WESTLAKE VILLAGE, Calif. (AP) _ LTC Properties Inc. (LTC) on Thursday reported a key measure of profitability in its fourth quarter.

The Westlake Village, California-based real estate investment trust said it had funds from operations of $32.4 million, or 81 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 $12.4 million, or 31 cents per share.

The real estate investment trust posted revenue of $46.5 million in the period. Its adjusted revenue was $38.2 million.

For the year, the company reported funds from operations of $122.7 million, or $3.08 per share. Revenue was reported as $152.8 million.

The company's shares have risen 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $48.87, a climb of slightly more than 6% in the last 12 months.

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

Automated Insights, source Associated Press News