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LTC: Q1 Earnings Snapshot

WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — LTC Properties Inc. (LTC) on Wednesday reported a key measure of profitability in its first quarter.

The Westlake Village, California-based real estate investment trust said it had funds from operations of $33.7 million, or 69 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 $23.4 million, or 48 cents per share.

The real estate investment trust, based in Westlake Village, California, posted revenue of $95.4 million in the period. Its adjusted revenue was $26.3 million.

LTC 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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