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                                  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: October 23, 2003
                        (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)





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Item 12. -- Results of Operations and Financial Condition

On October 23, 2003, LTC Properties, Inc. made its third quarter earnings
announcement. A copy of the press release is furnished as Exhibit 99.1 to this
Form 8-K and is incorporated herein by reference. Such information shall not be
deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended, and is not incorporated by reference into any filing of the
company, whether made before or after the date hereof, regardless of any general
incorporation language in such filing.



                                    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:  October 23, 2003             By:  /s/  WENDY L. SIMPSON
                                       ---------------------
                                       Wendy L. Simpson
                                       Vice Chairman and Chief Financial Officer







                                  EXHIBIT INDEX

Exhibit 99.1 Press Release issued October 23, 2003.