Quarterly Profits Fall 24% at Medical Properties Inc.

Medical Properties Inc., a real estate investment trust that invests in health-care facilities, said its second-quarter profit fell 24% from a year earlier on a 2% decline in revenue.

The Encino-based company said its net income fell to $413,000 from $541,000, while its revenue in the quarter that ended June 30 slipped to $1.33 million from $1.35 million. Medical Properties blamed the lower results on lower additional rental income and higher costs relative to last year.

For the first half of 1990, the company's profit fell 19% to $848,000 from $1.04 million, and its six-month revenue fell to $2.67 million from $2.74 million.

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