iREIT+HOYA Capital is the premier income-focused investing service on Seeking Alpha. Our focus is on income-producing asset classes that offer the opportunity for sustainable portfolio income , diversification , and inflation hedging . Get started with a Free Two-Week Trial and take a look at our top ideas across our exclusive income-focused portfolios.This holiday season, beyond health, family, and friends, I’m thankful for growth stocks because, without growth stocks, there wouldn’t be value to be had in ...

Financial Data and Key Metrics - Net income per diluted common share for Q3 2024 was $0.65, down from $0.68 in the same period last year [25] - NAREIT and normalized FFO per diluted common share decreased 4.6% to $1.03 compared to the prior year's third quarter [26] - FAD for the quarter increased 2.5% to $49.4 million from $48.2 million in the prior year's third quarter [26] - SHOP NOI increased 30.4% year-over-year and 2.5% sequentially to $3 million [22] - SHOP occupancy improved to 88.6% from 79% year-over-year, contributing to a 320 basis points margin expansion to 22% [23] Business Line Data and Key Metrics - Senior Living Management (SLM) ceased lease and interest payments, leading to a $1 million reduction in lease and interest payments [27] - Bickford's EBITDARM coverage improved to 1.72x, up from 1.45x in Q2 2024 [16] - Bickford's occupancy improved by 80 basis points sequentially to 86.2% [17] - The SNF portfolio reported EBITDARM coverage of 3.04x, up from 2.97x in the previous quarter [22] - The discretionary senior housing portfolio, including entrance fee properties, had EBITDARM coverage of 1.64x, up from 1.6x in the previous quarter [21] Market Data and Key Metrics - SHOP occupancy improved by 160 basis points sequentially, reaching 89.1% by the end of September [23] - Resident fees increased by 11.4% year-over-year, driven by occupancy improvements [23] - The company expects to reduce move-in incentives as occupancy approaches 90%, leading to margin improvements [24] Company Strategy and Industry Competition - The company closed $205 million in investments year-to-date at an average initial yield of 8.4%, including a $121 million acquisition of the Spring Arbor portfolio [7] - The company has a pipeline of $1.9 billion in investment opportunities, with $59.8 million in board-approved deals expected to close this year or early next year [7] - The company is pursuing large portfolios, including SHOP and skilled nursing deals, not included in the pipeline numbers [8] - The company's cost of capital has improved significantly over the last 12 months, supported by industry fundamentals and reduced portfolio optimization noise [8] - The company sees tailwinds from low inventory growth (1%) and new starts at the lowest level since 2010, along with demographic trends [9] Management Commentary on Operating Environment and Future Outlook - Management is optimistic about the future, citing strong financial positioning and multi-faceted growth opportunities [9] - The company expects to recapture a significant portion of lost NOI from SLM transitions by 2025 [20] - Management tightened SHOP NOI growth guidance to 28%-30%, up from 25%-30% [24] - The company is monitoring the long-term bond market in 2025, given its reliance on the revolving credit facility for liquidity [32] Other Important Information - The company completed a $189 million equity offering, with $65 million in future proceeds available [29] - The company amended its $700 million revolving credit facility, extending the maturity to October 2028 [31] - The company declared a $0.90 per share dividend for shareholders of record December 31, 2024 [34] - Chairman Andy Adams will retire effective December 31, 2024 [11] Q&A Session Summary Question: Thoughts on PACS and NHI's coverage post-transition - PACS is a smaller customer, with less than 3% of revenue, and half of that related to assisted living [38] - EBITDARM coverage for PACS properties is over 2x, based on prior operator performance [38] - The company is monitoring PACS closely but sees no immediate concerns [39] Question: Expected yields and mix in the investment pipeline - The pipeline includes debt, triple net lease, and SHOP deals, with expected yields of 8% or more [41] - SHOP yields may compress slightly as the market becomes more competitive [41] Question: Recovery expectations for SLM-related NOI - The company expects to recover normal rent levels by the second half of 2025 [47] - Two properties are cash-flowing and expected to return to full rent by early 2025 [49] - One property is expected to sell within 30-60 days, with interest accruing post-sale [50] Question: Impact of the election on healthcare and labor costs - Management is cautiously optimistic about the regulatory environment under the new administration [55] - Labor costs have stabilized, with no expected retrenchment in employment rates [60] Question: Board updates and state-level election impacts - The company is finalizing a new independent board member, to be presented in the next proxy season [63] - State-level subsidy programs for skilled nursing operators are being closely monitored [65] Question: Investment pace and overhead - The company expects to close $200-$400 million in investments annually, with potential for higher volumes if cost of capital remains attractive [69] - The company recently hired a Senior Vice President of Legal Affairs to support increased deal activity [70] Question: SHOP NOI growth and rate increases - The company expects to reduce incentives as occupancy stabilizes above 90%, leading to margin improvements [72] - Rate increases are expected to flow through to the bottom line by early to mid-2025 [72] Question: SHOP strategy and length of stay trends - The company's strategy of using pricing to drive occupancy has been successful, with nearly half of buildings reaching 90% occupancy [76] - Length of stay has stabilized but remains below pre-pandemic levels, influencing pricing decisions [79] Question: Medicare Advantage and SNF exposure - Management is cautiously optimistic about potential rate increases and a favorable regulatory environment under the new administration [81]

