---
schema_version: "secwatch.filing_event.v1"
accession: "0000877860-25-000096"
form_type: "8-K"
ticker: "NHI"
cik: "0000877860"
company_name: "NATIONAL HEALTH INVESTORS INC"
filed_at: "2025-05-05T23:59:59+00:00"
generated_at: "2026-05-22T21:41:58.844287+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NHI Q1 EPS $0.74, NAREIT FFO $1.14; raises 2025 guidance mid-point

## Summary
- Net income per diluted share $0.74 vs $0.71 YoY; NAREIT FFO $1.14 vs $1.10; Normalized FFO $1.15 vs $1.12.
- 2025 guidance raised: NAREIT FFO now $4.64-$4.70, Normalized FFO $4.68-$4.73, Normalized FAD $223.8M-$226.4M.
- Q1 investments of $67.5M in two assisted living facilities (CO, NJ) at ~8% initial yield; April Nebraska portfolio $63.5M at 8.0%.
- SHOP NOI $3.1M (+4.9% YoY); CEO expects 12%-15% SHOP NOI growth for full year.
- Balance sheet: net debt to adjusted EBITDA at low end of 4.0x-5.0x target; $1.3B net debt; $409M ATM capacity.

## SEC filing metadata
- accession: 0000877860-25-000096
- form_type: 8-K
- ticker: NHI
- cik: 0000877860
- company_name: NATIONAL HEALTH INVESTORS INC
- filed_at: 2025-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/877860/000087786025000096/0000877860-25-000096-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/877860/000087786025000096/nhi-20250505.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000877860-25-000096
- JSON: https://secwatch.observer/filing/0000877860-25-000096.json
- Plain text: https://secwatch.observer/filing/0000877860-25-000096.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.