NHI

EX-99.1

2 ex991-q32026earningsrelease.htm

EX-99.1

Document

Exhibit 99.1

Contact: Todd M. Siefert, Chief Financial Officer

Phone: (615) 890-9100

NHI Announces Third Quarter 2026 Results

MURFREESBORO, Tenn. – (Monday, November 9, 2026) National Health Investors, Inc. (NYSE: NHI) announced today its results for the quarter ended September 30, 2026.

CEO Comments

“SHOP and private-pay senior housing remain central to our long-term growth strategy, and we have invested in our executive management team to strengthen operating execution and improve portfolio performance,” said Eric Mendelsohn, NHI’s President and CEO. “Our strengthened team has developed a focused plan to address underperformance and position the portfolio for sustainable NOI growth consistent with our underwriting standards.”

“We have closed more than $395 million in investments year-to-date and expect to complete significant additional investments before year-end, with ample capital available to fund our current pipeline. This activity reflects our continued confidence in private-pay senior housing and our ability to source attractive opportunities. Our focus remains on disciplined capital allocation and stronger operating execution to translate that growth into long-term value for stockholders,” concluded Mr. Mendelsohn.

Third Quarter Highlights

•Net income attributable to common stockholders per diluted share for the quarter ended September 30, 2026 was $11.47 per share compared to $0.69 per share for the same period in the prior year. Net income attributable to common stockholders per diluted share for the nine months ended September 30, 2026 was $13.52 per share compared to $2.22 per share for the same period in the prior year. During the quarter and nine months ended September 30, 2026, the Company recognized a gain of $541.6 million on the sale of the National Healthcare Corporation (“NHC”) leased portfolio completed on July 1, 2026 and recognized $9.9 million of impairment to a real estate property from the Real Estate Investments segment which was reclassified to assets held for sale in the current quarter. During the nine months ended September 30, 2026, the Company sold a total of 42 real estate properties from the Real Estate Investments segment for aggregate net proceeds of $672.1 million and recognized a total gain on dispositions of real estate properties of $567.5 million.

•National Association of Real Estate Investment Trusts (“NAREIT”) Funds from Operations (“FFO”) per diluted share for the quarter ended September 30, 2026 increased 2.8% to $1.12 per share compared to $1.09 per share for the same period in the prior year. NAREIT FFO per diluted share for the nine months ended September 30, 2026 increased 3.5% to $3.54 per share compared to $3.42 per share for the same period in the prior year. During the quarter and nine months ended September 30, 2026, resident fees and services, less senior housing operating expenses, increased $6.6 million and $19.6 million, respectively, due to the acquisition of 20 properties in the SHOP segment. During each of the quarter and nine months ended September 30, 2025, NAREIT FFO included a $10.8 million and $11.0 million, respectively in net reduction in rental income for the lease terminations associated with the seven properties transitioned to the SHOP segment in August 2025.

•Normalized FFO per diluted share for the quarter ended September 30, 2026 decreased 15.2% to $1.12 per share compared to $1.32 per share for the same period in the prior year. Normalized FFO per diluted share for the nine months ended September 30, 2026 decreased 4.1% to $3.54 per share compared to $3.69 per share for the same period in the prior year. Normalized FFO for the quarter and nine months ended September 30, 2026 included $1.1 million of transaction costs related to acquisitions the Company stopped pursuing. Normalized FFO for the nine months ended September 30, 2026 included $1.0 million of deferred income tax expense. Normalized FFO for the quarter and nine months ended September 30, 2025 included a $3.9 million reduction in cash rental income related to the lease terminations of the transitioned properties, and Normalized FFO for the nine months ended September 30, 2025 included a $3.4 million reduction in credit loss reserves.

NHI Reports Third Quarter 2026 Results

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•Normalized Funds Available for Distribution (“FAD”) for the quarter ended September 30, 2026 decreased $5.1 million to $57.1 million compared to $62.2 million for the same period in the prior year. Normalized FAD for the nine months ended September 30, 2026 increased $7.0 million to $181.2 million compared to $174.2 million for the same period in the prior year. During the quarter and nine months ended September 30, 2026, resident fees and services, less senior housing operating expenses, increased $5.5 million and $13.2 million, respectively, from the acquisition of 20 properties since the fourth quarter of 2025. Cash re

EX-99.1

2 ex991-q22026earningsrelease.htm

EX-99.1

Document

Exhibit 99.1

Contact: Todd M. Siefert, Chief Financial Officer

Phone: (615) 890-9100

NHI Announces Second Quarter 2026 Results

MURFREESBORO, Tenn. – (Monday, August 10, 2026) National Health Investors, Inc. (NYSE: NHI) announced today its results for the quarter ended June 30, 2026.

