---
schema_version: "secwatch.filing_event.v1"
accession: "0000877860-25-000185"
form_type: "8-K"
ticker: "NHI"
cik: "0000877860"
company_name: "NATIONAL HEALTH INVESTORS INC"
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-17T00:07:09.770851+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NHI Q3 Normalized FFO $1.32/share, up 28% YoY; raises full-year guidance third time

## Summary
- Net income $0.69/diluted share vs $0.65 YoY; NAREIT FFO $1.09 vs $1.03.
- Normalized FFO $1.32 vs $1.03 YoY driven by SHOP NOI growth of ~63%.
- Raised 2025 NAREIT FFO guidance to $4.62-$4.65 from $4.46-$4.50; Normalized FFO to $4.88-$4.91.
- Acquired four SHOP properties for $74.3M and a CCRC for $52.5M in October; pipeline $195M under LOI.
- Net debt/adjusted EBITDA 3.6x; issued $350M 5.35% senior notes due 2033.

## SEC filing metadata
- accession: 0000877860-25-000185
- form_type: 8-K
- ticker: NHI
- cik: 0000877860
- company_name: NATIONAL HEALTH INVESTORS INC
- filed_at: 2025-11-06T23:59:59+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/877860/000087786025000185/0000877860-25-000185-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/877860/000087786025000185/nhi-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000877860-25-000185
- JSON: https://secwatch.observer/filing/0000877860-25-000185.json
- Plain text: https://secwatch.observer/filing/0000877860-25-000185.txt

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