LTC Properties Posts $1.89-Million Profit

LTC Properties Inc., an Oxnard-based real estate investment trust that invests in nursing homes, said it earned $1.89 million on revenue of $4.22 million in the three months that ended June 30.

The trust had no prior-year results because it began operations in late August, when it also completed its initial public stock offering. For the six months that ended June 30, LTC earned $3 million on revenue of $7.49 million.