LTC: Q1 Earnings Snapshot

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

The real estate investment trust, based in Westlake Village, California, said it had funds from operations of $27.2 million, or 66 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 $32.9 million, or 80 cents per share.

The real estate investment trust, based in Westlake Village, California, posted revenue of $49.5 million in the period. Its adjusted revenue was $31.7 million.

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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