CEO Comments

“We continued to expand our Senior Housing Operating Portfolio (“SHOP”) with second quarter invested capital of $854.8 million, a 137% increase from the prior year period,” said Eric Mendelsohn, NHI’s President and CEO. “Our total SHOP NOI for the second quarter increased by approximately 188% year-over-year driven by our recent acquisitions while the same-store SHOP results were ahead of expectations.”

"We also completed the sale of the NHC portfolio, one of the largest transactions in the Company's history, reducing balance sheet leverage to well below our target range and providing significant financial flexibility to pursue additional private-pay senior housing investments. In addition, we recently appointed a Chief Operating Officer to further strengthen our asset management and business development capabilities as we navigate the current operating environment and position the Company to capitalize on the long-term demographic tailwinds supporting our industry. With a strengthened balance sheet, substantial liquidity, and a growing SHOP portfolio, we believe NHI is well positioned to execute on attractive investment opportunities and create long-term value for stockholders," concluded Mr. Mendelsohn.

Second Quarter Highlights

•Net income attributable to common stockholders per diluted share for the quarter ended June 30, 2026 increased 45.6% to $1.15 per share compared to $0.79 per share for the same period in the prior year. Net income attributable to common stockholders per diluted share for the six months ended June 30, 2026 increased 28.7% to $1.97 per share compared to $1.53 per share for the same period in the prior year. Net income attributable to common stockholders for the three and six months ended June 30, 2026 included gains on dispositions of real estate properties of $22.0 million and $24.6 million, respectively. In the six months ended June 30, 2026, the Company disposed of five real estate properties in the Real Estate Investments segment for aggregate net proceeds of $98.5 million. The Company did not have any dispositions of real estate properties in the prior year period.

•National Association of Real Estate Investment Trusts (“NAREIT”) Funds from Operations (“FFO”) per diluted share for each of the quarters ended June 30, 2026 and 2025 was $1.19 per share. NAREIT FFO per diluted share for the six months ended June 30, 2026 increased 3.4% to $2.42 per share compared to $2.34 per share for the same period in the prior year. NAREIT FFO for the three and six months ended June 30, 2025 included proxy contest and related expenses of $1.3 million and $1.6 million, respectively, related to the Company’s response to a proxy campaign associated with the Company’s 2025 annual stockholders meeting. Additionally, NAREIT FFO for the six months ended June 30, 2025 included $1.2 million of transaction costs related to an acquisition in the SHOP segment that did not materialize.

•Normalized FFO per diluted share for the quarter ended June 30, 2026 decreased 2.5% to $1.19 per share compared to $1.22 per share for the same period in the prior year. Normalized FFO per diluted share for the six months ended June 30, 2026 increased 2.1% to $2.42 per share compared to $2.37 per share for the same period in the prior year. Normalized FFO for the three and six months ended June 30, 2025 included $1.5 million and $1.9 million, respectively, of gains from an equity method investment. Both the quarter and six months ended June 30, 2026 included $1.1 million of compensation costs related to the CFO transition and $0.7 million of deferred income tax expense. Normalized FFO for the six months ended June 30, 2025 included the transaction costs described above.

NHI Reports Second Quarter 2026 Results

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•Normalized Funds Available for Distribution (“FAD”) for the quarter ended June 30, 2026 increased $5.7 million to $61.6 million compared to $56.0 million for the same period in the prior year. Normalized FAD for the six months ended June 30, 2026 increased $12.1 million to $124.1 million compared to $112.0 million for the same period in the prior year. These increases primarily resulted from the net impact of the Company’s acquisitions activity. In addition, the Company had $0.5 million in compensation costs in the quarter and six months ended June 30, 2026 related to the CFO transition.

