LTC Properties, Inc (LTC) has reported a 15.11 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $20.67 million, or $0.53 a share in the quarter, compared with $17.95 million, or $0.48 a share for the same period last year.
Revenue during the quarter grew 12.70 percent to $42.14 million from $37.39 million in the previous year period.
Total expenses were $21.77 million for the quarter, up 7.26 percent or $1.47 million from year-ago period. Operating margin for the quarter expanded 262 basis points over the previous year period to 48.33 percent.
Operating income for the quarter was $20.37 million, compared with $17.09 million in the previous year period.
Revenue from real estate activities during the quarter increased 12.67 percent or $4.70 million to $41.80 million.
Income from operating leases during the quarter rose 13.22 percent or $4.07 million to $34.82 million.
Revenue from other real estate activities during the quarter was $6.97 million, up 9.97 percent or $0.63 million from year-ago period.
Other income during the quarter was $0.34 million, up 16.55 percent or $0.05 million from year-ago period.
Net receivables were at $26.11 million as on Dec. 31, 2016, up 301.88 percent or $19.61 million from year-ago.
Real estate investments stood at $25.22 million as on Dec. 31, 2016, up 4.90 percent or $1.18 million from year-ago. Investments stood at $229.80 million as on Dec. 31, 2016, up 5.64 percent or $12.27 million from year-ago.
Total assets grew 9.37 percent or $119.47 million to $1,394.90 million on Dec. 31, 2016. On the other hand, total liabilities were at $654.85 million as on Dec. 31, 2016, up 6.27 percent or $38.63 million from year-ago.
Return on assets moved down 130 basis points to 1.48 percent in the quarter. At the same time, return on equity moved up 7 basis points to 2.78 percent in the quarter.
Debt moves up
Total debt was at $609.39 million as on Dec. 31, 2016, up 6.56 percent or $37.52 million from year-ago. Shareholders equity stood at $740.05 million as on Dec. 31, 2016, up 12.26 percent or $80.85 million from year-ago. As a result, debt to equity ratio went down 4 basis points to 0.82 percent in the quarter.
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