MURFREESBORO, TN / ACCESSWIRE / August 8, 2022 / Nationwide Well being Buyers, Inc. (NYSE:NHI) introduced immediately its outcomes for the three and 6 months ended June 30, 2022.
Monetary Outcomes and Current Occasions
Internet revenue attributable to frequent stockholders per diluted frequent share for the three months ended June 30, 2022 was $0.47, in comparison with $0.85, throughout the identical interval within the prior 12 months. Internet revenue attributable to frequent stockholders per diluted frequent share for the six months ended June 30, 2022 was $0.66, in comparison with $1.63 throughout the identical interval within the prior 12 months.Nationwide Affiliation of Actual Property Funding Trusts (“NAREIT”) FFO per diluted frequent share for the three months ended June 30, 2022 was $0.71, in comparison with $1.16 throughout the identical interval within the prior 12 months. NAREIT FFO per diluted frequent share for the six months ended June 30, 2022 was $1.76, in comparison with $2.39 throughout the identical interval within the prior 12 months.Normalized FFO per diluted frequent share for the three months ended June 30, 2022 was $1.26, in comparison with $1.16 throughout the identical interval within the prior 12 months. Normalized FFO per diluted frequent share for the six months ended June 30, 2022 was $2.37, in comparison with $2.40 throughout the identical interval within the prior 12 months.Normalized FAD for the three months ended June 30, 2022 was $56.3 million, in comparison with $52.8 million, throughout the identical interval within the prior 12 months. Normalized FAD for the six months ended June 30, 2022 was $109.0 million, in comparison with $112.4 million throughout the identical interval within the prior 12 months.Throughout second quarter of 2022, NHI transformed Bickford Senior Dwelling (“Bickford”) to the money foundation of accounting for its 4 grasp lease agreements, and wrote off roughly $18.1 million of straight-line rents receivable and $7.1 million of lease incentives to rental revenue.Efficient April 1, 2022, NHI settled the excellent litigation in opposition to Welltower and its associated associates that resulted within the receipt of $6.9 million in beforehand escrowed money and termination of the grasp lease for 17 legacy Vacation unbiased dwelling services.Additionally, efficient April 1, 2022, NHI shaped a brand new Seniors Housing Working Portfolio (“SHOP”) reportable phase that’s comprised of the operations of 15 legacy Vacation unbiased dwelling services with a mixed 1,731 models operated in two separate ventures on behalf of the Firm by two unbiased managers. The ventures contributed roughly $2.9 million to NHI’s web working revenue (“NOI”) through the quarter.Accomplished the disposition of 10 underperforming senior housing properties for web proceeds of roughly $76.3 million through the second quarter. For the reason that second quarter of 2021 the Firm has accomplished the disposition of 31 senior housing properties for web proceeds of roughly $288.2 million with a cumulative EBITDARM protection of 0.50x.Repurchased roughly 1.2 million shares for $70 million below the Firm’s $240 million share repurchase authorization. Consequently, quarterly dividends declined by roughly $4.3 million on an annualized foundation.Diminished debt by roughly $145.0 million and reported web debt to Adjusted EBITDA of 4.0x for the second quarter of 2022 with no stability excellent on the $700 million revolver as of June 30, 2022.Outcomes for the three months ended June 30, 2022 in comparison with the identical interval within the prior 12 months had been impacted by the next:Rental revenue excluding the results of straight-line lease income and property taxes and insurance coverage on leased properties was roughly $9.3 million decrease primarily from the $7.1 million write off of Bickford’s lease incentives and asset tendencies accomplished for the reason that finish of the second quarter of 2021. Rental revenue consists of roughly $6.9 million associated to the beforehand disclosed litigation settlement with Welltower (NYSE: WELL);Curiosity revenue and different was roughly $1.9 million larger primarily from elevated dedication fundings on present new loans and the origination of latest loans for the reason that finish of the second quarter of 2021;The brand new SHOP actions contributed NOI of roughly $2.9 million comprised of revenues from resident charges and associated providers of $12.0 million and working bills of $9.1 million;Curiosity expense was roughly $2.0 million decrease, on account of the expiration of NHI’s rate of interest swap agreements on December 31, 2021 and the repayments of indebtedness, together with the payoffs of the convertible bond that matured in April 2021 and $250.0 million on time period loans;Common and administrative bills had been roughly $1.5 million larger;Positive factors from the gross sales of actual property belongings had been $10.5 million, representing a rise of $4.0 million;Mortgage and realty losses had been $4.1 million, representing a rise of $2.9 million;Depreciation expense was roughly $2.9 million decrease primarily from tendencies accomplished since July 1, 2021; andGain on word payoff of $1.1 million was acknowledged for the prepayment payment acquired from the early reimbursement of a $111.3 million mortgage word receivable within the second quarter of 2022.
