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LTC Properties, Inc (LTC) has reported 8.33 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $21.51 million, or $0.54 a share in the quarter, compared with $19.86 million, or $0.53 a share for the same period last year. Revenue during the quarter grew 10.41 percent to $42.62 million from $38.60 million in the previous year period.
Total expenses were $21.55 million for the quarter, up 13.33 percent or $2.54 million from year-ago period. Operating margin for the quarter contracted 131 basis points over the previous year period to 49.43 percent.
Operating income for the quarter was $21.07 million, compared with $19.59 million in the previous year period.
Revenue from real estate activities during the quarter increased 8.65 percent or $3.33 million to $41.78 million.
Income from operating leases during the quarter rose 9.90 percent or $3.15 million to $35.04 million.
Other income during the quarter was $0.84 million, up 474.66 percent or $0.69 million from year-ago period.
Total assets grew 5.52 percent or $72.74 million to $1,391.59 million on Mar. 31, 2017. On the other hand, total liabilities were at $638.45 million as on Mar. 31, 2017, down 1.19 percent or $7.71 million from year-ago.
Return on assets moved up 4 basis points to 1.55 percent in the quarter. At the same time, return on equity moved down 9 basis points to 2.84 percent in the quarter.
Debt comes down marginally
Total debt was at $597.87 million as on Mar. 31, 2017, down 1.71 percent or $10.38 million from year-ago. Shareholders equity stood at $753.14 million as on Mar. 31, 2017, up 11.96 percent or $80.45 million from year-ago. As a result, debt to equity ratio went down 11 basis points to 0.79 percent in the quarter.
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