10	Common Stock	S	10000	$15.60	Disposed	87000	Direct
2004-05-10	Common Stock	S	1300	$15.70	Disposed	85700	Direct
2004-05-10	Common Stock	S	5000	$15.76	Disposed	80700	Direct
2004-05-11	Common Stock	S	13300	$15.41	Disposed	67400	Direct
2004-05-11	Common Stock	S	17100	$15.42	Disposed	50300	Direct
2004-05-11	Common Stock	S	5000	$15.45	Disposed	45300	Direct
2004-05-11	Common Stock	S	2400	$15.46	Disposed	42900	Direct
2004-05-11	Common Stock	S	4600	$15.47	Disposed	38300	Direct
2004-05-11	Common Stock	S	14600	$15.50	Disposed	23700	Direct
2004-05-11	Common Stock	S	2000	$15.51	Disposed	21700	Direct
2004-05-11	Common Stock	S	8000	$15.52	Disposed	13700	Direct
2004-05-11	Common Stock	S	1600	$15.55	Disposed	12100	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3382.0000	Indirect