Earnings wrap: NHI, NHC

National Health Investors posted third-quarter normalized funds from operations of $26.2 million, an increase of 17 percent from the year before. Revenues at the Murfreesboro-based real estate investment trust rose about 30 percent to $31.8 million while costs stayed in check. The company (Ticker: NHI) also got a boost from the recovery of more than $2 million from a mortgage it had previously written down.

Fellow Murfreesboro company National HealthCare Corp. (Ticker: NHC) rang up third-quarter earnings of $19.9 million, up 16 percent from the 2012 quarter. Per diluted share, profits came in at $1.19 versus $1.04 a year ago and were helped by cost controls and a $4.4 million increase in non-operating income. Patient days during the quarter rose 2 percent from a year ago to almost 586,000, helping push revenues up 3 percent to $196 million.

Nov 6, 2013 8:44 AM

NHI inks $17M worth of deals in Maryland, California

National Health Investors has signed two deals with Chancellor Health Care of Southern California. The Murfreesboro-based real estate investment trust will spend $9.5 million to buy and renovate an assisted-living community in Maryland and also has committed $7.5 million to expand a Loma Linda, Calif., campus it bought from Chancellor last year. NHI shares (Ticker: NHI) closed last week at $62.43 and are up about 10 percent in 2013.

Nov 4, 2013 5:39 AM

NHC renews BofA line

They like each other. They really like each other.

Nursing home operator National HealthCare Corp. said Wednesday it has come to terms with Bank of America on the sixth extension of its $75 million line of credit.

Oct 24, 2013 10:21 AM

Brookdale adding to Alabama property

Officials with local companies Brookdale Senior Living and Hoar Construction recently broke ground on an expansion of one of Brookdale's four communities in the Birmingham market. Hoar is building a 66-bed skilled-nursing unit that will encompass 54,000 square feet. The Brookdale Place University Park complex also includes 234 independent-living beds, 90 assisted-living units, and 28 memory-care spots. More info is here.

 

Oct 11, 2013 6:42 AM

NHC, Maury Regional eye $18M Columbia project

Officials from Maury Regional Medical Center and National HealthCare Corp. have teamed up to apply for permission to build a 112-bed skilled nursing facility. The NHC/Maury County Regional Transitional Care Center project would be valued at $18 million and, if approved later this month by state regulators, would open its doors in mid-2015.

Oct 8, 2013 11:48 AM

Care Technology Systems hires COO

Co-founder of MedfusionRx retired from successor earlier this year
Oct 7, 2013 1:43 PM

NHI acquires in Alabama, funds in Florida

National Health Investors has drawn on its revolving credit line to buy an Alabama retirement community for $12 million and has signed a 15-year lease deal with Discovery Senior Living. The two companies also have signed a deal to have NHI fund a $2.5 million second mortgage on a Discovery project in Florida. Check out the details here.

Sep 27, 2013 10:02 AM

Clarksville adds low-income senior housing

Clarksville officials will on Thursday host a ribbon-cutting to mark the opening of The Vinings at Greencastle, an 80-unit affordable housing community for senior citizens that is the first of its kind in the city. The $9.3 million project developed by Clarksville’s Office of Housing and Community Development and The Vantage Group includes 68 two-bedroom and 12 one-bedroom units. It was financed by a coalition that includes UnitedHealthcare, U.S. Bancorp Community Development Corp., the Clarksville Office of Housing and Community Development and the Tennessee Housing Development Agency.

Sep 24, 2013 6:48 AM

CareAll founder dies at 77

Known for TV ads, brother of former Central Parking boss donated millions to local schools
Sep 9, 2013 4:53 PM

$8M in stock sales for Brookdale insiders

A quartet of Brookdale Senior Living insiders — including the company's former CEO — have in the past week sold chunks of their stock holdings, generating almost $8 million. The biggest sale came from Bill Sheriff, who led the Brentwood-based company until this past February and still sits on its board of directors. He hit the sell button on 200,000 shares worth more than $5.3 million and gifted another $1.1 million worth. (He still owns more than 640,000 shares of Brookdale (Ticker: BKD), which have given up 11 percent in the past month but are still up slightly year to date.

Also lightening their company stakes since last Friday were director James Seward and Chief Administrative Officer Bryan Richardson, who both sold 40,000 shares for about $1.1 million, and COO Gregory Richard, who sold more than 14,000 shares for about $400,000.

SEE ALSO: Other noteworthy insider transactions from this summer

Aug 22, 2013 7:32 AM