This is a routine quarterly supplemental filing with no new guidance or material transactions. Monitor the upcoming 10-Q filing for the full income statement and any changes to forward guidance. The stable lease coverage and moderate leverage (5.0x net debt/EBITDA) suggest no near-term credit concerns.
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Executive Summary
NHI filed its Q2 2026 supplemental financial information, a routine quarterly disclosure. The filing provides portfolio-level NOI breakdowns, lease coverage metrics, and capitalization details but does not include a full income statement or explicit earnings-per-share figures. The data shows stable lease coverage (T12 EBITDARM 1.54x for Bickford) and a well-laddered debt maturity schedule, but no material new investments or guidance changes were disclosed.
Key Facts
- Annualized adjusted NOI of $289.0 million for contracts in place at June 30, 2026.
- Total lease portfolio annualized cash rent of $225.0 million.
- Senior housing need-driven segment contributed 38.3% of annualized adjusted NOI.
- Bickford pro forma EBITDARM coverage was 1.54x (T12 ended Q1 2026) and 1.50x (T12 ended Q1 2025).
- Weighted average debt maturity of 5.0 years with staggered maturities through 2035+.
- Net debt to adjusted EBITDA leverage of 5.0x as of June 30, 2026.
- Fixed charge coverage ratio of 4.0x for Q2 2026.
- FAD payout ratio of 74% for the trailing twelve months ended June 30, 2026.
Financial Impact
No material financial impact from this routine supplemental filing. Annualized adjusted NOI of $289.0M and annualized cash lease revenue of $225.0M were disclosed.
Risk Factors
- No forward guidance or earnings data provided in this filing
- Lease coverage metrics remain below pre-pandemic levels for some operators
- Concentration in senior housing (64% of NOI) exposes portfolio to sector-specific headwinds
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000877860-26-000201 |
| Document: nhi-20260810.htm | 0000877860-26-000201 |
| Document: 0000877860-26-000201-index-headers.html | 0000877860-26-000201 |
| Document: 0000877860-26-000201-index.html | 0000877860-26-000201 |
| Document: 0000877860-26-000201.txt | 0000877860-26-000201 |
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| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 25d ago | Press Release | $65.08 | awaiting T+20 | — | $67.46 (+3.66%) |
Aug 10, 2026 10w ago | 8-K | $69.95 $70.19 | ▲ +0.34% | ▲ +1.40% | $67.46 (−3.56%) |
Aug 10, 2026 10w ago | 8-K | $69.95 $70.19 | ▲ +0.34% | ▲ +1.40% | $67.46 (−3.56%) |
Aug 10, 2026 10w ago | 8-K | $69.95 $70.19 | ▼ −0.34% | ▼ −1.40% | $67.46 (+3.56%) |
Aug 10, 2026 10w ago | Press Release | $69.95 $70.19 | ▲ +0.34% | ▲ +1.40% | $67.46 (−3.56%) |
Aug 10, 2026 11w ago | Press Release | $69.95 $70.19 | ▲ +0.34% | ▲ +1.40% | $67.46 (−3.56%) |
Jul 27, 2026 13w ago | 8-K | $79.28 $73.07 | ▼ −7.83% | ▼ −11.13% | $67.46 (−14.91%) |
Jul 15, 2026 14w ago | Press Release | $79.14 $71.27 | ▼ −9.94% | ▼ −13.56% | $67.46 (−14.76%) |
May 4, 2026 24w ago | 8-K | $73.09 $71.11 | ▼ −2.71% | ▼ −7.66% | $67.46 (−7.70%) |
May 4, 2026 24w ago | 8-K | $73.09 $71.11 | ▼ −2.71% | ▼ −7.66% | $67.46 (−7.70%) |
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