National Health Investors posted another good quarter and, like many other companies, increased their earnings guidance for the rest of the year based on current performance as well as expected new investments.
The REIT’s small SHOP portfolio posted a 29.4% year-over-year increase in NOI and will be transitioning six communities to the portfolio which had been triple-net leased.
During the second quarter, NHI purchased six assisted living and memory care communities in Nebraska for $63.5 million, or $308,300 per unit. They will be leased at an initial rate of 8.0% plus 2.0% annual escalators for an initial 15-year term. See details on the deal here.
In addition, the REIT is providing a $23 million construction loan for a new 84-unit assisted living and memory care community in Wyoming. Glad to see some new development activity.
The share price jumped by 2.5% on the earnings results and kept on climbing the next day.
