WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — LTC Properties Inc. (LTC) on Tuesday reported a key measure of profitability in its third quarter.
The Westlake Village, California-based real estate investment trust said it had funds from operations of $32 million, or 69 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 a loss of $20.1 million, or 44 cents per share.
The real estate investment trust, based in Westlake Village, California, posted revenue of $69.3 million in the period. Its adjusted revenue was $27.8 million.
For the current quarter ending in December, LTC expects its per-share funds from operations to range from 67 cents to 69 cents.
The company expects full-year funds from operations in the range of $2.69 to $2.71 per share.
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