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Sunday, February 20, 2011

Earnings: National Health Investors up 20% NHI

National Health Investors (NYSE: NHI) announced today a 20 percent increase in its normalized funds from operations.

For the fourth quarter, NHI reported a Normalized FFO of $20 million, or 72 cents per basic share, compared to $16.7 million, or 60 cents per share, a year ago. The company reported Funds From Operations of $19.7 million, compared to $18.6 million for the year-ago quarter; and net income of $17 million, compared with $16.3 million in the year-ago quarter. Analysts, on average, had estimated earnings of 71 cents per share on an FFO of $20.1 million, according to Thomson Reuters.

Murfreesboro-based National Health Investors is a long-term health care real estate investment trust based in Murfreesboro. Its portfolio includes skilled nursing facilities, assisted living facilities, independent living facilities, medical office buildings and an acute care hospital.

Fourth quarter 2010 Normalized FFO: $20 million
Fourth quarter 2009 Normalized FFO: $16.7 million
Fourth quarter 2010 net income: $17 million
Fourth quarter 2009 net income: $16.3 million

Market reaction: NHI released it’s earnings report before the market opened Thursday. Shares closed Wednesday at $46.25. The 52-week range for the stock is $33.50 to $49.

National Health Investors, Inc., a real estate investment trust (REIT), invests in health care properties, primarily in the long-term care industry in the United States. As of December 31, 2008, it had investments in real estate assets and mortgage notes receivable investments in 123 health care facilities consisting of 83 long-term care facilities, 1 acute care hospital, 4 medical office buildings, 14 assisted living facilities, 4 retirement centers, and 17 residential projects for the developmentally disabled in 17 states. The company has elected to be treated as a REIT for federal income tax purposes and would not be subject to federal income tax, if it distributes at least 90% of its REIT taxable income to its shareholders. National Health Investors, Inc. was founded in 1991 and is based in Murfreesboro, Tennessee.

Disclosure I am long NHI shares.

1 comment:

  1. Excellent post on national health. Healthcare is still a great area to be in.