NYSE$NHI
National Health Investors Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
NHI's first quarter performance in 2024 was strong, driven by increased deferral repayments, accelerating revenue growth at NHC, no unexpected rent concessions, and sequential SHOP NOI growth.
National Health Investors (NHI) reported a strong start to 2024, exceeding expectations in the first quarter. Key drivers included deferral repayments, revenue growth at NHC, stable rent concessions, and increased SHOP NOI. The company is raising its full-year guidance as a result.
- Net income attributable to common stockholders per diluted common share was $0.71, compared to $0.79 in the same period last year.
- NAREIT FFO per diluted common share was $1.10, compared to $1.16 in the prior year.
- Normalized FFO per diluted common share was $1.12, compared to $1.11 in the prior year.
- Normalized FAD was $51.0 million, compared to $47.7 million in the same period last year.
Headline financials
Revenue & EPS history
NHI · Revenue · Quarterly
$81.5M
Revenue by segment
NHI · $68.4M total across 1 segment · Q2 2021
- Rental income$68.4M—100.0%
Forward guidance
NHI is updating its 2024 annual guidance range.
Tailwinds
- NAREIT FFO per diluted common share to a range of $4.36- $4.41 from $4.31 - $4.37
- Normalized FFO per diluted common share to a range of $4.37- $4.43 from $4.31 - $4.37
- Normalized FAD to a range of $196.7 million - $199.2 million from $191.3 million - $194.1 million
- Continued rent concessions, asset dispositions and loan repayments
- Continued fulfillment of existing commitments
Headwinds
- SHOP NOI growth in a range of 25%-30% year over year
- Continued collection of deferred rents
- No incremental benefit from unidentified acquisitions
- Guidance range is based on several assumptions, many of which are outside the Company’s control and all of which are subject to change
- The guidance range may change if actual results vary from these assumptions
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.3%
Avg return
30 days after
59%
40 / 68 earnings
Positive
+14.9%
Q3 2020
Best reaction
-7.9%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.4% | -1.9% | -9.4% | |
| Q4 2025 | -4.2% | -3.2% | -6.3% | |
| Q3 2025 | +1.8% | +1.1% | +4.1% | |
| Q1 2025 | +0.5% | +1.0% | -6.2% | |
| Q4 2024 | -0.2% | +2.9% | +4.8% | |
| Q3 2024 | +1.1% | +7.0% | -0.4% | |
| Q2 2024 | +3.0% | +3.2% | +13.8% | |
| Q1 2024 | +1.4% | +0.9% | +2.8% | |
| Q4 2023 | +6.6% | +8.4% | +16.5% | |
| Q3 2023 | +0.5% | -0.7% | +7.8% | |
| Q2 2023 | -7.5% | -6.7% | -9.4% | |
| Q1 2023 | +7.6% | +8.3% | +8.0% | |
| Q4 2022 | -7.9% | -6.5% | -17.5% | |
| Q3 2022 | -1.4% | +3.4% | +2.1% | |
| Q2 2022 | +2.6% | +4.9% | +4.5% | |
| Q1 2022 | -3.4% | +1.4% | +12.8% | |
| Q4 2021 | -3.2% | -2.0% | +6.4% | |
| Q3 2021 | +1.4% | +1.8% | +1.4% | |
| Q2 2021 | -6.2% | -5.5% | -9.7% | |
| Q1 2021 | -3.1% | -4.9% | -5.6% | |
| Q4 2020 | -0.6% | +0.1% | +7.5% | |
| Q3 2020 | +14.9% | +18.0% | +20.7% | |
| Q2 2020 | +0.1% | -2.8% | -1.0% | |
| Q1 2020 | -4.2% | -11.3% | +19.2% | |
| Q4 2019 | +1.4% | +1.8% | -57.5% | |
| Q3 2019 | -2.0% | -2.0% | +1.0% | |
| Q2 2019 | +2.1% | +2.0% | +3.9% | |
| Q1 2019 | -1.2% | +0.8% | +3.4% | |
| Q4 2018 | -6.9% | -4.0% | -5.7% | |
| Q3 2018 | +1.6% | +2.4% | +8.0% | |
| Q2 2018 | +1.0% | +0.1% | +3.1% | |
| Q1 2018 | +1.9% | +1.7% | +6.7% | |
| Q4 2017 | +0.0% | +0.8% | +7.5% | |
| Q3 2017 | -2.9% | -1.5% | -0.6% | |
| Q2 2017 | +1.0% | +2.8% | +6.7% | |
| Q1 2017 | +2.5% | +4.4% | +5.1% | |
| Q4 2016 | +0.7% | +1.1% | -3.9% | |
| Q3 2016 | -0.3% | -5.5% | +1.1% | |
| Q2 2016 | +0.6% | +2.0% | +3.4% | |
| Q1 2016 | +1.9% | — | — | |
| Q4 2015 | +3.8% | — | — | |
| Q3 2015 | -0.1% | — | — | |
| Q2 2015 | -1.9% | — | — | |
| Q1 2015 | +1.5% | — | — | |
| Q4 2014 | +0.4% | — | — | |
| Q3 2014 | -0.7% | — | — | |
| Q2 2014 | +2.6% | — | — | |
| Q1 2014 | +1.5% | — | — | |
| Q4 2013 | -1.0% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q2 2013 | -0.0% | — | — | |
| Q1 2013 | +3.3% | — | — | |
| Q4 2012 | -1.1% | — | — | |
| Q3 2012 | +1.3% | — | — | |
| Q2 2012 | -2.7% | — | — | |
| Q1 2012 | +1.2% | — | — | |
| Q4 2011 | -2.4% | — | — | |
| Q3 2011 | +0.8% | — | — | |
| Q2 2011 | -5.4% | — | — | |
| Q1 2010 | -2.5% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q4 2008 | +0.2% | — | — | |
| Q4 2010 | +0.2% | — | — | |
| Q3 2010 | +1.6% | — | — | |
| Q3 2009 | +1.6% | — | — | |
| Q2 2010 | +0.9% | — | — | |
| Q2 2009 | +0.9% | — | — | |
| Q4 2009 | +0.9% | — | — |
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