This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

NHI Announces First Quarter 2014 Results

National Health Investors, Inc. (NYSE:NHI) announced today its Normalized Adjusted Funds From Operations (“AFFO”), its Normalized Funds From Operations (“FFO”), its Normalized Funds Available for Distribution ("FAD") and net income attributable to common stockholders for the three months ended March 31, 2014.

Q1 2014 Highlights

  • Normalized AFFO per diluted common share increased by 13.4% over the same quarter in 2013
  • Acquired $42 million portfolio at an initial lease rate of 8.4%
  • Issued $200 million of 3.25% senior unsecured convertible notes due April 2021
  • Increased senior unsecured credit facilities to $700 million

Financial Results

  • Normalized AFFO for the three months ended March 31, 2014, was $30,859,000 or $0.93 per diluted common share, compared with $22,907,000 or $0.82 per diluted common share for the same period in 2013, an increase of 13.4%.
  • Normalized FFO for the three months ended March 31, 2014, was $34,669,000, or $1.05 per diluted common share, compared with $24,108,000, or $0.86 per diluted common share, for the same period in 2013, an increase of 22.1%.
  • Normalized FAD for the three months ended March 31, 2014, was $32,208,000 or $0.97 per diluted common share, compared with $24,487,000 or $0.88 per diluted common share for the same period in 2013, an increase of 10.2%.
  • FFO for the three months ended March 31, 2014, was $32,524,000, or $0.98 per diluted common share, compared with $20,071,000, or $0.72 per diluted common share, for the same period in 2013.
  • Net income attributable to common stockholders for the three months ended March 31, 2014, was $23,533,000, or $0.71 per diluted common share, compared with $15,743,000, or $0.56 per diluted common share, for the same period in 2013.

Normalized FFO, Normalized AFFO and Normalized FAD for the quarter ended March 31, 2014 exclude $2,145,000 of debt issuance costs written off as a result of modifications and amendments to our unsecured credit facility. See our Form 8-K dated May 5, 2014 which describes changes to these previously reported metrics as a result of our revised interpretation of the NAREIT definition of FFO.

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,644.61 -235.75 -1.40%
S&P 500 1,940.46 -29.61 -1.50%
NASDAQ 4,381.3110 -81.5910 -1.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs