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LTC earnings jump 14.7%

By   /   Friday, February 21st, 2014  /   Comments Off

LTC Properties’ fourth-quarter profits jumped 14.7 percent to $13.7 million, or 40 cents per diluted share, it said on Feb. 20.

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LTC Properties’ fourth-quarter profits jumped 14.7 percent to $13.7 million, or 40 cents per diluted share, it said on Feb. 20.

The Westlake Village-based real estate investment trust said the earnings boost was primarily due to higher mortgage originations, acquisitions and income from new developments. LTC’s funds from operations jumped 13.8 percent to $20 million. Total revenue for the quarter ended Dec. 31 was $28.6 million, compared to $24.1 million a year earlier.

The company invests in health care and nursing home properties around the country. Its assets increased 18 percent last year to $931.4 million.

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