Eric Mendelsohn, NHI President and CEO, acknowledged, “We’ve got achieved a lot of the portfolio optimization exercise that we’ve frequently communicated together with roughly $288.2 million of underperforming senior housing tendencies, restructuring of the Bickford lease, formation of our SHOP ventures, and issuing annual steerage in April of this 12 months.”
Mr. Mendelsohn continued, “Our second quarter GAAP outcomes had been impacted by our conversion of Bickford to money foundation accounting however had been in any other case in-line with expectations. We’ve got up to date our steerage which features a modest revision to FAD as our visibility continues to enhance with the portfolio optimization efforts largely full.”
Mr. Mendelsohn concluded, “Our focus now could be very a lot on returning to development. We’re in glorious monetary well being with leverage on the decrease finish of our focused vary which provides us vital capital to deploy with out the necessity to challenge fairness within the instant future.”
Portfolio Exercise
Asset Acquisition
On April 29, 2022, NHI acquired a 53-unit assisted dwelling facility situated in Oshkosh, Wisconsin, from Encore Senior Dwelling. The acquisition value was $13.3 million and included the complete fee of an impressive development word receivable to the Firm of $9.1 million, together with curiosity. The ability was added to an present grasp lease for a time period of 15 years at an preliminary lease fee of seven.25%, with an annual escalator of two.5%.
Asset Tendencies
Throughout the second quarter of 2022, NHI offered 11 properties with a web guide worth of roughly $85.1 million for web money proceeds of roughly $95.8 million. The next desk represents the true property property tendencies inside the Firm’s Actual Property Investments reportable phase via June 30, 2022 ($ in hundreds):
Operator
Date Properties
Asset Class
Internet Proceeds Internet Actual Property Funding Acquire/(Impairment)2
Hospital Company of America
Q1 2022 1
MOB
$4,868 $1,904 $2,964
Vitality Senior Living1
Q1 2022 1
SLC
8,302 8,285 17
Holiday1
Q2 2022 1
ILF
2,990 3,020 (30)
Chancellor Senior Living1
Q2 2022 2
ALF
7,305 7,357 (52)
Bickford1
Q2 2022 3
ALF
25,959 28,268 (2,309)
Consolation Care
Q2 2022 4
ALF
40,000 38,445 1,556
Helix Healthcare
Q2 2022 1
HOSP
19,500 10,535 8,965
$108,924 $97,814 $11,111
1 Complete impairment costs acknowledged on these properties had been $41.7 million. Impairment costs on these properties of $2.4 million had been acknowledged within the second quarter, of which $2.3 million associated to Bickford.
2 Impairments are included in “Mortgage and realty losses” within the Condensed Consolidated Statements of Revenue for the three and 6 months ended June 30, 2022.
The properties had been beforehand categorised as belongings held on the market on the Condensed Consolidated Steadiness Sheet. Rental revenue for the disposed properties was $0.6 million and $2.6 million for the three and 6 months ended June 30, 2022, respectively.
Concessions and Collections
Throughout the second quarter of 2022, NHI granted hire deferrals of roughly $3.9 million, together with $2.9 million in pandemic associated deferrals, to 5 senior housing operators. The Firm collected roughly 94.0% of contractual money due through the second quarter of 2022.
Occupancy
The next desk summarizes the typical portfolio occupancy for Senior Dwelling Communities (“SLC”), Bickford and SHOP for the durations indicated, excluding growth properties in operation lower than 24 months, notes receivable, and properties transitioned to new tenants or disposed.
Properties Jul-22 Jun-22 Might-22 Apr-22 Mar-22 Feb-22 Jan-22 Dec-21
SLC
9 83.4% 82.1% 82.4% 82.3% 81.8% 81.7% 81.7% 81.7%
Bickford1
38 84.5% 83.5% 82.6% 82.0% 82.0% 81.8% 83.2% 83.3%
SHOP2
15 77.1% 76.2% 76.2% 77.2% 76.8% 77.6% 78.6% 79.5%
Properties Nov-21 Oct-21 Sep-21 Aug-21 Jul-21 Jun-21 Might-21 Apr-21
SLC
9 81.9% 81.5% 80.9% 80.4% 80.0% 79.1% 78.6% 77.9%
Bickford1
38 83.9% 83.2% 82.3% 82.1% 81.1% 79.9% 78.8% 77.9%
SHOP2
15 81.3% 81.2% 81.0% 79.3% 79.1% 78.3% 77.8% 76.9%
1Prior durations restated to replicate the removing of 1 property that was transitioned to a brand new operator in March 2022.
2These properties had been leased pursuant to a triple-net grasp lease previous to Q2 2022.
Belongings Held for Sale & Impairments of Actual Property
At June 30, 2022, 13 properties in NHI’s Actual Property Investments reportable phase, with an combination web actual property stability of $56.7 million, had been categorised as belongings held on the market on the Condensed Consolidated Steadiness Sheet, together with 4 properties that had been transferred to belongings held on the market through the second quarter of 2022. Rental revenue related to the 13 properties was $1.0 million for each the three and 6 months ended June 30, 2022 and $1.6 million and $3.4 million for the three and 6 months ended June 30, 2021, respectively.
Steadiness Sheet and Liquidity
At July 31, 2022, NHI had no quantity excellent below the revolving credit score facility and roughly $51.0 million in company money and money equivalents. The Firm has roughly $415.7 million out there below the ATM program.
Share Repurchase Plan
Throughout the three months ended June 30, 2022, NHI repurchased via open market transactions 1,196,175 shares of its frequent inventory for a median value of $58.52 per share, together with commissions.
2022 Steerage
NHI has up to date its vary for 2022 annual steerage which was initially issued on April 18, 2022. A abstract of the replace consists of the next:
NAREIT FFO per diluted frequent share in a spread of $3.86 – $3.92 in comparison with $4.32 – $4.42 previouslyNormalized FFO per diluted frequent share in a spread of $4.48 – $4.53 in comparison with $4.38 – $4.48 previouslyNormalized Funds Out there for Distribution in a spread of $200.2 million – $203.0 million in comparison with $201.8 million – $206.4 million previouslyWeighted common diluted frequent shares of 45.2 million in comparison with 45.9 million beforehand
The Firm’s steerage vary for the complete 12 months 2022, with underlying assumptions and timing of sure transactions, is about forth beneath:
2022 Steerage Vary
(in hundreds of thousands besides per share quantities)
Low Excessive
Internet revenue attributable to frequent stockholders
$88.2 $90.0
Changes to NAREIT Funds From Operations (FFO)
Depreciation (web)1
69.9 70.1
Impairments of actual property web of features on gross sales
16.5 17.3
NAREIT FFO attributable to frequent stockholders
174.6 177.4
Changes to Normalized FFO (NFFO)
Portfolio transition prices, web
0.4 0.4
Loss on operations switch, net2
0.7 0.7
Other3
27.0 26.2
NFFO attributable to frequent stockholders
202.7 204.7
Changes to Funds Out there for Distribution (FAD)
Straight-line income (web)1 and lease incentive amortizations
(12.5) (11.9)
Fairness technique funding changes
(1.4) (1.4)
Fairness technique funding non-refundable charges acquired
1.1 1.3
8.6 8.6
SHOP and fairness technique funding recurring capital expenditures
(0.8) (0.8)
Other4
2.5 2.5
FAD attributable to frequent stockholders
$200.2 $203.0
Weighted common diluted frequent shares
45.2 45.2
NAREIT FFO per diluted frequent share
$3.86 $3.92
NFFO per diluted frequent share
$4.48 $4.53
1Net of quantities attributable to non-controlling pursuits
2Net loss on Vacation lease foreclosures primarily associated to working capital
3Includes non-cash write-off of straight-line hire receivable and lease incentives web of acquire on word payoff
4Includes word receivable credit score loss expense and debt amortizations
NHI’s 2022 annual steerage consists of the next assumptions:
Continued hire concessions, asset tendencies and mortgage repayments all through 2022;Roughly $52.6 million in funding funding of present commitments; andNo incremental profit from unidentified acquisitions or reimbursement of excellent deferral balances.
Along with the assumptions listed above, NHI’s steerage vary is predicated on a number of different assumptions, a lot of that are exterior the Firm’s management and all of that are topic to vary. The steerage vary might change if precise outcomes range from these assumptions.
Investor Convention Name and Webcast
NHI will host a convention name on Tuesday, August 9, 2022, at 12:00 p.m. ET, to debate second quarter outcomes. The quantity to name for this interactive teleconference is (800) 768-2107, with the affirmation quantity 22019452. The reside broadcast of NHI’s second quarter convention name can be out there on-line at www.nhireit.com. The web replay will observe shortly after the decision and stay out there for one 12 months.
