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NEWPORT BEACH, CA-Health Care Property Investors Inc. earnings rose to nearly $38.7 million, or 61 cents per diluted share of common stock on increased revenue of almost $103 million for the third quarter ended Sept. 30, the real estate investment trust reported Monday.

The REITs net was up from $31 million and 53 cents per share in the comparable quarter last year, when revenue was $89.4 million.

Funds From Operations (FFO) for the quarter totaled $53.5 million, compared with $50.8 million for the third quarter last year. On a per-share basis, FFO dipped to 84 cents versus 87 cents.

The company completed the $163.5 million acquisition of four continuing care retirement communities from American Retirement Corp. during the quarter. HCPI invests directly or through joint ventures in health care facilities. As of Sept. 30, its portfolio included 446 properties in 43 states, consisting of 31 hospitals, 175 long-term care facilities, 124 retirement and assisted living facilities, 85 medical office buildings and 31 other health care properties.

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