NHI Files Q2 2024 10-Q: Financials and Operations Update
Ticker: NHI · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 877860
Sentiment: neutral
Topics: 10-Q, REIT, financials
TL;DR
NHI's Q2 2024 10-Q is in: financials updated, operations detailed. RE covering.
AI Summary
National Health Investors Inc. (NHI) filed its 10-Q for the period ending June 30, 2024. The company reported its financial performance for the second quarter and the first half of 2024, detailing its real estate investment trust operations. Key financial figures and operational updates were disclosed, reflecting the company's ongoing business activities and financial position.
Why It Matters
This filing provides investors with a detailed look at NHI's financial health and operational performance for the second quarter of 2024, crucial for understanding its real estate investment trust strategy.
Risk Assessment
Risk Level: medium — As a real estate investment trust, NHI is subject to market fluctuations, interest rate changes, and tenant-specific risks that can impact its financial performance.
Key Numbers
- 2024 Q2 — Quarterly Period (Reporting period for the 10-Q filing.)
- 2024-06-30 — End of Reporting Period (The specific date through which financial information is reported.)
- 2023-12-31 — Prior Year End (Reference point for year-over-year comparisons.)
Key Players & Entities
- NATIONAL HEALTH INVESTORS INC (company) — Filer
- 20240630 (date) — Period of Report
- 20240806 (date) — Filed as of Date
- 6158909100 (phone_number) — Business Phone
FAQ
What is the primary business of National Health Investors Inc.?
National Health Investors Inc. is a real estate investment trust (REIT) operating in the real estate sector, as indicated by its SIC code [6798].
For what period is this 10-Q filing reporting?
This 10-Q filing is for the period of report ending June 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on August 6, 2024.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
Where is National Health Investors Inc. headquartered?
The company's business and mailing address is 222 Robert Rose Drive, Murfreesboro, TN 37129.
Filing Stats: 4,671 words · 19 min read · ~16 pages · Grade level 15.8 · Accepted 2024-08-06 16:10:49
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value NHI New York Stock Exchange
Filing Documents
- nhi-20240630.htm (10-Q) — 2053KB
- nhi-6302024x10qex311.htm (EX-31.1) — 11KB
- nhi-6302024x10qex312.htm (EX-31.2) — 11KB
- nhi-6302024x10qex32.htm (EX-32) — 8KB
- 0000877860-24-000065.txt ( ) — 10669KB
- nhi-20240630.xsd (EX-101.SCH) — 86KB
- nhi-20240630_cal.xml (EX-101.CAL) — 88KB
- nhi-20240630_def.xml (EX-101.DEF) — 426KB
- nhi-20240630_lab.xml (EX-101.LAB) — 891KB
- nhi-20240630_pre.xml (EX-101.PRE) — 673KB
- nhi-20240630_htm.xml (XML) — 1505KB
Financial Information
Part I. Financial Information
Financial Statements
Item 1. Financial Statements 3
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 32
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk. 57
Controls and Procedures
Item 4. Controls and Procedures. 58
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 59
Risk Factors
Item 1A. Risk Factors 59
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 59
Other Information
Item 5. Other Information 59
Exhibits
Item 6. Exhibits 60
Signatures
Signatures 61 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements NATIONAL HEALTH INVESTORS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) June 30, 2024 December 31, 2023 (unaudited) Assets: Real estate properties: Land $ 181,173 $ 180,749 Buildings and improvements 2,622,633 2,593,696 Construction in progress 8,347 5,913 2,812,153 2,780,358 Less accumulated depreciation ( 705,829 ) ( 673,276 ) Real estate properties, net 2,106,324 2,107,082 Mortgage and other notes receivable, net of reserve of $ 15,921 and $ 15,476 , respectively 240,850 245,271 Cash and cash equivalents 14,766 22,347 Straight-line rent receivable 85,321 84,713 Assets held for sale, net 5,669 5,004 Other assets, net 23,982 24,063 Total Assets (a) $ 2,476,912 $ 2,488,480 Liabilities and Stockholders' Equity: Debt $ 1,136,035 $ 1,135,051 Accounts payable and accrued expenses 33,200 34,304 Dividends payable 39,098 39,069 Deferred income 5,107 6,009 Total Liabilities (a) 1,213,440 1,214,433 Commitments and contingencies Redeemable noncontrolling interest 9,169 9,656 National Health Investors, Inc. Stockholders' Equity: Common stock, $ 0.01 par value per share, 100,000,000 shares authorized; 43,442,849 and 43,409,841 shares issued and outstanding, respectively 434 434 Capital in excess of par value 1,606,199 1,603,757 Retained earnings 2,533,047 2,466,844 Cumulative dividends ( 2,895,263 ) ( 2,817,083 ) Total National Health Investors, Inc. Stockholders' Equity 1,244,417 1,253,952 Noncontrolling interests 9,886 10,439 Total Equity 1,254,303 1,264,391 Total Liabilities and Equity $ 2,476,912 $ 2,488,480 (a) The condensed consolidated balance sheets include the following amounts related to our consolidated Variable Interest Entities ("VIE"s): $ 507.9 million and $ 513.2 million of Real estate properties, net; $ 8.3 million and $ 10.9 million of Cash and cash equivalents; $ 9.8 million and $ 9.7 million of Straight-line rent receivable; $ 9.3