About Nationwide Well being Buyers
Integrated in 1991, Nationwide Well being Buyers, Inc. (NYSE:NHI) is an actual property funding belief specializing in sale, leasebacks, joint-ventures, senior housing working partnerships, and mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI’s portfolio consists of unbiased dwelling, assisted dwelling and reminiscence care communities, entrance-fee retirement communities, expert nursing services, and specialty hospitals. For extra info, go to www.nhireit.com.
Reconciliation of FFO, Normalized FFO and Normalized FAD
($ in hundreds, besides share and per share quantities)
Three Months Ended Six Months Ended
June 30, June 30,
2022 2021 2022 2021
Internet revenue attributable to frequent stockholders
$21,673 $39,183 $30,073 $74,513
Elimination of sure non-cash objects in web revenue:
Depreciation
17,772 20,658 36,044 41,464
Depreciation associated to noncontrolling pursuits
(388) (210) (598) (420)
Positive factors on gross sales of actual property, web
(10,521) (6,484) (13,502) (6,484)
Impairments of actual property
4,141 – 28,745 –
NAREIT FFO attributable to frequent stockholders
32,677 53,147 80,762 109,073
Loss on operations switch, web
729 – 729 –
Portfolio transition prices, web of noncontrolling pursuits
329 – 329 –
Acquire on word payoff
(1,113) – (1,113) –
Loss on early retirement of debt
– – 151 451
Non-cash write-offs of straight-line receivable and lease incentives
25,208 – 27,681 –
Normalized FFO attributable to frequent stockholders
57,830 53,147 108,539 109,524
Straight-line lease income, web
(3,185) (4,150) (6,543) (8,391)
Straight-line lease income, web, associated to noncontrolling pursuits
35 21 57 45
Straight-line lease expense associated to fairness technique funding
(2) 21 (10) 45
Amortization of lease incentives
58 262 117 522
80 80 161 134
Amortization of debt issuance prices
529 588 1,091 1,294
Amortization associated to fairness technique funding
(169) 520 (407) 1,056
Be aware receivable credit score loss expense
(47) 1,221 (123) 1,171
Non-cash share-based compensation
1,428 992 6,511 6,438
Fairness technique funding capital expenditures
(105) (105) (210) (210)
Fairness technique funding non-refundable charges acquired
230 242 467 761
Fairness technique funding distributions
(273) – (569) –
Senior housing portfolio recurring capital expenditures
(130) – (130) –
Normalized FAD attributable to frequent stockholders
$56,279 $52,839 $108,951 $112,389
BASIC
Weighted common frequent shares excellent
45,708,238 45,850,599 45,779,433 45,577,843
NAREIT FFO attributable to frequent stockholders per share
$0.71 $1.16 $1.76 $2.39
Normalized FFO attributable to frequent stockholders per share
$1.27 $1.16 $2.37 $2.40
DILUTED
Weighted common frequent shares excellent
45,718,538 45,858,074 45,784,771 45,607,924
NAREIT FFO attributable to frequent stockholders per share
$0.71 $1.16 $1.76 $2.39
Normalized FFO attributable to frequent stockholders per share
$1.26 $1.16 $2.37 $2.40
The next desk reconciles NOI to web revenue, probably the most immediately comparable GAAP metric ($ in hundreds):
Three Months Ended Six Months Ended
June 30 June 30
NOI Reconciliations:
2022 2021 2022 2021
Internet revenue
$21,466 $39,231 $29,712 $74,613
(Positive factors) losses from fairness technique funding
(273) 909 (569) 1,718
Loss on early retirement of debt
– – 151 451
Acquire on word payoff
(1,113) – (1,113) –
Loss on operations switch, web
729 – 729 –
Positive factors on gross sales of actual property, web
(10,521) (6,484) (13,502) (6,484)
Mortgage and realty losses
4,094 1,221 28,622 1,171
Common and administrative
5,049 3,588 13,150 11,577
Franchise, excise and different taxes
225 232 469 465
Authorized
339 (40) 2,166 90
Curiosity
10,862 12,840 21,060 25,813
Depreciation
17,772 20,658 36,044 41,464
Consolidated web working revenue (NOI)
$48,629 $72,155 $116,919 $150,878
NOI by phase:
Actual Property Investments
$45,650 $72,094 $113,888 $150,740
SHOP
2,879 – 2,879 –
Non-Section/Company
100 61 152 138
Complete NOI
$48,629 $72,155 $116,919 $150,878
See Notes to Reconciliation of FFO, Normalized FFO, Normalized FAD and NOI.
