National Health Investors(US:NHI)2020-05-12 11:58Portfolio Overview - NHI's portfolio consists of 242 properties with 37 operating partners across 34 states as of May 11, 2020[3,12] - Senior housing constitutes 69% of the portfolio, split between need-driven (34%) and discretionary (35%) segments[12] - Medical facilities account for 29% of the portfolio, including skilled nursing, hospitals, and medical office buildings[12,13] Financial Performance (Q1 2020) - Total revenue reached $83076 thousand, with rental income contributing $76527 thousand[13,64] - Cash rental revenue amounted to $71350 thousand[13] - Normalized FFO per diluted share was $136, while normalized AFFO per diluted share was $129[31,65] Capital Structure - Total debt stood at $1548904 thousand, with secured debt comprising $138778 thousand[31,40,62] - The company maintains a low leverage balance sheet and targets a 60/40 equity/debt funding mix[22] - Net debt to adjusted EBITDA was 47x[31,66] Investments - Recent lease activity includes Autumn Trace SHO with a 725% yield and Life Care Services EFC with a 675% yield[28] - Recent loan origination includes Timber Ridge OpCo with a 600% yield[28] - The company focuses on growing with its 37 operating partners and select new customers[22]