LTC Properties Sees Increases in Revenues and Net Income for 2009

LTC Properties, Inc. (NYSE:LTC) announced operating results for fourth quarter and full year 2009 that showed full year net income allocable to common stockholders was $29.4 million or $1.27 per diluted share versus 2008 when net income allocable to common stockholders was $28.4 million or $1.24 per diluted share. Revenues for the twelve months ended December 31, 2009, were $69.9 million versus $69.4 million for the same period last year. LTC’s same store cash rental income, for properties owned for the year ended December 31, 2009 and 2008, increased $1.6 million due to rental increases provided for in existing lease agreements.   At December 31, 2009, LTC, a self-administered real estate investment trust (REIT), had investments in 98 skilled nursing properties, 104 assisted living properties and two schools in 29 states.

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