Notes to Reconciliation of FFO, Normalized FFO, Normalized FAD and NOI
These supplemental efficiency measures might not be akin to equally titled measures utilized by different REITs. Consequently, our Funds From Operations (“FFO”), Normalized FFO and Normalized Funds Out there for Distribution (“FAD”) might not present a significant measure of our efficiency as in comparison with that of different REITs. Since different REITs might not use our definition of those efficiency measures, warning ought to be exercised when evaluating our FFO, Normalized FFO and Normalized FAD to that of different REITs. These monetary efficiency measures don’t symbolize money generated from working actions in accordance with usually accepted accounting ideas (“GAAP”) (these measures don’t embody adjustments in working belongings and liabilities) and due to this fact shouldn’t be thought of an alternative choice to web earnings as a sign of efficiency, or to web money movement from working actions as decided by GAAP as a measure of liquidity, and aren’t essentially indicative of money out there to fund money wants. Starting within the first quarter of 2021, the Firm is not presenting Adjusted Funds from Operations as a supplemental measure of working efficiency.
Funds From Operations – FFO
FFO, as outlined by NAREIT and utilized by us, is web revenue (computed in accordance with GAAP), excluding features (or losses) from gross sales of actual property property, plus actual property depreciation and amortization, and after changes for unconsolidated partnerships and joint ventures, if any. The Firm’s computation of FFO might not be akin to FFO reported by different REITs that don’t outline the time period in accordance with the present NAREIT definition or have a special interpretation of the present NAREIT definition from that of the Firm; due to this fact, warning ought to be exercised when evaluating our Firm’s FFO to that of different REITs. Diluted FFO assumes the train of inventory choices and different probably dilutive securities. Normalized FFO excludes from FFO sure objects which, as a consequence of their rare or unpredictable nature, might create some problem in evaluating FFO for the present interval to related prior durations, and will embody, however aren’t restricted to, impairment of non-real property belongings, features and losses attributable to the acquisition and disposition of belongings and liabilities, and recoveries of earlier write-downs.
FFO and Normalized FFO are vital supplemental measures of working efficiency for a REIT. As a result of the historic value accounting conference used for actual property belongings requires depreciation (besides on land), such accounting presentation implies that the worth of actual property belongings diminishes predictably over time. Since actual property values as an alternative have traditionally risen and fallen with market circumstances, displays of working outcomes for a REIT that makes use of historic value accounting for depreciation might be much less informative, and ought to be supplemented with a measure akin to FFO. The time period FFO was designed by the REIT trade to deal with this challenge.
Funds Out there for Distribution – FAD
Along with the changes included within the calculation of Normalized FFO, Normalized FAD excludes the influence of any straight-line hire income, amortization of the unique challenge low cost on our senior unsecured notes, amortization of debt issuance prices, non-cash inventory primarily based compensation, in addition to sure non-cash objects associated to our fairness technique funding.
Normalized FAD is a crucial supplemental efficiency measure for a REIT. GAAP requires a lessor to acknowledge contractual lease funds into revenue on a straight-line foundation over the anticipated time period of the lease. This straight-line adjustment has the impact of reporting lease revenue that’s considerably roughly than the contractual money flows acquired pursuant to the phrases of the lease settlement. GAAP additionally requires any low cost or premium associated to indebtedness and debt issuance prices to be amortized as non-cash changes to earnings. The Firm additionally adjusts Normalized FAD for the online change within the allowance for anticipated credit score losses, non-cash inventory primarily based compensation, senior housing portfolio capital expenditures in addition to sure non-cash objects associated to fairness technique investments akin to straight-line lease expense and amortization of buy accounting changes. Normalized FAD is a crucial supplemental measure of liquidity for a REIT as a helpful indicator of the flexibility to distribute dividends to stockholders.
Internet Working Revenue
Internet working revenue (“NOI”) is a U.S. non-GAAP supplemental monetary measure used to guage the working efficiency of actual property. NOI is outlined as whole revenues, much less tenant reimbursements and property working bills. The Firm believes NOI gives buyers related and helpful info because it measures the working efficiency of our properties on the property degree on an unleveraged foundation. The Firm makes use of NOI to make selections about useful resource allocations and to evaluate the property degree efficiency of our properties.
