LTC earnings jump 14.7%
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.