LTC Properties Inc. beat Wall Street expectations for the fourth quarter and had a record year in investments for 2015, but its shares barely moved.

The Westlake Village real estate investment trust in senior housing and nursing homes reported that in the fourth quarter ended Dec. 31, net income slid 10 percent to $18 million (48 cents a share) from $20 million (57 cents) for the year-ago period. Revenue rose 21 percent to of $37.4 million.

Funds from operations, a metric used by REITs to define cash flow, rose to $27.8 million (74 cents), a roughly 29 percent jump from the prior-year quarter.

Analysts on average expected FFO of 73 cents a share on revenue of $29.3 million, according to Thomson Financial Network.

The investment trust also reported 2015 was a record year in investments in which the company spent about $414 million on properties and development commitments.

In full-year revenue for the year ended Dec. 31, LTC reported a 14 percent jump to $136 million. Net income was $73.1 million ($1.94 a share), compared to $73.4 million ($1.99) for a year ago.

LTC shares dipped by less than 1 percent Monday to close at $43.12 on the New York Stock Exchange.