secwatch.observer — SEC 8-K summary
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Issuer:     NATIONAL HEALTH INVESTORS INC (NHI)
CIK:        0000877860
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0000877860-24-000081
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NHI Q3 normalized FFO $1.03; cuts 2024 guidance on SLM credit loss and lower revenue
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- Net income per diluted share Q3 $0.65 (vs $0.68 YoY); Normalized FFO $1.03 (vs $1.08).
- 2024 guidance lowered: NAREIT FFO now $4.39-$4.41 (prev $4.50-$4.54); Normalized FFO $4.43-$4.44 (prev $4.52-$4.56).
- Credit loss reserve increased $3.6M for non-performing loans from Senior Living Management (SLM). SLM transitioned four leased properties; foreclosure initiated on $10M mortgage note.
- Acquired 10 assisted living/memory care in NC for $121M at 8.25% yield; signed LOIs for $59.8M at ~8.8% yield. SHOP occupancy improved to 88.6% (+960 bps YoY).
- Amended credit facility to Oct 2028; settled 1.8M forward shares for $122.4M net. Net debt to adjusted EBITDA within 4.0x-5.0x target.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/877860/000087786024000081/0000877860-24-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/877860/000087786024000081/nhi-20241105.htm
  HTML page:      https://secwatch.observer/filing/0000877860-24-000081

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