National Health Investors Q3 normalized FFO per share falls; net income up on gain from NHC portfolio sale

Overview

• US healthcare REIT's Q3 normalized FFO per share fell 15% year-over-year

• Net income surged on large gain from NHC portfolio sale

• Company completed significant acquisitions and dispositions during the quarter

Outlook

• Company expects 2026 NAREIT FFO per diluted share of $4.68 to $4.70

• Company projects 2026 FAD attributable to common stockholders of $236.6 mln to $237.7 mln

• Company expects 2026 same store SHOP NOI growth of 1% to 3% on 15 properties

Result Drivers

• SHOP SEGMENT ACQUISITIONS - Co said higher resident fees and services were mainly driven by acquisition of 20 properties in the SHOP segment since Q4 2025

• PROPERTY DISPOSITIONS - Rental income fell due to sale of 42 properties and transition of seven properties to SHOP segment

• HIGHER EXPENSES - General and administrative costs rose, mainly from increased compensation and professional fees

Company press release: ID:nPnbCCW67a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy"

• Wall Street's median 12-month price target for National Health Investors, Inc. is $80.00, about 12.3% above its November 9 closing price of $71.23

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 22 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)