Medical Properties Quarterly Profit Off 16%

Medical Properties Inc., an Encino real estate investment trust that invests in health-care properties, said its fourth-quarter profit fell 16% from a year earlier, to $434,000 from $515,000.

Lower rental income from its properties and higher operating expenses were responsible for the lower earnings, the company said. Its revenue in the quarter ended Dec. 31 slipped to $1.36 million from $1.38 million.

For all of 1989, Medical Properties’ net income declined to $1.90 million from $1.92 million, while its annual revenue increased to $5.43 million from $5.42 million.