National Health Investors ( (NHI) ) has released its Q3 earnings. Here is a breakdown of the information National Health Investors presented to its investors.
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National Health Investors, Inc. (NHI) operates as a real estate investment trust focusing on senior housing and medical investments across various property types, including independent living, assisted living, and medical facilities.
In its third quarter 2024 report, NHI disclosed a slight decline in net income per diluted share compared to the previous year, while its portfolio showed growth in occupancy rates and operating income, particularly in its Senior Housing Operating Portfolio. The company also highlighted significant new investments and strategic transitions of certain properties due to tenant liquidity issues.
Key metrics from the report include a decrease in net income per diluted share to $0.65 for the quarter and $2.17 for the nine months, compared to $0.68 and $2.39 in the previous year, respectively. While NAREIT FFO per share showed a slight decrease for the quarter, it increased slightly for the nine months. The SHOP segment saw a notable increase in operating income, reflecting improved occupancy rates. The company also engaged in key acquisitions, including ten assisted living and memory care communities in North Carolina, and initiated foreclosure proceedings against certain non-performing loans.
NHI updated its 2024 annual guidance, adjusting expectations for FFO and FAD due to lower cash lease revenue and increased credit loss reserves, but noted potential recovery from recent acquisitions. The company maintains strong liquidity and a robust pipeline of future investments.
Looking ahead, NHI remains optimistic about its growth potential, supported by strategic investments and improved portfolio fundamentals. The company aims to address short-term challenges while leveraging its strong financial position to pursue further opportunities in the senior housing market.
