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Published: Wednesday, 10/16/2002

Health Care REIT posts increase

Health Care REIT, Inc., reported yesterday a third-quarter profit of $16.9 million, or 43 cents a share, up 24 percent from $13.6 million, or 41 cents a share, in the same period a year ago.

The Toledo-based real-estate investment trust said its revenues were $42.4 million last quarter, up 27 percent from $33.4 million a year ago. The firm said its funds from operations (a measure that includes depreciation) totaled $26.7 million in the quarter, up from $20.1 million a year earlier.

The company declared a dividend of 58.5 cents a share, payable Nov. 20 to holders of record Oct. 31.

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