Thursday, LTC Properties, Inc. (LTC) announced a decline in second quarter net income compared to the prior year. Funds From Operations declined from the previous year.
The company reported a quarterly net income available to common shareholders of $7.530 million, compared to $8.609 million in the prior year. Earnings per share came in at $0.33, down from $0.36 last year.
Funds From Operations available to common stockholders was $11.566 million compared to $12.819 million in the previous year. Funds From Operations per share available to common shareholders declined to $0.49 from $0.53 last year.
Revenue for the second quarter was $17.851 million, compared to $19.793 million in the prior year.
For the first six-month period, net income available to common stockholders decreased to $15.819 million from $16.755 million in the prior year. FFO available to common stock holders were down at $23.766 million compared to $24.701 million in the previous year. FFO per share slightly declined to $1.01 from $1.02 last year.
The company reported revenue of $35.7 million for the first six months compared to $38.5 million in the prior year.
LTC is currently trading at $28.56, down $0.40 or 1.38% on a volume of 31K shares.
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