National Health Investors, Inc. (NHI) reports developments as a self-managed real estate investment trust focused on senior housing communities and medical facilities. The company owns, leases, operates and finances real estate through its Real Estate Investments and Senior Housing Operating Portfolio, or SHOP, segments, including independent living, assisted living, memory care, entrance-fee communities, senior living campuses, skilled nursing facilities and hospitals.
Recurring NHI news includes dividend declarations, earnings releases, investor updates, property investments, financing activity and governance changes. Company updates also cover sale-leaseback, joint venture, mortgage and mezzanine financing activity tied to senior housing and healthcare real estate.
National Health Investors (NYSE:NHI) has furthered its partnership with Navion Senior Solutions by investing approximately $13.2 million in various projects. This includes acquiring a 48-unit assisted living and memory care community in Manchester, TN, for $6.6 million at a 7.5% initial yield. NHI also funded a $3.0 million expansion at a community in Durham, NC, and provided a $3.6 million corporate loan to Navion, with both financing options set at 8.0% interest. The investments aim to enhance Navion's service offerings in the Southeast.
National Health Investors (NYSE:NHI) has announced a deferral agreement with Holiday Retirement, postponing $600,000 monthly rent for May to July 2021 while utilizing part of Holiday's security deposit. NHI collected 87.1% of its contractual cash for May and 86.2% for the second quarter. The company declared a dividend of $0.90 per share, marking an 18.4% reduction from the previous quarter, saving approximately $28 million. The board emphasizes maintaining a conservative capital structure to navigate the pandemic impact and ensure future growth.
National Health Investors (NYSE: NHI) announced a $40.3 million investment for the acquisition of Brookhaven Hospital, a 64-bed behavioral health facility in Tulsa, OK. The hospital specializes in treating traumatic brain injuries and is leased to Vizion Health under a 15-year lease at an initial rate of 8.5%. NHI also provided a $20 million corporate loan to Vizion to support its acquisition of Brookhaven NeuroNetwork. NHI has committed an additional $2 million for capital improvements over the next two years.
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On May 10, 2021, National Health Investors reported a 43.1% decrease in net income per diluted share to $0.78 for Q1 2021, compared to the previous year. Key factors included a $21 million gain in Q1 2020 and $4.2 million in rent deferrals. The company collected 94.3% of cash due for the quarter. Despite challenges, occupancy rates showed initial recovery trends. NHI secured a $50 million mezzanine loan for medical real estate investments and maintained a strong liquidity position with $37.4 million in cash. The company will discuss further results in a conference call on May 11.
National Health Investors (NHI) plans to release its first-quarter results for the period ending March 31, 2021, following market close on May 10, 2021. A conference call to discuss these results will occur on May 11, 2021, at 12 p.m. Eastern Time. Investors can join the call by dialing (800) 945-0427, using confirmation number 21993287. The call will be broadcasted live online and available for replay for one year. NHI specializes in senior housing and medical investments, including diverse healthcare properties.
National Health Investors (NYSE: NHI) has entered into a $50 million mezzanine loan agreement with Montecito Medical Real Estate for the Montecito Two Rivers Fund. This fund aims to invest in medical real estate across the U.S., targeting up to $200 million in assets. NHI will earn a 9.5% interest rate on the loan, with an additional 2.5% accruing for future capital events. The loan term is five years, with the first investments expected by Q2 2021. This partnership underscores NHI's strategic focus on healthcare real estate.
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National Health Investors (NYSE:NHI) declared a first-quarter dividend of $1.1025 per common share, payable on May 7, 2021, to shareholders on record as of March 31, 2021. This announcement reinforces the company's commitment to providing consistent returns to its investors. The firm specializes in real estate investments in senior housing and medical facilities, serving a crucial sector in healthcare. As of this announcement, NHI continues to navigate the complexities posed by the ongoing impacts of the COVID-19 pandemic on its operations.
National Health Investors announced its financial results for Q4 and the full year ended December 31, 2020. Net income per diluted share for Q4 decreased by 12.6% to $0.83, while annual net income rose by 12.8% to $4.14, boosted by $21.3 million in real estate sales. Normalized FFO for Q4 decreased by 2.8% to $1.37, but annual figures increased by 1.8% to $5.60. Despite challenges from the COVID-19 pandemic, the company collected 93.9% of contractual cash in Q4 and increased its dividend by 5%. NHI remains optimistic about recovery and has raised $400 million through public bond offerings.