WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — LTC Properties Inc. (LTC) on Thursday reported a key measure of profitability in its fourth quarter.
The Westlake Village, California-based real estate investment trust said it had funds from operations of $29.2 million, or 72 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $17.8 million, or 44 cents per share.
The real estate investment trust posted revenue of $47.8 million in the period. Its adjusted revenue was $34.7 million.
For the year, the company reported funds from operations of $102.5 million, or $2.56 per share. Revenue was reported as $128.2 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LTC at https://www.zacks.com/ap/LTC
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
