Tuesday, Sep 27, 2016
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Profit, revenues rise for Health Care REIT

Profits and revenues rose last year for Health Care REIT Inc., but the Toledo firm had a big drop in profit in the fourth quarter.

Its financial report released after the stock market closed yesterday showed a profit of $102.8 million, or $1.31 a share, on revenues of $322.8 million, compared with a profit of $84.3 million, or $1.15 a share, on revenues of $273.5 million a year earlier.

For the fourth quarter, the firm said it earned $23 million, or 27 cents a share, on revenues of $87.8 million, compared with $31.9 million, or 47 cents a share, on revenues of $76 million for the period a year earlier.

The company said it had $418 million in net new investments in health-care related facilities nationally and is positioned well for this year.

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