LTC Properties, Inc (LTC) has reported a 14.07 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $22.41 million, or $0.57 a share in the quarter, compared with $19.65 million, or $0.52 a share for the same period last year.
Revenue during the quarter grew 16.88 percent to $40.84 million from $34.94 million in the previous year period.
Total expenses were $20.50 million for the quarter, up 28.37 percent or $4.53 million from year-ago period. Operating margin for the quarter contracted 449 basis points over the previous year period to 49.81 percent.
Operating income for the quarter was $20.34 million, compared with $18.97 million in the previous year period.
Revenue from real estate activities during the quarter increased 17.50 percent or $6.06 million to $40.71 million.
Income from operating leases during the quarter rose 18.30 percent or $5.22 million to $33.75 million.
Revenue from other real estate activities during the quarter was $6.96 million, up 13.75 percent or $0.84 million from year-ago period.
Other income during the quarter was $0.13 million, down 55.59 percent or $0.16 million from year-ago period.
Net receivables were at $12.63 million as on Sep. 30, 2016, up 126.64 percent or $7.06 million from year-ago.
Real estate investments stood at $23.93 million as on Sep. 30, 2016, up 13.19 percent or $2.79 million from year-ago. Investments stood at $234.35 million as on Sep. 30, 2016, up 14.61 percent or $29.87 million from year-ago.
Total assets grew 12.86 percent or $156.47 million to $1,373.39 million on Sep. 30, 2016. On the other hand, total liabilities were at $632.76 million as on Sep. 30, 2016, up 13.86 percent or $77.05 million from year-ago.
Return on assets moved down 34 basis points to 1.63 percent in the quarter. At the same time, return on equity moved up 18 basis points to 3.01 percent in the quarter.
Debt moves up
Total debt was at $589.26 million as on Sep. 30, 2016, up 13.76 percent or $71.29 million from year-ago. Shareholders equity stood at $740.63 million as on Sep. 30, 2016, up 12.01 percent or $79.42 million from year-ago. As a result, debt to equity ratio went up 1 basis points to 0.80 percent in the quarter.
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