Medical Properties, an Encino real estate investment trust that invests in hospitals and other medical facilities, said its fourth-quarter profit edged up 3% from a year earlier on a 5% gain in revenue.
In the quarter that ended Dec. 31, Medical Properties’ net income rose to $515,000 from $498,000, while revenue increased to $1.38 million from $1.31 million. For the full year, the company’s profit rose 12% to $1.92 million from $1.71 million, and revenue climbed 24% to $5.42 million from $4.38 million.
Last month, Medical Properties agreed to be acquired for $23 million by a new company that also plans to buy four hospitals from Nu-Med, an Encino hospital operator that formed Medical Properties in 1986.
For detailed data and results of other companies, please see tables, Page 15.