WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — LTC Properties Inc. (LTC) on Tuesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Westlake Village, California, said it had funds from operations of $33.5 million, or 70 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 net income of $101.6 million, or $2.11 per share.
The real estate investment trust, based in Westlake Village, California, posted revenue of $84.3 million in the period. Its adjusted revenue was $26.7 million.
For the year, the company reported funds from operations of $127.1 million. Revenue was reported as $116.2 million.
For the current quarter ending in March, LTC expects its per-share funds from operations to range from 66 cents to 68 cents.
The company expects full-year funds from operations in the range of $2.75 to $2.79 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LTC at https://www.zacks.com/ap/LTC
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