Quarterly Financial Results

Results for the quarter ended June 30, 2026 compared to the same period in the prior year were impacted by the following:

•Rental income increased $1.1 million, or 1.6%, which primarily included a $3.0 million increase from 11 prope

EX-99.1

2 ex991-q12026earningsrelease.htm

EX-99.1

Document

Exhibit 99.1

Contact: John L. Spaid, Chief Financial Officer

Phone: (615) 890-9100

NHI Announces First Quarter 2026 Results

MURFREESBORO, Tenn. – (Monday, May 4, 2026) National Health Investors, Inc. (NYSE: NHI) announced today its results for the quarter ended March 31, 2026.

CEO Comments

“NHI reported a solid start to 2026, with NAREIT FFO, Normalized FFO and FAD exceeding our internal expectations,” said Eric Mendelsohn, NHI’s President and CEO.

“During the quarter, we continued to expand our Senior Housing Operating Portfolio (“SHOP”), with first quarter invested capital of $742.5 million, a 106% increase from the prior year period. While same-store SHOP performance was impacted by near-term operating headwinds, we remain focused on executing our strategy and see solid performance from our recent SHOP additions. We also announced the acquisition of a seven-property portfolio for $106.9 million, which we expect to be accretive and to further support our growth.”

“Year-to-date, we have announced $212.4 million of investments and continue to evaluate additional opportunities. Following the pending sale of the NHC portfolio, we expect pro forma leverage to decline below our target range, providing additional financial flexibility. We remain focused on expanding our private-pay senior housing portfolio and believe our positioning supports our longer-term growth objectives,” concluded Mr. Mendelsohn.

Financial Results and Recent Events

•Net income attributable to common stockholders per diluted share for the quarter ended March 31, 2026 increased by 10.8% to $0.82 per share compared to $0.74 per share for the same period in the prior year. Net income attributable to common stockholders for the quarter ended March 31, 2026 included $2.6 million of gains on dispositions of real estate properties. Net income attributable to common stockholders for the quarter ended March 31, 2025 included $0.3 million of proxy contest and related expenses for a proxy campaign associated with the Company’s 2025 annual stockholders meeting and $1.2 million of costs incurred related to a large SHOP transaction that did not materialize.

•National Association of Real Estate Investment Trusts (“NAREIT”) FFO per diluted share for the quarter ended March 31, 2026 increased by 7.9% to $1.23 per share compared to $1.14 per share for the same period in the prior year. NAREIT FFO for the quarter ended March 31, 2025 included the $0.3 million of proxy contest and related expenses and the $1.2 million of transaction costs described above.

•Normalized FFO per diluted share for the quarter ended March 31, 2026 increased by 7.0% to $1.23 per share compared to $1.15 per share for the same period in the prior year. Normalized FFO for the quarter ended March 31, 2025 included the $1.2 million of transaction costs described above.

•Normalized FAD for the quarter ended March 31, 2026 increased by 11.6% to $62.5 million compared to $56.0 million for the same period in the prior year.

NHI Reports First Quarter 2026 Results

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NHI is updating its 2026 full year guidance range as follows:

•NAREIT FFO per diluted share from a range of $4.94 - $4.99 to a range of $4.74 - $4.79;

•Normalized FFO per diluted share from a range of $4.94 - $4.99 to a range of $4.74 - $4.79; and

•Normalized FAD from a range of $248.9 million - $251.4 million to a range of $240.6 million - $243.7 million.

A detailed schedule of the Company’s updated 2026 full year guidance range and the updated related assumptions used has been included in this press release.

Results for the quarter ended March 31, 2026 compared to the same period in the prior year were impacted by the following:

•Rental income increased $4.3 million, or 6.2%, primarily due to $4.0 million of increased rental income from real estate properties in the Real Estate Investments segment that were acquired since January 1, 2025, partially offset by $2.1 million of rental income in the prior year period related to seven properties transitioned into the SHOP segment on August 1, 2025 from the Real Estate Investments segment.

•Resident fees and services, less senior housing operating expenses, increased $5.8 million, consisting of a $2.9 million increase related to the transitioned properties discussed above and a $3.0 million increase due to acquisitions in the SHOP segment since January 1, 2025.

•On a same store (“Same Store”) basis, resident fees and services, less senior housing operating expenses, declined 2.4% primarily due to a decline in occupancy that was partially offset by increases in resident rental rates.

•Interest income from mortgage and other notes receivable decreased $1.5 million, or 23.8%, primarily due to a net reduction in the principal amounts of mortgage and other notes receivable outstanding in the current period compared to the prior year period.

•Depreciation and amortization increased $4.5 million, or 23.