LTC: 1Q Earnings Snapshot
WESTLAKE VILLAGE, Calif. (AP) _ LTC Properties Inc. (LTC) on Wednesday reported a key measure of profitability in its first quarter. The results missed Wall Street expectations.
The Westlake Village, California-based real estate investment trust said it had funds from operations of $29.8 million, or 75 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 76 cents per share.
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 $20.3 million, or 51 cents per share.