Key Developments: National Health Investors Inc (NHI.N)
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Latest Key Developments (Source: Significant Developments)
National Health Investors Inc Announces $135 Million Acquisition Of 17 Assisted Living Communities
National Health Investors Inc announced that its RIDEA joint-venture with Bickford Senior Living has acquired 17 assisted living and memory care communities for a total purchase price of $135 million. NHI owns 85% of the joint-venture and Bickford owns 15%. The acquisition brings the total number of properties in the joint-venture to 30, of which 3 are under construction. Wells Fargo Securities, LLC served as financial advisor to NHI on this transaction. Full Article
National Health Investors Inc Raises FY 2013 FFO Guidance
National Health Investors Inc announced that for fiscal 2013, it expects normalized FFO to be the range of $3.48 to $3.54 per diluted common share. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $3.44 for fiscal 2013. Full Article
National Health Investors Inc Expands Emeritus Relationship With Acquisition Of Assisted Living Community For $15.3 Million
National Health Investors Inc announced a $15.3 million acquisition of The Inn at Halcyon Village in Marysville, Ohio. The 76-unit assisted living and memory care community was built in 2009 and will be leased to Emeritus Senior Living for an initial 15-year term with an option to extend. Rent in the first year of the lease will amount to $1.15 million with 3% annual fixed escalators beginning in the third year. The purchase was funded from borrowings on NHI's revolving credit facility. Full Article
National Health Investors Inc Announces $370 Million Unsecured Credit Facilities Including 7-Year Term Loans
National Health Investors Inc announced that it has entered into amended $370 million senior unsecured credit facilities that includes a $250 million revolving credit facility and $120 million of 7-year term loans. The revolving credit facility matures in five years (inclusive of an embedded 1-year extension option), and the term loans mature in 7 years. At closing, the new facilities replaced smaller credit facilities that originated on May 1, 2012 and provided for $320 million of total committed facilities. Wells Fargo Securities, LLC, BMO Capital Markets and KeyBank National Association were joint lead arrangers for the facilities and arranged a syndicate that included nine banks. BMO Capital Markets and Wells Fargo Securities, LLC were joint lead arrangers for the $120 million 7-year term loan facility. Other banks in the credit facility are Bank of America, Regions Bank, Pinnacle National Bank, United Community Bank, Stifel Bank & Trust and UMB Bank. The amended credit facility provides for: Unsecured, revolving borrowings of up to $250M with interest at 140 basis points over LIBOR and a maturity of 5 years (inclusive of an embedded 1-year extension option); and Unsecured, 7-year term loans of $120 million with interest at 150 basis points over LIBOR, of which interest of 3.04% on a notional amount of $40 million is fixed for a period of 6 years and interest of 3.61% on a notional amount of $80 million is fixed for a period of 7 years with interest rate swap agreements. Full Article
National Health Investors Inc Raises FY 2013 FFO Guidance-Conference Call
National Health Investors Inc announced that for fiscal 2013, it expects normalized FFO to be in a range of $3.42 to $3.50 per diluted share. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $3.40 for fiscal 2013. Full Article
National Health Investors Inc Announces Second Quarter Dividend
National Health Investors Inc announced that a second quarter dividend will be $0.735 per common share, which represents a 5.8% increase from the first quarter of 2013 and a 13.1% increase from the second quarter of 2012. The dividend will be payable on August 9, 2013 to shareholders of record on June 28, 2013. Full Article
National Health Investors Inc Announces $26.3 Million Acquisition
National Health Investors Inc announced a $26.3 million acquisition totaling 254 beds. The skilled nursing facilities, each less than two years old, are located in Canton and Corinth, Texas. Indirect affiliates of Fundamental committed to a ten-year initial lease term plus annual fixed escalators. The purchase was funded from borrowings on NHI`s revolving credit facility. Full Article
National Health Investors Inc Increases First Quarter Dividend
National Health Investors Inc announced that it will increase its first quarter dividend to $.695 per common share to shareholders of record on March 29, 2013 and payable on May 10, 2013. This represents an annualized dividend of $2.78 per common share. Full Article
National Health Investors Inc Issues FY 2013 FFO Guidance Below Analysts' Estimates
National Health Investors Inc announced that for fiscal 2013, it expects normalized fund from operation (FFO) to be from $3.30 to $3.38 per diluted common share. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $3.39 for fiscal 2013. Full Article
National Health Investors Inc Announces Special Dividend
National Health Investors Inc announced that it will pay a special dividend of $.22 per common share to shareholders of record on January 10, 2013, and payable on January 31, 2013. In accordance with IRS Sec. 857(b)(9), this dividend will be treated for tax purposes as having been paid in the fiscal year ending December 31, 2012. Full Article

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