Revenue: As of FY2026 Q1, the actual value is USD 115.13 M.EPS: As of FY2026 Q1, the actual value is USD 0.82, missing the estimate of USD 0.8284.EBIT: As of FY2026 Q1, the actual value is USD 52.1 M.<h4>Net Income</h4>Net income attributable to common stockholders was $40,024 thousand for the quarter ended March 31, 2026, up from $34,113 thousand in the prior year period, representing a 17.3% increase .<h4>Funds From Operations (FFO) and Funds Available for Distribution (FAD)</h4>NAREIT FFO attributable to common stockholders was $59,822 thousand for the quarter ended March 31, 2026, an increase from $52,350 thousand in the prior year period . Normalized FFO attributable to common stockholders was $59,822 thousand for the quarter ended March 31, 2026, compared to $52,614 thousand in the prior year period . Normalized FAD increased by 11.6% to $62.5 million for the quarter ended March 31, 2026, from $56.0 million in the prior year . Normalized FAD attributable to common stockholders was $62,471 thousand for the quarter ended March 31, 2026, up from $56,001 thousand in the prior year period .<h4>Revenue</h4>Total revenues were $115,130 thousand for the quarter ended March 31, 2026, compared to $89,296 thousand for the same period in 2025 . Rental income increased by $4.3 million, or 6.2%, to $73,150 thousand, primarily due to $4.0 million from real estate properties acquired since January 1, 2025, partially offset by $2.1 million related to properties transitioned to the SHOP segment . Resident fees and services increased to $37,060 thousand for the quarter ended March 31, 2026, from $13,939 thousand in the prior year . Resident fees and services, less senior housing operating expenses, increased by $5.8 million, including a $2.9 million increase from transitioned properties and a $3.0 million increase from SHOP segment acquisitions since January 1, 2025 . Interest and other income decreased to $4,920 thousand for the quarter ended March 31, 2026, from $6,491 thousand in the prior year, with interest income from mortgage and other notes receivable decreasing by $1.5 million, or 23.8% .<h4>Expenses</h4>Total expenses were $78,025 thousand for the quarter ended March 31, 2026, compared to $56,008 thousand for the same period in 2025 . Depreciation and amortization increased by $4.5 million, or 23.7%, to $23,691 thousand, primarily due to acquisitions . Interest expense increased by $0.7 million, or 4.9%, to $15,040 thousand, primarily due to the 2033 Senior Notes issued in September 2025 . Senior housing operating expenses were $28,169 thousand for the quarter ended March 31, 2026, up from $10,853 thousand in the prior year . Legal expense decreased by $1.1 million, or 78.6%, to $305 thousand, as Q1 2025 included $1.2 million in transaction costs . General and administrative expenses increased by $1.0 million, or 15.0%, to $7,851 thousand, primarily due to higher compensation costs .<h4>Net Operating Income (NOI)</h4>Total NOI was $84,157 thousand for the quarter ended March 31, 2026, compared to $75,556 thousand for the same period in 2025 . Real Estate Investments segment NOI was $75,266 thousand for the quarter ended March 31, 2026, compared to $72,470 thousand in the prior year . SHOP segment NOI was $8,891 thousand for the quarter ended March 31, 2026, up from $3,086 thousand in the prior year . Same Store SHOP properties NOI declined by 2.4% to $3,012 thousand due to lower occupancy . Acquisitions contributed $2,977 thousand to SHOP NOI, and transitioned properties contributed $2,902 thousand to SHOP NOI .<h4>Balance Sheet and Liquidity</h4>Consolidated net debt was $1.2 billion as of March 31, 2026, including $309.0 million outstanding on the $700.0 million revolving credit facility . The consolidated net debt to adjusted EBITDA ratio was 4.0x as of March 31, 2026 . Real estate properties, net, were $2,555,288 thousand as of March 31, 2026, compared to $2,473,758 thousand as of December 31, 2025 . Debt, net, was $1,269,668 thousand as of March 31, 2026, compared to $1,163,814 thousand as of December 31, 2025 . National Health Investors, Inc. stockholders’ equity was $1,514,775 thousand as of March 31, 2026, compared to $1,521,543 thousand as of December 31, 2025 . The company had access to $44.2 million of undrawn net proceeds from active ATM forward equity sales agreements as of March 31, 2026 .<h4>Investments and Dispositions</h4>First quarter invested capital was $742.5 million, a 106% increase from the prior year period, with $212.4 million of investments announced year-to-date . National Health Investors, Inc. acquired a portfolio of nine assisted living facilities for $105.5 million in February 2026 and seven senior housing properties for $106.9 million in May 2026 . Dispositions included the sale of a Michigan senior living campus for $6.7 million, recognizing a $2.5 million gain, and properties in South Carolina and Ohio for $3.2 million and $4.5 million, recognizing gains of $0.8 million and $0.9 million, respectively . The company expects to sell a Washington property for $39.0 million with an estimated gain of $20.1 million and has an agreement to sell the NHC portfolio for $560.0 million in net cash consideration, expected to close July 1, 2026 .<h4>Outlook / Guidance</h4>National Health Investors, Inc. updated its 2026 full-year guidance, revising NAREIT FFO per diluted share and Normalized FFO per diluted share to a range of $4.74 - $4.79 . Normalized FAD guidance is updated to a range of $240.6 million - $243.7 million . This updated guidance incorporates assumptions including $180 million in new investments, approximately $665 million in expected disposition proceeds, and 1% - 3% Same Store SHOP NOI growth for 15 properties .

National Health | 8-K: FY2026 Q1 Revenue: USD 115.13 M