Chosen Steadiness Sheet Information
($ in hundreds)
June 30, 2022 December 31, 2021
(unaudited)
Actual property properties, web
$2,187,266 $2,317,880
Mortgage and different notes receivable, web
$204,277 $299,952
Money and money equivalents
$43,435 $37,412
Straight-line hire receivable
$79,697 $96,198
Belongings held on the market, web
$56,669 $66,398
Different belongings
$15,947 $21,036
Debt
$1,104,495 $1,242,883
Nationwide Well being Buyers Stockholders’ Fairness
$1,392,220 $1,507,083
This press launch consists of forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. All statements relating to the Firm’s, tenants’, operators’, debtors’ or managers’ anticipated future monetary place, outcomes of operations, money flows, funds from operations, dividend and dividend plans, financing alternatives and plans, capital market transactions, enterprise technique, budgets, projected prices, working metrics, capital expenditures, aggressive positions, acquisitions, funding alternatives, tendencies, acquisition integration, development alternatives, anticipated lease revenue, continued qualification as an actual property funding belief (“REIT”), plans and aims of administration for future operations, continued efficiency enhancements, potential to service and refinance our debt obligations, potential to finance development alternatives, and related statements together with, with out limitation, these containing phrases akin to “might”, “will”, “believes”, “anticipates”, “expects”, “intends”, “estimates”, “plans”, and different related expressions are forward-looking statements. Ahead-looking statements contain identified and unknown dangers and uncertainties that will trigger our precise ends in future durations to vary materially from these projected or contemplated within the forward-looking statements. Such dangers and uncertainties embody, amongst different issues; the influence of COVID-19 on our tenants, debtors, financial system and the Firm; our potential to retain our administration crew and different personnel and entice appropriate replacements ought to any such personnel depart; the working success of our tenants and debtors for assortment of our lease and curiosity revenue; the success of property growth and development actions, which can fail to realize the working outcomes we count on; the danger that our tenants and debtors might turn out to be topic to chapter or insolvency proceedings; dangers associated to the focus of a big proportion of our portfolio to a small variety of tenants; dangers associated to governmental rules and payors, principally Medicare and Medicaid, and the impact that decrease reimbursement charges would have on our tenants’ and debtors’ enterprise; the danger that the money flows of our tenants and debtors could be adversely affected by elevated legal responsibility claims and legal responsibility insurance coverage prices; dangers associated to environmental legal guidelines and the prices related to liabilities associated to hazardous substances; the danger of harm from catastrophic climate and different pure or man-made disasters and the bodily results of local weather change; the danger that we might not be totally indemnified by our lessees and debtors in opposition to future litigation; the success of our future acquisitions and investments; our potential to reinvest money in actual property investments in a well timed method and on acceptable phrases; the potential must incur extra debt sooner or later, which might not be out there on phrases acceptable to us; our potential to fulfill covenants associated to our indebtedness which impose sure operational limitations and a breach of these covenants might materially adversely have an effect on our monetary situation and outcomes of operations; the danger that the illiquidity of actual property investments might impede our potential to answer hostile adjustments within the efficiency of our properties; dangers related to our investments in unconsolidated entities, together with our lack of sole decision-making authority and our reliance on the monetary situation of different pursuits; operational dangers with respect to our proposed senior housing working portfolio (“SHOP”) structured communities; our dependence on revenues derived primarily from mounted fee investments in actual property belongings, whereas a portion of our debt bears curiosity at variable charges; the danger that our belongings could also be topic to impairment costs; dangers associated to our potential to take care of the privateness and safety of Firm info; and our dependence on the flexibility to proceed to qualify for taxation as an actual property funding belief. Many of those elements are past the management of the Firm and its administration. The Firm assumes no obligation to replace any of the foregoing or every other ahead wanting statements, besides as required by regulation, and these statements communicate solely as of the date on which they’re made. Buyers are urged to rigorously overview and think about the varied disclosures made by NHI in its periodic stories filed with the Securities and Alternate Fee, together with the danger elements and different info disclosed in NHI’s Annual Report on Kind 10-Okay for probably the most not too long ago ended fiscal 12 months and quarterly report on Kind 10-Q for probably the most not too long ago ended quarter. Copies of those filings can be found without charge on the SEC’s site at https://www.sec.gov or on NHI’s site at https://www.nhireit.com.
CONTACT:
John L. Spaid, Chief Monetary Officer
Telephone: (615) 890-9100
SOURCE: Nationwide Well being Buyers
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https://www.accesswire.com/711296/NHI-Broadcasts-Second-Quarter-2022-Outcomes
