---
schema_version: "secwatch.filing_event.v1"
accession: "0000877860-25-000136"
form_type: "8-K"
ticker: "NHI"
cik: "0000877860"
company_name: "NATIONAL HEALTH INVESTORS INC"
filed_at: "2025-08-06T23:59:59+00:00"
generated_at: "2026-05-17T20:18:32.661942+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NHI Q2 Normalized FFO $1.22 beats, raises FY guidance, increases dividend

## Summary
- Q2 Normalized FFO per share $1.22 vs $1.18; NAREIT FFO $1.19 vs $1.18; net income $0.79 vs $0.81.
- FY 2025 Normalized FFO guidance raised to $4.78-$4.82 (from $4.68-$4.73); NAREIT FFO guidance lowered to $4.46-$4.50 due to non-cash write-offs.
- Acquired $63.5M memory care portfolio in Nebraska (8% yield, 15-year lease); funded $28M construction loan at 9%.
- Terminated Discovery lease for 6 facilities (net $125.7M) effective Aug 1; transitioned to SHOP; expects $8.8M rent reduction including $12.1M write-off.
- CEO announced quarterly dividend increase (amount TBD); balance sheet: net debt/EBITDA 3.9x; $315.8M ATM capacity; repaid $75.7M Fannie Mae.

## SEC filing metadata
- accession: 0000877860-25-000136
- form_type: 8-K
- ticker: NHI
- cik: 0000877860
- company_name: NATIONAL HEALTH INVESTORS INC
- filed_at: 2025-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/877860/000087786025000136/0000877860-25-000136-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/877860/000087786025000136/nhi-20250806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000877860-25-000136
- JSON: https://secwatch.observer/filing/0000877860-25-000136.json
- Plain text: https://secwatch.observer/filing/0000877860-25-000136.txt

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