National Health Investors (NYSE: NHI) reported Q3 EPS of $0.94, $0.03 better than the analyst estimate of $0.91. Revenue for the quarter came in at $71.35 million versus the consensus estimate of $70.35 million.

2017 Guidance

The Company currently expects Normalized FFO for 2017 to be in the range of $5.22 to $5.26 per diluted common share and Normalized AFFO to be in the range of $4.70 to $4.72 per diluted common share. The Company’s guidance range reflects the existence of volatile economic conditions, but does not assume any material deterioration in tenant credit quality and/or performance of its portfolio.

The Company estimates that it will close on $42 million of new investments in seniors housing before December 31, 2017, including the assumption of $18 million in fixed rate term debt. The guidance is based on a number of assumptions, many of which are outside the Company’s control and all of which are subject to change. The Company’s guidance range allows for the uncertainty inherent in the structure and timing of the financing required to fund previously announced investments and any pending new investments. The Company’s guidance may change if actual results vary from these assumptions.

Q3 2017 Highlights

• Announced $21.9 million in real estate acquisitions and loans; $165.6 million year-to-date
• Maintained low leverage balance sheet at 4.0x net debt-to-annualized adjusted EBITDA
• Portfolio lease coverage remains strong at 1.70x
• GAAP net income of $.94 for the third quarter; $2.97 year-to-date
• Normalized FFO up 11.4% over third quarter 2016; up 9.4% year-to-date
• Normalized AFFO up 10.9% over third quarter 2016; up 9.3% year-to-date

GUIDANCE:

National Health Investors sees FY2017 EPS of $3.87-$3.89 versus estimates of 3.86.

For earnings history and earnings-related data on National Health Investors (NHI) click here.