Senior housing and health care real estate investment trust LTC Properties saw a 212 percent increase in net income for the financial first quarter because of property sales and higher rental and interest income, the company reported earlier this week.

Transactions completed during the first quarter included 21 skilled nursing centers across five states, the Westlake Village company’s Preferred Care portfolio, which sold for $72 million and delivered a net gain of $43.9 million.

LTC reported adjusted net income of $63.4 million ($1.60 a share) for the quarter, a large increase from $20.3 million (51 cents a share) in the first financial quarter of 2019. Revenue totaled $46.4 million for the quarter, a 30 percent boost compared to last year’s $35.8 million first quarter.

Analysts on average expected first quarter net income of 52 cents a share on revenue of $37.5 million, according to Thomson Financial Network.

Funds from Operations, a key metric for REITs, was $29.2 million compared to $29.9 million for the comparable 2019 period.

During the quarter, the company also acquired a 140-bed skilled nursing center in Texas for $13.5 million, completed construction of a 78-unit senior housing community in Oregon and bought 615,827 of its shares, at $29.25 per share as part of its stock repurchase plan.

LTC’s board decided to terminate the stock repurchase plan on March 25 in light of COVID-19, the company reported.

The company announced results Monday. Shares of LTC Properties (LTC) closed Thursday down 21 cents, or less than 1 percent, at $33.39 on the New York Stock Exchange.