NYSE$NHI
National Health Investors Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
NHI's Q4 2023 results were announced, showing increased net income and exceeding expectations due to deferral repayments and SHOP NOI growth.
National Health Investors, Inc. (NHI) reported positive Q4 2023 results, with net income attributable to common stockholders at $0.74 per diluted share, compared to $0.04 in the same period last year. The results were driven by deferral repayments and growth in SHOP NOI. The company's financial profile remains strong, with leverage at 4.4 times net debt-to-adjusted EBITDA.
- Net income attributable to common stockholders per diluted common share was $0.74, up from $0.04 in the prior year.
- NAREIT FFO per diluted common share was $1.09, compared to $0.74 in the prior year.
- Normalized FFO per diluted common share was $1.09, up from $0.85 in the prior year.
- SHOP NOI grew 24.4% sequentially compared to Q3 2023.
Headline financials
Revenue & EPS history
NHI · Revenue · Quarterly
$79.5M
Revenue by segment
NHI · $68.4M total across 1 segment · Q2 2021
- Rental income$68.4M—100.0%
Forward guidance
NHI issued its 2024 annual guidance range, expecting NAREIT FFO per diluted common share and Normalized FFO per diluted common share in a range of $4.31 - $4.37, and Normalized FAD in a range of $191.3 million - $194.1 million.
Tailwinds
- Continued rent concessions, asset dispositions and loan repayments
- Continued fulfillment of existing commitments
- SHOP NOI growth in a range of 25%-30%
- Continued collection of deferred rents
- No incremental benefit from unidentified acquisitions
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 Q4 2023
+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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