National Health Investors Q3 normalized FFO per share falls; net income rises on NHC portfolio sale gain
NHI•National Health Investors’ Q3 normalized FFO per share fell 15% year over year to $1.12, while net income rose on a gain from an NHC portfolio sale. The company expects 2026 NAREIT FFO per diluted share of $4.68 to $4.70.
1. Quarterly results
National Health Investors’ Q3 normalized FFO per share fell 15% year over year to $1.12. Net income surged on a large gain from the sale of its NHC portfolio.
2. 2026 outlook
The company expects 2026 NAREIT FFO per diluted share of $4.68 to $4.70 and FAD attributable to common stockholders of $236.6 million to $237.7 million. It projects same-store SHOP NOI growth of 1% to 3% across 15 properties.
3. Portfolio changes
Higher resident fees and services were mainly driven by the acquisition of 20 SHOP properties since Q4 2025. Rental income fell due to the sale of 42 properties and the transition of seven properties to the SHOP segment.
