LTC Credits Doubled Earnings to Investments
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LTC Properties Inc., an Oxnard real estate investment trust with interests in long-term care and other health care facilities, said its third quarter and nine-month earnings more than doubled from a year earlier, a result of $180 million in investments completed in the past year.
In the quarter ended Sept. 30, LTC earned $4.58 million, up from net income of $1.89 million a year before. Its quarterly revenue rose 93%, to $7.78 million from $4.03 million.
For the latest nine months, LTC reported a profit of $10.9 million, while its revenue gained 70%, to $19.6 million. In the same period in 1993, it earned $4.89 million on revenue of $11.5 million.
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