Quarterly per-share earnings for National Health Investors were 87 cents, or 9 cents below analysts’ estimates. The per-share earnings marked a decrease of 3.3% from the same period in the prior year.
Net income per diluted common share was $3.67, a decrease of 5.2% from a year earlier. The Tennessee-based real estate investment trust indicated that earnings were partially undermined by three troubled senior living operators who are behind in rent payments.
The three troubled campuses are located in Indiana, North Carolina and Tennessee. They were purchased for $67 million in 2015, as part of a sale-leaseback transaction with affiliates of East Lake Capital Management.
