Health Care Property Investors reported a 24% increase in net income to $13.2 million, or 50 cents per share, from $10.7 million, or 40 cents per share, for its second quarter ended June 30.
Revenues increased 12% to $25.4 million, and funds from operations rose 18% to $17.5 million.
For the six-month period, the Los Angeles-based real estate investment trust had earnings of $24.5 million, or 92 cents per share, a 14% increase from net income of $21.5 million, or 80 cents per share, in the year-ago period.
The company reported an 8% uptick in revenues, to $49 million, and a 10% increase in funds from operations, to $33.1 million.
The REIT attributed record earnings and funds from operations to improvements in rents, interest income and a $1 million gain from a settlement related to a partnership investment.
HCPI's portfolio of 177 facilities in 31 states includes 138 long-term-care and 14 congregate-care and assisted-living facilities, six acute-care and six freestanding rehabilitation hospitals, 11 medical office buildings, a psychiatric-care center and a physician clinic.