LTC Properties Reports Rise in Revenues, Income

LTC Properties Inc. in Oxnard announced an increase in revenues and net income for the third quarter and nine months ended Sept. 30.

Revenues for the quarter increased by 55% to $14.29 million, from $9.23 million for the three months ended Sept. 30, 1995. Net income increased to $5.61 million or 29 cents per share, compared with $4.97 million or 27 cents per share for the same period a year earlier.

LTC is a real estate investment trust which invests in long-term care and other health-care facilities through mortgage loans, facility lease transactions and other investments.

As of Sept. 30, the company had investments in 250 skilled nursing facilities and 19 assisted-living residences in 30 states.

For the nine months ended Sept. 30, revenues were $39.57 million, versus $25.29 million for the same period in 1995, an increase of 56%.

Net income increased to $16.69 million or 88 cents per share for the nine months, compared with $14.88 million or 82 cents per share for the same period in 1995. The improved numbers resulted from approximately $233 million in investments completed since Sept. 30, 1995, company officials said.