WESTLAKE VILLAGE, Calif. (AP) _ LTC Properties Inc. (LTC) on Thursday 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 $30.5 million, or 78 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 $17.5 million, or 45 cents per share.
The real estate investment trust posted revenue of $46.3 million in the period. Its adjusted revenue was $37.8 million.
For the year, the company reported funds from operations of $94.6 million, or $2.41 per share. Revenue was reported as $126.1 million.
The company's shares have risen roughly 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.78, a drop of 17% 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
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