National Health Investors Q4 Adj. FFO Beats Estimates

(RTTNews) - National Health Investors, Inc. (NHI), a healthcare real estate investment trust, Tuesday reported a drop in funds from operations or FFO for the fourth quarter. However, the company recorded a higher adjusted FFO, which surpassed estimates.

Funds from operations for the quarter declined to $29.94 million or $1.00 per share from $32.88 million or $1.18 per share, a year ago. Excluding certain items, the company recorded FFO of $26.75 million or $0.90 per share for the quarter, compared with $23.37 millions or $0.84 per share, a year earlier.

On average, 8 analysts polled by Thomson-Reuters estimated the company's FFO to be $0.88 for the quarter. Analysts' estimated typically exclude one-time items.

Earnings attributable to shareholders fell to $27.78 million, or $0.93 per share, from $41.10 million, or $1.48 per share, last year. For 2014, the company expects adjusted earnings per share in the range of $3.92 to $4.00 and projects full year net income per share attributable to shareholders of $3 to $3.05.