LTC Properties Q3 outcomes blended on rental earnings development, increased bills (NYSE:LTC)
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Dzmitry Dzemidovich/iStock by way of Getty Pictures
LTC Properties (NYSE:LTC) turned in Q3 funds from operations Thursday that failed to fulfill the common Wall Avenue estimate, although the REIT’s prime line determine got here in stronger than anticipated as its rental earnings grew in the course of the quarter.
Q3 FFO of $0.60 fell wanting the common analyst estimate of $0.64 however climbed from $0.45 within the year-ago interval.
Income of $43.5M, although, topped the consensus of $41.7M and superior from $37.5M a 12 months earlier than.
Rental earnings elevated to $31.59M from $29.32M in Q3 2021. Larger rental earnings was a results of lease obtained from transitioned portfolios, lease obtained from the acquisition of 4 expert nursing facilities, will increase in property tax income from a transitioned portfolio, and rental earnings from accomplished growth tasks.
Bills totaled $30.1M in contrast with $29.44M in Q3 of final 12 months. Provision for credit score losses was $795K vs. $68K a 12 months in the past.
Working earnings of $13.01M rose from $10.74M in Q3 2021.
Convention name on October 28 at 8:00 a.m. PT (11:00 a.m. ET).
Earlier, LTC Properties FFO of $0.60 misses by $0.04, income of $43.5M beats by $1.8M.
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