National Health Investors ( NYSE: NHI ) increased its guidance for 2022 normalized FFO per share to $4.48-$4.53, slightly under the $4.54 consensus estimate, from its previous range of $4.38-$4.48.
Q2 normalized FFO per share of $1.26, topping the average analyst estimate of $1.22, increased from $1.10 in Q1 and $1.16 in the year-ago quarter.
During the quarter, NHI formed a new Seniors Housing Operating Portfolio reporting segment comprised of the operations of 15 legacy Holiday independent living facilities with a combined 1,731 units operated in two separate ventures on behalf of the company.
Senior Living Communities occupancy of 83.4% in July vs. 82.3% in April; Blackford occupancy was 84.5% vs. 82.0% in April, and SHOP occupancy of 77.1% edged down from 77.2% in April.
During the quarter, National Health Investors ( NHI ) converted Bickford Senior Living to the cash basis of accounting for its four master lease agreements and wrote off ~$18.1M of straight-line rents receivable and $7.1M of lease incentives to rental income.
During Q2, NHI acquired a 53-unit assisted-living facility for $13.3M and sold 11 properties with net book value of ~$85.1M for net cash proceeds of ~$95.8M.
Earlier, National Health Investors ( NHI ) FFO of $1.26 beats by $0.04, revenue of $21.46B
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National Health Investors Q2 earnings tops consensus, lifts 2022 guidance