National Health Investors: NHI Provides Business Update
Recent
Deferral Agreements
In April, NHI entered into a rent deferral agreement with Bickford Senior Living ( Bickford ) which includes a deferral not to exceed $3.0 million for April and a deferral not to exceed $2.0 million for May. Per the agreement, NHI granted Bickford a deferral of $3.0 million for April. All deferred amounts under the agreement, including the previously disclosed $3.0 million for March, bear interest at 8% from the date of the deferral and are expected to be repaid over a period of 18 months commencing on October 1, 2021.
The Company continues to work diligently with any operators that need assistance related to the ongoing COVID-19 pandemic to find solutions to support them until business operations begin to stabilize. Discussions are ongoing with other tenants and while agreements on further rent concessions have yet to be finalized, the Company expects that future concessions are forthcoming.
National Health Investors: NHI Announces First Quarter 2021 Dividend
About NHI
Incorporated in 1991, National Health Investors, Inc. (NYSE: NHI) is a real estate investment trust specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI s portfolio consists of independent, assisted and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitals. For more information, visit www.nhireit.com.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Enterprise Products Partners (NYSE:EPD), and
National Health Investors (NYSE:NHI) all offer dividends with yields above 6%, at a time when the
S&P 500 s average is only about 2%. Yet they are priced well compared to competitors in their sectors all three companies shares have tumbled more than 16% over the past year, giving investors a good price point to buy in for those dividends.
These are stable, mature companies, where you re not likely to see double-digit growth, but they have predictable cash flows, making their high-yield dividends safe.
Image source: Getty Images.
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Operator
Greetings and welcome to the Fourth Quarter 2020 Conference Call. [Operator Instructions] This conference is being recorded Tuesday, February 23, 2021.
And now I d like to turn the conference over to Dana Hambly. Please go ahead.
Dana Hambly
Director of Investor Relations
Thank you and welcome everyone to National Health Investors conference call to review the company s results for the fourth quarter of 2020. On the call with me today are Eric Mendelsohn, President and CEO; Kevin Pascoe, Chief Investment Officer; John Spaid, Executive Vice President and Chief Financial Officer; and David Travis, Chief Accounting Officer. The results, as well as notice of the accessibility of this conference call on a listen-only basis were released yesterday after market closed in a press release that s been covered by the financial media.