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NATIONAL HEALTH INVESTORS, INC.
SELECTED FINANCIAL DATA
(dollars in thousands, except share and per share amounts)
Condensed Statements of Income |
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(in thousands, except share and per share amounts) |
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Three months ended |
Nine months ended |
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September 30, |
September 30, |
||||||
2009 |
2008 |
2009 |
2008 |
||||
Revenues: |
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Rental income |
$ 17,054 |
$ 13,220 |
$ 44,570 |
$ 40,017 |
|||
Mortgage interest income |
2,568 |
2,400 |
7,071 |
7,214 |
|||
19,622 |
15,620 |
51,641 |
47,231 |
||||
Expenses: |
|||||||
Interest expense |
15 |
62 |
77 |
247 |
|||
Depreciation |
2,317 |
1,925 |
6,210 |
5,935 |
|||
Amortization of loan costs |
3 |
3 |
9 |
11 |
|||
Legal expense |
337 |
310 |
1,272 |
1,041 |
|||
Franchise, excise and other taxes |
135 |
108 |
549 |
525 |
|||
General and administrative |
1,194 |
453 |
4,040 |
2,242 |
|||
Loan and realty losses (recoveries) |
- |
- |
(640) |
- |
|||
4,001 |
2,861 |
11,517 |
10,001 |
||||
Income Before Non-Operating Income |
15,621 |
12,759 |
40,124 |
37,230 |
|||
Non-operating income (investment interest and other) |
1,856 |
701 |
5,728 |
4,464 |
|||
Income From Continuing Operations |
17,477 |
13,460 |
45,852 |
41,694 |
|||
Discontinued Operations |
|||||||
Income from operations - discontinued |
(4) |
2,491 |
2,086 |
2,449 |
|||
Net income |
$ 17,473 |
$ 15,951 |
$ 47,938 |
$ 44,143 |
|||
Weighted average common shares outstanding: |
|||||||
Basic |
27,589,161 |
27,767,394 |
27,580,568 |
27,750,377 |
|||
Diluted |
27,642,237 |
27,785,708 |
27,605,504 |
27,783,141 |
|||
Earnings per share: |
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Basic: |
|||||||
Income from continuing operations |
$ 0.63 |
$ 0.48 |
$ 1.66 |
$ 1.50 |
|||
Discontinued operations |
- |
0.09 |
0.08 |
0.09 |
|||
Net income available to common stockholders |
$ 0.63 |
$ 0.57 |
$ 1.74 |
$ 1.59 |
|||
Diluted: |
|||||||
Income from continuing operations |
$ 0.63 |
$ 0.48 |
$ 1.66 |
$ 1.50 |
|||
Discontinued operations |
- |
0.09 |
0.08 |
0.09 |
|||
Net income available to common stockholders |
$ 0.63 |
$ 0.57 |
$ 1.74 |
$ 1.59 |
|||
Funds from operations |
$ 19,695 |
$ 17,869 |
$ 53,999 |
$ 49,910 |
|||
Funds from operations per common share |
|||||||
Basic |
$ 0.71 |
$ 0.64 |
$ 1.96 |
$ 1.80 |
|||
Diluted |
$ 0.71 |
$ 0.64 |
$ 1.96 |
$ 1.80 |
|||
Quarterly dividend declared per common share |
$ 0.55 |
$ 0.55 |
$ 1.65 |
$ 1.65 |
|||
The results of operations for facilities sold, including the gain or loss on such sales, have been reported in the current and prior periods as discontinued operations. |
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Selected Balance Sheet Data |
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(in thousands) |
|||
September 30, 2009 |
December 31, 2008 |
||
Real estate properties, net |
$ 231,442 |
$ 181,332 |
|
Mortgages receivable, net |
98,372 |
108,640 |
|
Preferred stock investment, at cost |
38,132 |
38,132 |
|
Cash and cash equivalents |
63,571 |
100,242 |
|
Marketable securities |
22,960 |
26,594 |
|
Bonds payable |
1,400 |
3,987 |
|
Stockholders' equity |
435,872 |
429,615 |
National Health Investors, Inc. – 222 Robert
Rose Drive – Murfreesboro TN 37130
Phone: (615) 890-9100 - Fax: (615) 225-3030