Special bonus for NHI CEO

REIT's board also amends Hutchens' contract, gives raises to chief accounting, credit officers
Feb 24, 2014 7:02 AM

Analyst action: Brookdale, HealthStream

Count Darren Lehrich among the fans of Brookdale Senior Living's planned $2.8 billion acquisition of rival Emeritus. The veteran Deutsche Bank analyst on Friday morning hiked his price target for Brookdale (Ticker: BKD) to $38 from $35 and says, "The deal puts an exclamation point on the value of BKD's infrastructure and leadership position in the senior living space, and it should accelerate the value of ESC's portfolio over the mid/long-term." As for the cost savings and revenue opportunities expected by Brookdale CEO Andy Smith and his team, Lehrich says there's a good chance they'll prove conservative.

As his peer Frank Sparacino of First Analysis did Thursday, locally based Richard Close of Avondale Partners is backing HealthStream CEO Bobby Frist's strategy of investing in future growth rather than focusing on pumping up profits now. Reiterating his 'market outperform' rating and $33.50 target, Close says HealthStream's focus on building more products for its customers "should be welcomed." And noting the expected 26 percent jump this year in research and development spending, Close says, "The elevated growth is acceptable, assuming it sustains 20%-plus organic growth in recurring revenue." HealthStream shares aren't responding, however: As of 11 a.m., they were down about 2 percent (Ticker: HSTM) to about $28.

Feb 21, 2014 11:03 AM

Brookdale inks $2.8B Emeritus purchase deal

Acquisition will create company with operations in 330 markets, 10% market share
Feb 20, 2014 5:05 PM

NHI normalized FFO up 14% in Q4

National Health Investors posted normalized funds from operations of $26.7 million in the last three months of 2013, up 14 percent from the same period in 2012. Per diluted share, adjusted FFO climbed 7 percent to 90 cents. Revenues for the quarter rose to $32.8 million from $25.9 million in late 2012 as the company began collecting rents from properties it acquired in the past year. Looking ahead to 2014, CEO Justin Hutchens and his team said they expect NHI to post normalized FFO of $3.92 to $4 per share, up from $3.55 last year.

SEE ALSO: The Q4 supplemental financial data

Feb 18, 2014 11:07 AM

Local companies get slew of new 5% owners

Two big names disclose stakes in Brookdale; others have been buying Kirkland's, Healthcare Realty and Clarcor
Feb 12, 2014 7:03 AM

Expense controls help drive big Brookdale Q4 gains

Top line climbs 5%; senior housing margins rise more than 3 points
Feb 6, 2014 7:13 AM

Dean to transition city's senior care sites to private ownership

Proposal would turn over Metro facilities within three years, call for future development
Jan 30, 2014 1:53 PM

NHI lifts dividend

The board of National Health Investors (Ticker: NHI) has voted to boost the real estate investment trust's quarterly payout to 77 cents per share from 74 cents. The move lifts the company's yield to a tick above 5 percent.

Jan 27, 2014 12:03 PM

NHI's tally tops $280M

Real estate investment trust National Health Investors has completed its secondary stock offering, raising $282 million by issuing almost 5.2 million shares — a number that included a 675,000-share greenshoe. NHI shares (Ticker: NHI) closed Friday's half-day session at $58.87 and are up slightly for the year.

Dec 2, 2013 8:38 AM

NHI prices stock sale

The investment banks handling the sale of 4.5 million National Health Investors shares have set their price at $57. That's a 6 percent discount to the shares' Wednesday closing price before officials announced their plans to buy 25 properties from Holiday Retirement — and a couple of cents above where they ended in 2012. After expenses, NHI execs will take home $245 million, half of the money they'll need to buy the Holiday portfolio.

Nov 22, 2013 6:58 AM