Health Care Property Investors Inc. said it posted a $12.97-million net income for 1986, its first full year of operation. In its seven months of operation in 1985, the Costa Mesa real estate investment trust reported a $5-million net.
Revenues for 1986 were $28.8 million, contrasted with $10 million in 1985.
The company, which owns all or part of 93 health care facilities in 26 states, said its fourth-quarter net income increased 73% to $3.8 million from $2.2 million in the previous fourth quarter. Revenue for the period more than doubled to $9.4 million from $4.4 million.
Kenneth B. Roath, president of HCPI, said a 90% increase in the investment portfolio and declining interest rates contributed to an increased cash flow from operations totaling $18.9 million last year, up from $6.7 million for the seven months of operation in 1985.
HCPI said its board of directors increased the quarterly cash dividend by 1 cent to 60 cents. Dividends for the year totaled $2.30 a share. The fourth-quarter dividend will be paid on Feb. 20 to shareholders of record as of the close of business on Feb. 2, the company said.