National Health Investors(US:NHI)2020-11-10 19:41Portfolio Overview - As of November 6, 2020, National Health Investors (NHI) had a diversified portfolio comprising 242 properties with 37 operating partners across 34 states[11] - The portfolio includes 162 senior housing properties, 75 skilled nursing facilities, 3 hospitals, and 2 medical office buildings[11] - Senior Housing Need-Driven accounts for 32%, Senior Housing Discretionary accounts for 37%, and Medical accounts for 30% of the portfolio[11] Financial Performance - Total revenue for Q3 2020 was $84.301 million, compared to $81.682 million in Q3 2019[27] - Rental revenue (GAAP) for Q3 2020 was $77.821 million, compared to $75.247 million in Q3 2019[27] - Normalized FFO per diluted common share was $1.42 in Q3 2020, the same as in Q3 2019[27] - Normalized AFFO per diluted common share was $1.34 in Q3 2020, compared to $1.32 in Q3 2019[27] Capitalization and Debt - Total debt as of Q3 2020 was $1.528968 billion[27] - Net debt to adjusted EBITDA (annualized) was 4.8x[27] - Net debt as a percentage of market capitalization was 35.5%[27] - Secured debt accounted for 3.7% of gross assets[27] Lease Maturities - Lease maturities for 2020 totaled $2.594 million, comprising $2.239 million in Senior Housing (SHO) and $355 thousand in Other[20] - Lease maturities for 2029 totaled $70.665 million, comprising $57.047 million in Senior Housing (SHO) and $13.618 million in Skilled Nursing Facilities (SNF)[20] Investment Strategy - NHI focuses on growing with its 37 operating partners and select new customers[21] - The company emphasizes private pay senior housing properties and best-in-class SNF operators[21]