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Jun 30, 2024
NHI Q2 2024 Earnings Report
NHI reported strong second quarter results, exceeding expectations and leading to an increased full-year guidance.
Key Takeaways
National Health Investors, Inc. (NHI) announced its Q2 2024 results, with net income per diluted share at $0.81, NAREIT FFO per diluted share at $1.18, and Normalized FFO per diluted share also at $1.18. The company is raising its full-year guidance based on strong quarterly results and visibility into the second half of the year.
Net income attributable to common stockholders per diluted common share was $0.81.
NAREIT FFO per diluted common share was $1.18.
Normalized FFO per diluted common share was $1.18.
Normalized FAD was $51.8 million.
NHI
NHI
NHI Revenue by Segment
Revenue by Segment
Interest income and other Revenue
CapyFin.com Forward Guidance
NHI is updating its 2024 annual guidance range.
Positive Outlook
- NAREIT FFO per diluted common share to a range of $4.50- $4.54 from $4.36 - $4.41
- Normalized FFO per diluted common share to a range of $4.52- $4.56 from $4.37 - $4.43
- Normalized FAD to a range of $200.1 million - $201.8 million from $196.7 million - $199.2 million
- SHOP NOI growth in a range of 25%-30% year over year
- Continued collection of deferred rents
Challenges Ahead
- Continued rent concessions, asset dispositions and loan repayments
- Continued fulfillment of existing commitments
- No incremental benefit from unidentified acquisitions
- Guidance range is based on several assumptions, many of which are outside the Company’s control and all of which are subject to change
- Guidance range may change if actual results vary from these assumptions