LTC Properties Reports Rise in Earnings, Revenue
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LTC Properties Inc., an Oxnard real estate investment trust that invests in health care facilities, reported sharp increases in earnings and revenue in the fourth quarter and for last year.
In the latest three months, LTC earned $1.95 million, nearly triple the $694,000 it earned a year earlier. Its revenue jumped to $4.32 million from $2.94 million.
For the year, the company had a profit of $6.85 million, an eightfold increase over the $763,000 in net income a year earlier.
Its 1993 revenue was $15.8 million, up from $4.01 million the previous year.
LTC said that in 1993 it invested $127 million in properties, more than half the $222 million in investments it has made since the trust was formed in August, 1992.
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