LTC Properties, Inc. has reported a rise in its Funds from Operations (FFO) for the first quarter. The FFO jumped from $27.4 million last year to $27.5 million this year. The NARIET FFO also saw a surge to $29.9 million, equivalent to $0.69 per share, compared to last year's $27.2 million, or $0.66 per share.
However, the company's earnings fell from $33.1 million or $0.80 per share from the same quarter last year, to $24.2 million or $0.56 per share this year. Despite the dip in earnings, LTC Properties, Inc. outperformed the average estimates of analysts polled by Thomson Reuters, which predicted earnings of $0.53 per share.
The company also reported an uptick in revenue to $51.4 million this year, up from last year's $49.5 million.
