The following is a summary of the National Health Investors, Inc. (NHI) Q2 2024 Earnings Call Transcript:
Financial Performance:
NHI reported a strong financial performance with an 11.4% increase in normalized FFO per share and a 16.1% increase in total dollar FAD compared to the second quarter of 2023.
Significant contributions to the financial results include a $2.5 million deferral repayment and the Bickford rent step up, which enhanced growth.
Revenue from investments closed year-to-date contributed to the strong performance, with a $32.1 million acquisition highlighting this activity.
Business Progress:
NHI has actively expanded its investment portfolio with $56.6 million in new investments at an average yield of 8.4% year-to-date.
Plans to continue acquisition growth particularly in senior housing assets and fee simple real estate, reflecting a strategic shift post-pandemic.
SHOP NOI increased by 39.9% year-over-year, driven primarily by occupancy improvements and revenue growth in the senior housing operating portfolio.
Opportunities:
NHI has sourced investment opportunities totaling more than $1.8 billion, with board approved, signed LOI investment opportunities of $155.4 million expected to close within the year.
The company is targeting senior housing assets and fee-simple real estate, anticipating significant cash flow growth.
Demographic trends continue to favor the senior housing market, presenting further growth opportunities.
Risks:
Despite strong quarter results, SHOP NOI was slightly below internal expectations due to minor occupancy fluctuations which could impact immediate cash flows.
More details: National Health Investors Inc IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
