National Health Investors, Inc. (NHI) slashed its quarterly dividend by 18.4% to $0.90 per share. The dividend is payable on August 6 to shareholders of record on June 30. During the first quarter, the company paid a dividend of $1.1025 per share. The dividend cut will lead to a savings of $28 million in 2021. The company will put the savings towards improving the quality of its real estate portfolio through lease restructurings, asset sales, and accretive acquisitions. NHI CEO Eric Mendelsohn c
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National Health Investors: NHI Provides Business Update and Declares Second Quarter 2021 Dividend
Holiday Deferral Agreement
NHI has reached an agreement with Holiday that defers rent of $600,000 per month for May, June, and July of 2021. The Company also agreed to release $600,000 per month to be applied to rent for May, June, and July of 2021 from the Holiday security deposit which totaled $10.6 million prior to this deferral agreement. The remaining monthly base rent of $1.7 million will be paid in cash. Deferred payments under this agreement accrue interest at 8% and are expected to be repaid over 18 months commencing January 1, 2022. NHI continues to evaluate actions to optimize the Holiday portfolio which may include further deferrals, asset sales, and lease restructurings.
National Health Investors: NHI Announces $62.3 Million Investment in Specialty Behavioral Health
MURFREESBORO, TN / ACCESSWIRE / June 1, 2021 / National Health Investors, Inc. (NYSE:NHI) announced today that it has invested $40.3 million for the acquisition of Brookhaven Hospital, a specialty behavioral health hospital in Tulsa, OK. Brookhaven Hospital is a 64-bed hospital that specializes in treating patients that have suffered a traumatic brain injury. The hospital is leased to Vizion Health ( Vizion ), a growing operator of behavioral health hospitals led by an executive management team with extensive experience in the industry. The lease has a 15-year maturity with two 5-year renewal options and an initial lease rate of 8.5% plus annual fixed escalators. NHI has committed $2.0 million for capital improvements over the next two years which will be added to the lease basis as the expenditures are funded.