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

The real estate investment trust, based in Westlake Village, California, said it had funds from operations of $21.6 million, or 45 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 $10.9 million, or 28 cents per share.

The real estate investment trust posted revenue of $37.5 million in the period. Its adjusted revenue was $29.3 million.

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