secwatch.observer — SEC 8-K summary
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Issuer:     NATIONAL HEALTH INVESTORS INC (NHI)
CIK:        0000877860
Form:       8-K
Filed at:   2025-05-05T23:59:59+00:00
Accession:  0000877860-25-000096
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/877860/000087786025000096/0000877860-25-000096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/877860/000087786025000096/nhi-20250505.htm
  HTML page:      https://secwatch.observer/filing/0000877860-25-000096

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer