National Health Investors, Inc. · NYSE:NHI
National Health Investors — Investor Presentation (August 2023)
11 slides from National Health Investors's investor presentation, Aug 8, 2023
Slide 1: National Health Investors Investor Update
National Health Investors Investor Update August 8, 2023
Slide 2: Safe Harbor Statement
Safe Harbor Statement NATIONAL HEALTH INVESTORS These slides and other materials we have filed or may file with the Securities and Exchange Commission, as well as information included in oral statements made, or to be made, by our senior management contain forward-looking statements that are based o
Slide 3: Investment Overview
Investment Overview Portfolio Optimization Multiple Drivers Enhance Financial Strength Positions Optimization Creates More Largely Complete Planned dispositions largely completed Improved EBITDARM coverages particularly in Need Driven portfolio to 1.22x Organic Growth Profile Repayment of deferral b
Slide 4: Portfolio Optimization Overview
Co) Portfolio Optimization Overview Nur NAL. INVESTORS: OBJECTIVES ACTIONS AND OUTCOMES Since 2Q 2021 completed approximately $348.5 million in senior housing dispositions at a NOI cash yield of approximately 3.0% and EBITDARM coverage of 0.54x — A — Transitioned six properties to new and existing o
Slide 5: Senior Housing & SNF Dispositions
Senior Housing & SNF Dispositions (dollars in thousands) NATIONAL HEALTH INVESTORS Since 2Q 2021, NHI has completed the disposition of 41 underperforming senior housing properties for net proceeds of approximately $348.5 million at an implied property cash NOI yield of 3.0% and EBITDARM coverage of
Slide 6: EBITDARM Coverage Overview
Co) EBITDARM Coverage Overview NATIONAL HEALTH INVESTORS EBITDARM Coverage Improvement Trailing Twelve Month (TTM) EBITDARM Coverage Need Driven Senior Housing EBITDARM coverage continues to show peie023) Baiz022) eiz022) eai2022) aaeo22 Gioia improvement reflecting the dispositions, rent restructur
Slide 7: Organic Growth Drivers
Organic Growth Drivers (dollars in thousands except RevPOR) INVESTORS Significant Organic NOI Upside in Deferral Repayments, Rent Resets, and SHOP * NHI typically targets organic growth in the 1.5% - 2.0% range driven largely by triple net lease escalators * Incremental Organic Drivers: The Company
Slide 8: Financial Strength Positions NHI for Accretive External Growth
Financial Strength Positions NHI for Accretive External Growth (dollars in million; debt maturity table as of June 30, 2023) HEALTH INVESTORS: Strong Balance Sheet Provides Ample Liquidity for Investment * Despite significant deferrals and rent restructuring, NHI has maintained its target leverage i
Slide 9: Optimization Creating More Invested Capital Efficiency
ta ) Optimization Creating More Invested Capital Efficiency NATIONAL ALTILINVESTORS Optimization Improving ROIC * Pandemic impacts start in late 2020 with first rent concessions granted * Dispositions begin in 2Q21 and include 41 senior housing properties and seven SNFs currently * Bickford rent res
Slide 10: Definitions
Definitions NATIONAL HEALTH INVESTORS ADJUSTED EBITDA & EBITDARM. We consider Adjusted EBITDA to be an important supplemental measure because it provides information which we use to evaluate our performance and serves as an indication of our ability to service debt. We defi ne Adjusted EBITDA as con
Slide 11: Reconciliations: ROIC
Reco ncl I iat i ons: ROI Cc NATIONAL HEALTIUINVESTORS [ollars in thousandsy 1020 2020 3Q20 4020 O21 202 3020 4031 1022 2022 3022 4Q22 1033 2023] Total Assets $3,167,835 $3,166,971 $3,139,273 $3,120,346 $3,183,273 $3,077,445 $2,912,177 $2,838,876 $2,802,503 $2,587,291 $2,508,785 $2,507,424 $ 2,533,2
National Health Investors — Investor Presentation (August 2023) on 6ix