LTC Properties Q1 Profit Increases, beats estimates

(RTTNews) - LTC Properties (LTC) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $14.3 million, or $0.36 per share. This compares with $13.6 million, or $0.35 per share, in last year's first quarter.

Excluding items, LTC Properties reported adjusted earnings of $23.6 million or $0.60 per share for the period.

Analysts on average had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.2% to $40.8 million from $40.3 million last year.

LTC Properties earnings at a glance (GAAP) :

-Earnings (Q1): $14.3 Mln. vs. $13.6 Mln. last year. -EPS (Q1): $0.36 vs. $0.35 last year. -Analyst Estimate: $0.38 -Revenue (Q1): $40.8 Mln vs. $40.3 Mln last year.