LTC Properties Posts $1.89-Million Profit

LTC Properties Inc., an Oxnard-based real estate investment trust that invests in nursing homes, reported a profit of $1.89 million for the third quarter on revenue of $4.03 million.

The trust had no comparable prior-year results because it began operations in late August when it also completed its initial public stock offering. Last year from Aug. 25 to Sept. 30, LTC had a profit of $69,000 on revenue of $1.07 million.

For the latest nine months ended Sept. 30, LTC’s profit totaled $4.89 million on revenue of $11.5 million.