Health Care Property Posts Lower Earnings
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Health Care Property Investors Inc. reported that net income for the third quarter dropped 2.7% to $3.6 million from $3.7 million a year earlier.
The Costa Mesa-based real estate investment trust’s revenues for the period rose 33% to $10 million from $7.5 million in 1986.
For the first nine months of 1987, net income totaled $10.4 million, an increase of 13% from $9.2 million in 1986. Revenues jumped 49% to $29.1 million from $19.5 million.
HCPI invests directly or through joint ventures in health care-related facilities.
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