National Health Investors Q3 2024 Supplemental ONAL HEALTH INVEST TABLE OF CONTENTS | --- | --- | |-------------------------------------|-------| | | | | COMPANY | | | COMPANY INFORMATION & LEADERSHIP | 02 | | PORTFOLIO | | | PORTFOLIO OVERVIEW | 03 | | REAL ESTATE INVESTMENTS | 04 | | SENIOR HOUSING OPERATING PORTFOLIO | 05 | | OPERATING PARTNERS | 06 | | EBITDARM LEASE COVERAGE & OCCUPANCY | 07 | | PURCHASE OPTIONS & LEASE MATURITIES | 08 | | INVESTMENTS | | | INVESTMENT RATIONALE | 09 | | RECENT INVESTME ...

For the quarter ended September 2024, National Health Investors (NHI) reported revenue of $82.94 million, up 3.5% over the same period last year. EPS came in at $1.03, compared to $0.68 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $80.7 million, representing a surprise of +2.78%. The company delivered an EPS surprise of -3.74%, with the consensus EPS estimate being $1.07.While investors closely watch year-over-year changes in headline numbers -- revenue and earnin ...

National Health Investors (NHI) came out with quarterly funds from operations (FFO) of $1.03 per share, missing the Zacks Consensus Estimate of $1.07 per share. This compares to FFO of $1.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -3.74%. A quarter ago, it was expected that this health care real estate investment trust would post FFO of $1.10 per share when it actually produced FFO of $1.18, delivering a surprise of 7.27%.O ...

Exhibit 99.1 Contact: John L. Spaid, Chief Financial Officer Phone: (615) 890-9100 NHI Announces Third Quarter 2024 Results MURFREESBORO, Tenn. – (Tuesday, November 5, 2024) National Health Investors, Inc. (NYSE:NHI) announced today its results for the three and nine months ended September 30, 2024. Financial Results and Recent Events • Net income attributable to common stockholders per diluted common share for the three months ended September 30, 2024 was $0.65 compared to $0.68 during the same period in t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number 001-10822 National Health Investors, Inc. (Exact name of registrant as specified in its charter) Maryla ...

National Health Investors (NHI) has been on a downward spiral lately with significant selling pressure. After declining 10.2% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier. How to Determine if a Stock is Oversold We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spottin ...

iREIT+HOYA Capital is the premier income-focused investing service on Seeking Alpha. Our focus is on income-producing asset classes that offer the opportunity for sustainable portfolio income , diversification , and inflation hedging . Get started with a Free Two-Week Trial and take a look at our top ideas across our exclusive income-focused portfolios. There is often a debate between whether rental properties or REITs are better for investors. To be sure, there are distinct advantages when it comes to rent ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...