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LTC earnings jump 122%

By   /   Tuesday, May 8th, 2012  /   Comments Off on LTC earnings jump 122%

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[wikichart align=”right” ticker=”NYSE:LTC” showannotations=”true” livequote=”true” startdate=”08-11-2011″ enddate=”08-05-2012″ width=”300″ height=”245″]

Real estate investment trust LTC Properties reported $12 million in first-quarter profits, a 122 percent increase over the $5.4 million it earned a year ago. Per diluted share, the Westlake Village-based company earned 40 cents in the most recent quarter, compared to 20 cents in the first quarter of 2011.

The year-over-year earnings boost was a result of higher revenues resulting from acquisitions, LTC said, as well as a preferred stock redemption charge it recorded in the first quarter last year.

LTC specializes in owning and operating nursing homes and other health care-related properties around the U.S.

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