LTC PROPERTIES INC — Director's Dealing 2007

May 17, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2007-05-15

Reporting Person: KING EDMUND (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-15	Common Stock	A	1000	$23.79	Acquired	52974	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-15	Stock Options	$23.79	A	3333	Acquired	2015-05-15	Common Stock (3333)	Direct
2007-05-15	Stock Options	$23.79	A	3333	Acquired	2016-05-15	Common Stock (3333)	Direct
2007-05-15	Stock Options	$23.79	A	3334	Acquired	2017-05-15	Common Stock (3334)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1685	Indirect
Common Stock	13709	Indirect

Footnotes

F1: Company contribution/reinvestment of dividend held on shares held in deferred compensation trust. Individuals have no voting rights over such shares.

F2: Restricted stock grant. Shares vest equally over three years based on the reporting person's continued service as a Board Member of LTC at each vesting date.