National Health Investors ( (NHI) ) has released its Q2 earnings. Here is a breakdown of the information National Health Investors presented to its investors.
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National Health Investors, Inc. (NHI) is a real estate investment trust specializing in senior housing and medical investments, including sale-leasebacks, joint ventures, and mortgage financing.
In the second quarter of 2025, National Health Investors reported strong financial results, surpassing expectations and prompting an increase in its full-year guidance and quarterly dividend. The company’s performance was bolstered by strategic acquisitions and robust growth in its Senior Housing Operating Portfolio (SHOP).
Key financial highlights include a net income per diluted share of $0.79 for the quarter and $1.53 for the first half of the year. The company also reported a NAREIT FFO per diluted share of $1.19 for the quarter, a slight increase from the previous year. Notably, NHI’s normalized FFO per diluted share rose to $1.22, reflecting a positive trend in its financial metrics. The company maintained a strong balance sheet with over $750 million in liquidity and a net debt to adjusted EBITDA ratio below its target range.
NHI’s strategic activities included transitioning seven properties to its SHOP portfolio, acquiring six memory care communities in Nebraska, and entering into a construction loan agreement for a new facility in Michigan. The company also announced plans to explore additional SHOP acquisitions, supported by a favorable macroeconomic environment and a competitive cost of capital.
Looking ahead, NHI is optimistic about its growth prospects, with management expressing confidence in the company’s ability to capitalize on both internal and external opportunities. The updated guidance for 2025 reflects this positive outlook, with expectations for continued growth in FFO and normalized FAD.

