National Health Investors Q1 FFO Climbs; Lifts Forecast - Quick Facts

(RTTNews) - National Health Investors, Inc. (NHI), a healthcare real estate investment trust, reported higher funds from operations in its first quarter.

Funds From Operations or FFO for the three months ended March 31 was $32.52 million or $0.98 per share, compared to last year's $20.07 million or $0.72 per share.

Net income attributable to common stockholders grew to $23.53 million or $0.71 per share from $15.74 million or $0.56 per share a year ago.

Normalized FFO was $34.67 million or $1.05 per share, compared to $24.11 million or $0.86 per share last year.

Normalized Adjusted Funds From Operations or AFFO grew to $30.86 million or $0.93 per share from $22.91 million or $0.82 per share last year. Normalized AFFO per share increased 13.4 percent.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $1.00 per share for the quarter. Analysts' estimates typically exclude special items.

Normalized Funds Available for Distribution or FAD increased 10.2 percent to $32.21 million or $0.97 per share from prior year's $24.49 million or $0.88 per share.

Revenues increased to $43.14 million from prior year's $27.13 million. Analysts expected $41.12 million revenues.

Looking ahead for fiscal 2014, the company currently forecasts Normalized FFO from $4.14 to $4.20 per share and Normalized AFFO from $3.69 to $3.75 per share. Analysts expect earnings of $4.08 per share for the year.

The company previously expected Normalized FFO per share in the range of $3.92 to $4.00 and Normalized AFFO per share from $3.44 to $3.50 per share.